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Sports funding bullshit

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gshevlin2
Posts: 52
Joined: Sat Apr 03, 2021 12:32 am

Sports funding bullshit

#1

Post by gshevlin2 »

I thought I would point everybody to one of the definitive sources of the many and varied ways in which rich crusty old guys and groups of businessmen manage to spend Your Money on Their Teams.
http://www.fieldofschemes.com/
Remember, behind every major league franchise is an ownership group that long ago figured out how to get somebody else to part fund their business.


chancery
Posts: 140
Joined: Mon Feb 22, 2021 1:24 pm

Re: Sports funding bullshit

#2

Post by chancery »

Interesting stuff, thanks.

But awfully depressing. :cry:


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neonzx
Posts: 1311
Joined: Mon Feb 22, 2021 11:01 am

Re: Sports funding bullshit

#3

Post by neonzx »

I divorced myself from American pro-sports decades ago due to this. No more season tickets.


John Thomas8
Posts: 177
Joined: Mon Feb 22, 2021 7:42 pm
Location: Central NC
Occupation:: Tech Support

Re: Sports funding bullshit

#4

Post by John Thomas8 »

If the stadiums actually paid back what they cost to localities, it'd be easier to stomach using public money. But they don't, according to UC Berkeley, whom I'm inclined to believe:

https://econreview.berkeley.edu/the-eco ... it-margin/


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northland10
Posts: 1094
Joined: Mon Feb 22, 2021 6:47 pm

Re: Sports funding bullshit

#5

Post by northland10 »

John Thomas8 wrote: Thu Jun 17, 2021 6:39 pm If the stadiums actually paid back what they cost to localities, it'd be easier to stomach using public money. But they don't, according to UC Berkeley, whom I'm inclined to believe:

https://econreview.berkeley.edu/the-eco ... it-margin/
Even without the article, I was figuring that was the case. There are localities that are still paying off stadiums that were since torn down. There are many owners who want public money to finance everything but all of the revenue, even on non-team events, would go to the owner.

If they were using the public to secure better bond rates, I could almost handle it if the owners were still making the payments. Instead, their goal is to not spend as little as possible even though it would never hurt their bottom line. Their singular goal is more, and so they get it wherever they can.

That said, I do get mad at municipalities that are difficult with teams and owners who are actually paying for it themselves. At one point, I would have been almost supportive if Ricketts decided to take the Cubs out of Chicago. There was a little public money in the air rights request and some benefits that are used by all sorts of companies, but basically, he was paying for improvements to the field and non-stadium commercial buildings himself. A far cry from how Sox owner Reinsdorf approach a stadium need.


John Thomas8
Posts: 177
Joined: Mon Feb 22, 2021 7:42 pm
Location: Central NC
Occupation:: Tech Support

Re: Sports funding bullshit

#6

Post by John Thomas8 »

Public risk, private profit. That's the professional sports method and they've made it work. It sincerely sucks.


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Gregg
Posts: 574
Joined: Tue Feb 23, 2021 1:54 am

Re: Sports funding bullshit

#7

Post by Gregg »

northland10 wrote: Thu Jun 17, 2021 8:06 pm
Even without the article, I was figuring that was the case. There are localities that are still paying off stadiums that were since torn down. There are many owners who want public money to finance everything but all of the revenue, even on non-team events, would go to the owner.

:snippity:
Ladies and Gentlemen, I give you The Cincinnati Bengals, Mike Brown and Paul Brown Stadium...
The infilled artificial turf looks and feels like real grass and, since the field markings are sewn into the fabric, repainting between games is unnecessary. The reduced maintenance saved the county approximately US$100,000 annually
https://en.wikipedia.org/wiki/Paul_Brown_Stadium

The Bengals get almost all concession profits, even when Mike let's the county use their stadium for anything else, which he hardly ever does. He gets all the parking, the county pays for all maintenance and is bound to pay for upgrades to keep it in the upper tier of NFL stadiums.


I like the Bengals ( yes, people do) and I respect Mike Brown. Every time the County picks a fight with him, he beats them like a stepchild, and that's as much fun as watching the football. We have idiot county commissioners who for 25 years now have continued to scream about the terms they agreed to, so Mike says he's open to negotiate. After a week or two of working on a new lease, the county gives him another eleventy billion dollars and the Bengals lose 13 games the next season.

They ought to know better, FFS Mike Brown throat punched the IRS in court and largely avoided paying any estate tax on hundreds of millions of dollars. He knows phuckall about winning football games but he is hands down the best tax attorney and lease negotiator in the land.


Supreme Commander, Imperial Illuminati Air Force

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