There was a long article by Eliot Brown in yesterday’s Wall Street Journal on stadium subsidies, which you probably can’t read because it’s paywalled, but it gives a good rundown on the basics. (Cities give up piles of dough, economists say it’s not worth it.) I just wanted to single out, though, one jaw-dropping quote from New York Yankees president Randy Levine in the middle of the piece about the team’s new stadium:
The team and city officials said it employs 1,600 more people than the old facility and brought new parks to a poor neighborhood. “Since Yankee Stadium was built, it has lived up to what it said,” Yankees President Randy Levine said.
This for a stadium that left a poor neighborhood without any parks at all for six years, that arguably didn’t even replace all the existing parkland it displaced as required by law, and that team execs promised would use “no public subsidies” and which ended up using more public subsidies than any stadium in U.S. history. Maybe Levine deserves his own plaque in the grandstanding Hall of Fame.