I got busy yesterday preparing for my talk this morning reading from the Coney Island chapter-in-progress of The Brooklyn Wars (if you want to see some highlights, Amy Nicholson of Zipper fame did some livetweeting), which means I didn’t get a chance to recap the flood of news around Wednesday’s presentations to the NFL by cities whose teams are threatening to move to L.A. Not that there was much real news in the sense of anyone coming up with new plans or decisions on how L.A. relocation will decided or discoveries of a money tree for funding the actual stadiums or anything, but, you know what, let’s just get to it, shall we:
- Officials from each city — San Diego, Oakland, and St. Louis — spent two hours apiece meeting with NFL owners, after which St. Louis stadium point person Dave Peacock said, “I doubt our presentation could have gone much better.” Which is … good, right? This is like the “You can’t put too much water in a nuclear reactor” SNL sketch.
- San Francisco 49ers owner Jed York came out of the meeting and said, “Let’s look at the markets where teams are already, and if they prove to not be viable, then we will look at the next step, which is relocation,” and Carolina Panthers owner Jerry Richardson added that a St. Louis stadium proposal which meets “the protocol for the NFL on relocation” would force the league to keep the Rams there. (Which, given that the NFL gets to write that protocol, doesn’t mean a ton, but it got everyone in St. Louis excited that “If we throw enough money at the Rams, they’ll have to stay, even if we don’t know how much money is enough!”
- The Chargers and Raiders then blew up the news cycle entirely by announcing that their new point person for their proposed Carson stadium would be Bob Iger, the freaking CEO of freaking Disney. Which means nothing, really, except that they’re “serious” and all that, since “the chair of Disney is going to run our stadium” sounds better than “we want to build a stadium and we have some drawings and, uh, yeah.”
- Oakland Mayor Libby Schaaf revealed that she’s considering issuing city lease revenue bonds for a Raiders stadium, for the first time opening the door to the city spending money on actual stadium construction costs. (ABC News calls them “tax-exempt bonds,” but lease revenue bonds for stadiums are required to be taxable, so forget that.) Lease revenue bonds would be repaid by rent payments by the Raiders, so really would just be a way of letting Mark Davis use the city’s low-interest credit card if he agrees to pay it off — though Schaaf also opened up the possibility of using tax increment financing (i.e., kicking back taxes paid by the Raiders and surrounding development), which obviously would be a whole nother kettle of fish.
In short … okay, there is no in short, since this is just a continuation of all the sides in this multidimensional game of chicken angling for an advantage. Will St. Louis convince NFL owner that their $500 million-ish stadium subsidy offer to the Rams is too rich to turn down? Will Schaaf’s offer of cheap money and maybe a smidge of tax kickbacks lure Davis into giving up on wedging his foot into the L.A. door and sticking with Oakland? Does Bob Iger provide Carson with the buzz it’s been missing since it discarded its idea for a giant eternal Al Davis flame? And most important, can anyone really make gobs of money on a move to L.A., or is it some combination of calculated risk and blackmail threat?
Answers to thee questions and more coming soon, I hope. Though I also wouldn’t recommend holding your breath, because the NFL’s deadlines, like its relocation protocols, are decided by the NFL, so if it’s in their interest to wait, they’re damn well gonna wait.