Looks like we can downgrade the St. Louis MLS stadium plan’s condition from critical to dead, after the sponsor of a city bill to fund $80 million of the cost said she’s withdrawing the legislation:
“That bill will not be moving forward,” Alderman Christine Ingrassia, 6th Ward, said at Tuesday’s meeting of the aldermanic Ways and Means Committee…
Ingrassia said she wanted SC STL to show a proposal that was at least “revenue neutral” on the city’s budget over time.
“It looked like to me, and in the conversations I had with people who have more expertise in the field of public financing, that they were basically just repackaging the same subsidies in different ways,” Ingrassia said. “So they were asking for way more than I feel like we could support here in the city.”
“Repackaging the same subsidies in different ways”? I’m sure I’ve never heard of anything like that before.
It’s not entirely clear what changed Ingrassia’s mind — you go and sponsor a bill to spend $80 million on a soccer stadium, then turn around and say that this is “way more” than you can support? — but it’s worth noting that after newly elected governor Eric Greitens ruled out state funding as “corporate welfare,” Ingrassia started backing away as well. Elected officials are just so susceptible to peer pressure, you know?
If the soccer stadium plan really is dead, at least in this iteration — Mayor Francis Slay held out hope of still getting a proposal on an April ballot, but time’s running out and there’s now no funding plan at all — it’s worth noting that this would be one of the largest MLS stadium subsidies in history, all for a team that doesn’t actually exist yet. Top-level pro soccer in St. Louis isn’t a bad idea — it’s not a bad idea most places, which is why the league is handing out franchises to just about anyone who asks — but providing a near-record subsidy just so that MLS can get away with charging $150 million expansion fees was a terrible one. This alone won’t change the league’s business model, but maybe if Greitens has started something and a few more prospective expansion cities push back against subsidy demands … friends, they’ll call it a movement?