Friday roundup: Charlotte approves $35m in soccer subsidies, NYC spends $5m on stadium upgrades for team that may disappear, NBA joins NFL in welcoming fans back to giant virus stew

Even after dispensing with that crazy San Jose Sharks move threat story, there’s a ton of leftover news this week. So put down that amazing Defector article about how the British have fetishized the Magna Carta as a declaration of citizen rights when it’s really just about how the king can’t unreasonably tax 25 barons, and let’s get right to it:

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2 comments on “Friday roundup: Charlotte approves $35m in soccer subsidies, NYC spends $5m on stadium upgrades for team that may disappear, NBA joins NFL in welcoming fans back to giant virus stew

  1. The odds of Biden eliminating the tax breaks for opportunity zones are slim to none. His economic advisors like them. He has touted them. Harris has as well. Plus there is the little problem of the benefit to local politicians who can claim job creation and investment when it comes election time (while ignoring any questions about efficiency and cost effectiveness).

  2. In fairness to the Ottawa commercial land barons, the owners of the sports franchises are claiming the entire development (including commercial & residential real estate – which almost certainly represents the lion’s share of the losses) is losing money, not just the sports teams – which obviously are given they aren’t playing any games at all.

    That doesn’t mean they are due even more taxpayer funding, but it’s not like they are claiming the stadium and arena are losing $40m annually.

    According to a story linked in the one you included, the “partnership” (the city and the owners of the franchises are supposed to share net revenues at some point) recorded a loss of about $14m in 2016 and a loss of just under $8m in 2017.

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