Friday roundup: Grizzlies lease has secret out clause, judge orders do-over in Nashville stadium vote, reviewers agree Rangers stadium is super-butt-ugly

Normally the end of June is when news around here starts slowing down for the summer, but as no one needs reminding, nothing is normal anymore. There isn’t even time to get into sports leagues trying to reopen in the midst of what could be an “apocalyptic” surge in virus cases across the South and West, because busy times call for paralipsis:

  • The Daily Memphian has uncovered what it calls a “trap door” in the Memphis Grizzlies‘ lease that could let the team get out of the agreement early if it has even a single season where it doesn’t sell 1) 14,900 tickets per game, 2) all of its 64 largest suites, or 3) fewer than 2,500 season club seats. (There is at least a “force majeure” clause that should exclude any seasons played during a pandemic.) That could force the city to buy up tickets in order to keep the lease in force, the paper notes, and though talks between the team and city are underway to renegotiate the deal, you just know that Grizzlies owner Robert Pera will want something in exchange for giving up his opt-out clause. Pera has so far said all the right things about not wanting to move the team, but then, he doesn’t have to when he has sports journalists to spread relocation rumors for him; if savvy negotiators create leverage, city officials really need to learn to stop handing leverage to team owners when they write up leases, because that really never works out well.
  • In a major victory for local governments at least following their own damn rules, opponents of Nashville’s $50 million-plus-free-land deal for a new MLS stadium won a court victory this week when a judge ruled that the city violated Tennessee’s Open Meetings Act by approving the stadium’s construction contract at a meeting held with only 48 hours notice, when the law requires five days. The city’s Metro Sports Authority can now just hold another meeting with normal notice and reapprove the contract, but still it’s good to see someone’s hand slapped for a change for hiding from public scrutiny.
  • The reviews of the Texas Rangers‘ new stadium that received $450 million in subsidies so the team could have air-conditioning are in, and critics agree, it looks like a giant metal warehouse, or maybe a barbecue grill, or maybe the Chernobyl sarcophagus. Okay, they just agree that is is one ugly-ass stadium from the outside; firsthand reports on whether the upper-deck seats are as bad as they look in the renderings will have to await fans actually being allowed inside, which could come as soon as later this summer, unless by then Texans are too busy cowering in their homes to avoid having to go to the state’s overwhelmed hospital system
  • Amazon has bought naming rights to Seattle’s former Key Arena (Key Bank’s naming rights expired eons ago), and because Amazon needs more name recognition like it needs more stories about its terrible working conditions, it has decided to rename the building Climate Pledge Arena, after an Amazon-launched campaign to get companies to promise to produce zero net carbon emissions by 2040, something the company itself is off to a terrible start on. The reporting doesn’t say, but presumably if greenwashing goes out of style, Amazon will retain the right in a couple of years to rename the building Prime Video (Starts At $8.99/Month) Arena.
  • The NFL is still planning to have fans in attendance at games this fall, but it’s also going to be tarping off the first six to eight rows of seats and selling ads on the tarps as a hedge against ticket-sales losses. Even when and if things return to normal, I’m thinking this could be a great way for the league to create that artificial ticket scarcity that it’s been wanting for years, n’est-ce pas?
  • Amid concern that the New York Islanders will be left temporarily homeless or forced to move back to Brooklyn in the wake of the Nassau Coliseum being shuttered, Nassau County’s top elected official has promised that “the next time that the Islanders play in New York it will be in Nassau County.” If my reading-between-the-lines radar is working properly, that probably means we can expect to see the Islanders’ upcoming season played someplace like Bridgeport, Connecticut.
  • New Arizona Coyotes president Xavier Gutierrez is definitely hitting the ground with all his rhetoric cylinders running, telling ESPN: “When I took the job, [owner] Alex Meruelo told me finding a solution for where we should be located was priority one through five. I thought it was one through five, and he quickly corrected me and said, ‘No, it’s priority one through 10 for you.'” Shouldn’t that really be one to 11?
  • Here’s an actual San Diego Union-Tribune sports columnist saying voters did the city a favor by turning down a $1.15 billion-dollar Chargers stadium plan, because the city would be having a tough time paying it off now what with the economy in shambles. Of course, $1.15 billion still would have been $1.15 billion even if San Diego had the money, but budget crunches do seem to have a way of focusing people’s attention on opportunity costs.
  • Speaking of which, here’s an article in the Atlanta Journal Constitution about how it’s hard for Cobb County to pay off the construction debt on its Atlanta Braves stadium what with tourism tax revenue having fallen through the floor, though at least the AJC did call up economist J.C. Bradbury to let him say that it doesn’t really matter which tax money was used because “there’s no found money in government.”
  • Both of those are still way better articles, though, than devoting resources to a story about how holding baseball games without fans is going to lead to a glut of bags of peanuts, for which Good Morning America has us covered. Won’t anyone think of the peanuts?!?
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Friday roundup: Dolphins owner seeks Formula One tax break, Tacoma okays soccer subsidies, plus vaportecture from around the globe!

Happy coronavirus panic week! What with stadiums in Europe being closed to fans and stadium workers in the U.S. testing positive for the virus, it’s tough to think of much right now other than what song to wash your hands to for 20 seconds (this is my personal preference). But long after we’re done with our self-quarantines, the consequences of sports venue spending will live on, so to the week’s news we go:

  • Miami Dolphins owner Stephen Ross is seeking a sales-tax exemption for tickets to Formula One racing events at his stadium, saying that without it, Miami might not get a Grand Prix. The tax break is expected to cost the state between $1.5 million and $2 million per event, but Formula One officials say each race would generate an economic impact of more than $400 million, and what possible reason would they have to lie about a thing like that?
  • The Tacoma city council voted 8-1 on Monday to approve spending on a $60 million, 5,000-seat stadium for the Reign F.C. women’s pro soccer team. According to a letter of intent approved by the council, the city will provide $15 million, while the city parks agency will provide $7.5 million more, with perhaps another $20 million to come from federal tax credits for investing in low-income communities. The parks body still has to vote on the plan on Monday as well; given that Metro Parks commissioner Aaron Pointer — who is also a former Houston Astro and a brother of the Pointer Sisters — said he doesn’t see “really any benefits at all” for the city or its parks, it’s fair to say that the vote there will be more contentious than the one in the city council.
  • Brett Johnson, the developer behind a proposed $400 million development in Pawtucket centered around a pro soccer stadium, says he has lots of investors eager to parks their capital gains in his project tax-free under the Trump administration’s Opportunity Zone program, but it might take a while to work out all the details because reasons. But, he added, “My confidence is very high,” and confidence is what it’s all about, right?
  • Nashville’s Save Our Fairgrounds has filed for a court injunction to stop work on a new Nashville S.C. stadium, on the grounds that no redevelopment of the state fairgrounds can take place without a public voter referendum. This brings the total number of lawsuits against the project to … umpteen? I’m gonna go with umpteen.
  • There’s now an official lawsuit against the Anaheim city council for voting on a Los Angeles Angels stadium land sale without sufficient public meetings. The People’s Homeless Task Force is charging that holding most of the sale talks in private violated the state’s Brown Act on transparency; the city’s lawyers responded that “there could be a myriad of reasons” why the council was able to vote on the sale at a single meeting in December despite never discussing it in public before that, though they didn’t suggest any specific reasons.
  • Wondering what vaportecture looks like outside of North America? Here’s an article on Watford F.C.‘s proposed new stadium, though if you aren’t an Athletic subscriber you’ll be stuck with just the one image, though given that it’s an image of Watford fans stumbling zombie-like into the stadium out of what appears to be an open field, really what more do you need?
  • There are some new renderings of the St. Louis MLS team‘s proposed stadium, and once again they mostly feature people crossing the street, not anything having to do with watching soccer. Are the clip art images of people throwing their hands in the air for no reason temporarily out of stock or something?
  • Here are photos of a 31-year-old arena being demolished, because America.
  • The Minnesota Vikings‘ four-year-old stadium needs $21 million in new paneling on its exterior, because the old paneling was leaking. At least the stadium’s construction contractors will be footing the bill, but it’s still an important reminder that “state of the art” isn’t necessarily better than “outmoded,” especially when it comes to new and unproven designs.
  • And speaking of COVID-19, here’s an article on how travel restrictions thanks to the new coronavirus will cost the European tourism industry more than $1 billion per month, without wondering what else Europeans (and erstwhile travelers to Europe from other continents) will do with the money they’re saving on plane tickets and hotel rooms. Where’s my article on how pandemics are a boost to the hand sanitizer and canned soup industries?
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Friday roundup: More Carolina Panthers stadium demands, D-Backs explain Vancouver move threat, and giant soccer robots

Good morning, and thank you for taking a break from your coronavirus panic reading to patronize Field of Schemes. Please wash your hands for 20 seconds with soap and water, and we can begin:

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Nashville mayor agrees to revised MLS stadium deal that costs taxpayers the same $75m as before

Great news, everybody! Nashville Mayor John Cooper and the owners of Nashville S.C. have settled their dispute over the team’s stadium deal, and according to the Tennessean:

To accommodate the mayor’s demands, the team will pay $54 million more in potential expenses — which includes $19 million in infrastructure and $35 million for stadium debt payments the city was previously on the hook for if sales and ticket revenues came up short.

Wow, that’s great! Cooper’s refusal to issue demolition permits enabled him to extract $54 million in concessions from team owner John Ingram, and … hey, wait, that $54 million figure sounds kind of familiar:

  • In the spirit of cooperation, the Team offered to pay an additional $19 Million to Metro for infrastructure in the immediate vicinity of the stadium.” This is real money — assuming the team (sorry, the Team) isn’t playing games and reclassifying tortilla chip fryers as “infrastructure” or something — but not exactly a huge concession given that the current deal doesn’t specify who’s responsible for infrastructure overruns, so it comes down to How about we split the costs, where we pay $19 million (sorry, $19 Million) and you pay whatever’s left over?
  • If ticket and sales tax revenues fell short of their $35 million projections, Ingram would cover any shortfall instead of making the city do it. This is worth something to the city, but almost certainly not anywhere near $35 million — how much depends on what you think the likelihood is of the taxes falling short, and by how much.
  • Ingram would also cover $85 million in stadium construction cost overruns, which is nice and all, but it was always going to be on the hook for stadium overruns, so this isn’t a savings to the public at all.

That’s from a week ago Tuesday, when Cooper rejected the offer as insufficient. The difference now appears to be that the legendary Parcel 8C, a two-acre plot between the stadium site and the racetrack next door, will be subject to a “general statement of principles” agreed to by the team that it will allow for an open plaza, like Cooper (and NASCAR) wanted.

Nowhere in the celebratory coverage, meanwhile, is it mentioned that Nashville will still be putting up $25 million in cash and around $50 million in kicked-back sales taxes, plus free land. That was the case in the original deal, and that was the case in this deal — the only difference is that Ingram has agreed to cover more of the added cost increase from overruns or revenue shortfalls. So while Cooper has successfully kept the deal from getting any worse, he hasn’t made it any better — unless you count a two-acre public plaza as a major get.

Twitter, predictably, responded with all the insight and nuance necessary for analyzing the deal’s complexity:

You think maybe I should borrow The Straight Dope’s tagline, now that they’re no longer using it?

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Nashville soccer stadium fight turns out to be all about a 2-acre public plaza

We’re getting more clarity in the Nashville S.C. soccer stadium standoff, thanks to Mayor John Cooper writing an op-ed in the Tennessean and giving interviews about his stance. And the upshot appears to be that the sticking point is really less the $50 million in public subsidies or preservation of the existing fairgrounds or whatnot, but rather whether a tiny plot of land will be available to NASCAR as an entrance plaza to the neighboring racetrack:

I’m hopeful that the 2.4 acres between the soccer stadium and the speedway (“Parcel 8c”) can be redesigned to create a public plaza worthy of the two great sports in neighboring 30,000-seat venues. A multi-functional plaza would address the operational needs of multiple fairgrounds uses, create open space on a campus home to Fair Park and Browns Creek Greenway, and shape a unified and beautiful fairgrounds for generations.

And:

“You’re gonna have to have loading, you’re gonna have to have pickup, drop off, you’re gonna have to have ADA compliancy. Having that space between the two stadiums, it can’t be just for one or for the other, it has to function for both parties,” Mayor Cooper said.

I previously called this a strange hill to die on, and it’s really awfully strange, for both sides: Nashville SC owner John Ingram has likewise said the deal is off if Parcel 8C isn’t included. Maybe it’s all brinksmanship, maybe NASCAR is just feeling butthurt its needs are coming behind that of the demon soccer, maybe Parcel 8C secretly sits atop a hidden vein of gold ore, who knows? As I’ve noted many times before, Ingram is totally within his rights to hold up this project if he wants, and there are certainly plenty of worthy questions about it. But if the only outcome ends up being a debate over whether to create a 300-foot-square plot of concrete, that’s going to be awfully anticlimactic.

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Saturday roundup: Manfred endorses Tampontreal Ex-Rays, NYCFC readies Bronx stadium plan (maybe), everybody in Nashville sues everybody else

Man, I sure picked the wrong week to get so sick that I couldn’t post for a couple of days! But even if it’s now the weekend and I’m only at about 80%, the news is at 110%, so let’s get to it:

  • First up is Thursday’s declaration by MLB commissioner Rob Manfred that he and baseball owners are “100% convinced” that having the Tampa Bay Rays play half their games in Montreal “is best way to keep Major League Baseball in Tampa Bay.” That’s not entirely surprising — I mean, it’s surprising that we have a major sports executive saying that the best way to keep a team from moving is to let it move half its games, but no more surprising than when Rays owner Stuart Sternberg first said it last June — since it’s very rare for sports commissioners and fellow owners to stand in the way of their fellow owners’ stadium or relocation plans, especially if it doesn’t infringe on their territories. (Speaking of territories, Toronto Blue Jays president Mark Shapiro said, “We are supportive of them exploring it,” if you were wondering.) The plan itself remains, in the words of the great unemployed sports editor Barry Petchesky, “completely batshit,” not least because it would require getting not one but two cities to build not one but two new stadiums just to land half a team, but also for a billion other reasons. It still makes the most sense as a Madman Theory strategy by Sternberg to scare Tampa Bay or Montreal into competing to build him at least one stadium — can you imagine the headlines to come about “Montreal is moving ahead with its stadium while Tampa lags behind?” or vice versa? — but sports owners are just rich, not necessarily smart, so who the hell knows what Sternberg really intends to do? Whatever it is, though, he’ll have Manfred’s support, because Manfred knows who signs his checks.
  • NYC F.C.‘s plan for a new stadium just south of Yankee Stadium has been reportedly almost ready for more than a year and a half now, but now it’s supposedly really almost ready, according to a different New York Times reporter than the one who reported the initial rumor. The outline of the plan remains roughly the same: The Yankees owners, who are minority owners of the MLS club, would allow the city to demolish a parking garage that their lease otherwise requires remain in place, a private developer would take the garage and a parcel across the street and the street itself (plus a highway off-ramp) and build housing and a hotel and other stuff on part of it while leasing the rest to NYC F.C. to build a stadium on, which would — again, supposedly — allow the whole thing to move forward without public money being used for construction. Being used for other things is another story: The Times doesn’t mention whether the team or developers would pay the city anything for the section of East 153rd Street that would need to be demapped and buried beneath a soccer pitch, or how much the developers would pay to lease the garage site, or if either parcel would pay property taxes. (The Times reports that “Maddd and N.Y.C.F.C. [would] convey the [street] property to the city” then lease it back, which certainly sounds like an attempt to evade property taxes.) City officials said that “a deal has not been reached, and more conversations are needed,” so maybe none of these things have even been decided; tune back in soon, or maybe in another year and a half!
  • The lawsuit filed by Save Our Fairgrounds claiming that Nashville S.C. stadium project would take up too much public land needed for other uses is moving to trial, and Nashville S.C. has sued to intervene in their lawsuit, and everybody’s trying to figure out if NASCAR and soccer can coexist on adjacent parcels, and soccer fans are mad that that stadium isn’t getting built yet, and the community coalition that negotiated a community benefits agreement to go along with the stadium plan is mad that nobody’s consulting them about any of this. It’s only a matter of time before Jimmy Carter is called in to resolve this.
  • Connecticut Gov. Ned Lamont has put $55 million into his state budget proposal over the next two years to renovate Hartford’s arena, with the rest of the cost — estimated at between $100 million and $250 million, depending on how extensive it is — to be paid off by private investors who would get … something. The state is studying it now! Get off their back!
  • A bunch of the Carolina Panthers fans who bought “permanent seat licenses” to help finance the team’s stadium back in 1993 have found that the “permanent” part isn’t actually so much true: About 900 seats in the front of one end zone are being ripped out to make way for luxury suites for soccer (or a standing-room “supporters’ section — the latter makes more sense, but the Charlotte Observer article on this is frustratingly unclear), so fans with PSLs there are being offered either to move to other nearby locations or to sell their licenses back to the team for 25% over what they initially paid for them. No wonder everyone else started calling them “personal” seat licenses!
  • Also, the Panthers are having their stadium property tax bill reduced by $3.5 million a year, because they asked nicely. Or just asked, and are a major sports franchise and therefore an 800-pound gorilla, with all the privileges that go with that. One of those two.
  • The Jacksonville Jaguars are going to play two home games in London next year, which the team’s website says is “strategically aligned” with development in their Jacksonville stadium’s parking lot, somehow, though is one extra week of construction time really going to help them all that much? Or maybe this is some weird kind of brinkmanship, as in “approve our Lot J development, stat, or we’ll keep moving games to London?” Anyway, cue people freaking out about the Jaguars moving to London again now, which team owner Shad Khan can’t be unhappy about because savvy negotiators and leverage and all that.
  • A poll by the Oakland Athletics on where the team should build a new stadium found that Oakland residents backed the team’s preferred Howard Terminal site by 63-29%, but a poll by a group that opposes the Howard Terminal plan found that residents prefer the current Oakland Coliseum site by a 62-29% margin. Reminder: Polls are garbage!
  • This video of an entire Russian hockey arena collapsing during reconstruction work, with a worker clearly visible on the roof as it gives way, doesn’t actually have much to with stadium subsidies, but it sure is impressive-looking, in a horrific way.
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Nashville SC offers more money for stadium, most of which isn’t real money actually

The standoff between Nashville S.C. owner John Ingram and Nashville mayor John Cooper is getting pretty nutso, with the release of a letter from Ingram offering an additional $54 million toward the project if Cooper moves ahead with demolition to make way for a new stadium. Though it turns out not to actually be $54 million in real money:

  • In the spirit of cooperation, the Team offered to pay an additional $19 Million to Metro for infrastructure in the immediate vicinity of the stadium.” This is real money — assuming the team (sorry, the Team) isn’t playing games and reclassifying tortilla chip fryers as “infrastructure” or something — but not exactly a huge concession given that the current deal doesn’t specify who’s responsible for infrastructure overruns, so it comes down to How about we split the costs, where we pay $19 million (sorry, $19 Million) and you pay whatever’s left over?
  • If ticket and sales tax revenues fell short of their $35 million projections, Ingram would cover any shortfall instead of making the city do it. This is worth something to the city, but almost certainly not anywhere near $35 million — how much depends on what you think the likelihood is of the taxes falling short, and by how much.
  • Ingram would also cover $85 million in stadium construction cost overruns, which is nice and all, but it was always going to be on the hook for stadium overruns, so this isn’t a savings to the public at all.

So where does this leave Nashville S.C.’s total subsidy demand? The stadium financing plan is super-convoluted, involving the city selling $225 million in bonds and then being partly repaid by the team. My best estimate previously was that about $50 million would be covered by sales taxes kicked back to the team by the state, to which we need to add $25 million that wouldn’t be repaid at all, plus the cost of the 14 acres of public land that would be handed over to the team for free. Even if we give Ingram the benefit of the doubt about who is currently supposed to pay for infrastructure overruns, and assume that the team will do absolutely terribly at selling tickets and nachos … we’re still probably looking at upwards of $50 million in public subsidies, especially counting the land value. And if we don’t Ingram the benefit of the doubt, he’s just offering a bunch of stuff he might have to pay anyway or might never have to pay at all, which would make the value of this offer closer to $0.

All that said, it’s certainly a sign that Cooper has managed to shake loose a carrot, even if a dried-out wrinkled carrot, to go along with the stick of last week’s nastygram from MLS about how if they’d known the new mayor was going to be a pain about this maybe they wouldn’t have given Nashville a team at all, sniff. Given that it’s extremely unlikely the league will rescind the franchise now — I doubt the acceptance of the $150 million expansion fee was made contingent on the mayor approving demolition permits — Cooper has lots of leverage to demand whatever he wants.

Whether that’s a better deal for the public or just more room to build other stuff at the fairgrounds site, though, remains to be seen. Cooper’s response called Ingram’s offer “$139 million in taxpayer savings,” which it most certainly is not, while instead focusing on the issue of Parcel 8C, a teensy plot of land between the proposed stadium and the nearby racetrack that Cooper wants to retain (for a racetrack expansion, according to Ingram), but which Ingram is insisting on getting (for a parking garage, according to Cooper), to the point of threatening to pull out of the agreed-on community benefits agreement if Parcel 8C isn’t included.

This seems like a strange hill to die on, and yet here we are. It seems extremely likely that something will get worked out in the end, especially if Cooper is willing to accept How about we pay you the money we were going to pay you anyway? as a legitimate offer, but demolition was supposed to start by the end of last year and here it is February and still the standoff continues. Elected officials do the strangest things.

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Friday roundup: Nashville SC “disappointed” mayor upset at overruns, Miami paying Super Bowl teams’ hotel bills, and the return of Cab-Hailing Purse Woman

It’s been a long week and there is apparently some other stuff in the news and also I want to go read the new Deadspin writers’ temporary blog that is not Deadspin, so let’s get straight to this week’s roundup, which is long, because remember what I literally just said about it having been a long week?

I absolutely cannot wait for the first stadium report to calculate the projected economic impact of Cab-Hailing Purse Woman. Clearly she’ll go anywhere to see a game of baseball and/or soccerfootball! How can your city possibly turn up its nose at the spending on ride-hailing services she will bring?

UPDATE: Someone just forwarded me another article with more Royals stadium renderings, and OMG that sign:

If you’re having trouble reading it, the side facing the camera reads “HEY CDC KC HAS THE FEVER,” which is apparently a joke about the coronavirus epidemic now threatening to sweep the globe? And the other side, facing the field, reads “TODAY’S MY BIRTHDAY SURPRISE ME WITH A WIN” which is a way too on-the-nose reference to the fact that the Royals have lost more than 100 games the last two years. Forget any innovations in stadium design, I want to hear more about how the Royals can draw more fans by encouraging negging.

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Friday roundup: New stadium demands in Calgary, 90% shortfall in promised Raiders jobs, corporate subsidies found (yet again) to do squat-all to create jobs

Happy Friday! Is Australia still on fire? (Checks.) Cool, I’m sure we’ll be ready to pay attention to that again as soon as there are some more images of adorable thirsty koalas.

In the meantime, news on some slightly less apocalyptic slow-moving catastrophes:

  • CFL commissioner Randy Ambrosie says the Calgary Stampeders deserve “a state-of-the-art, beautiful stadium” but he’ll “take my queues [sic, seriously, Montreal Gazette, you’re supposed to be an English-language paper]” from team execs for when “they think it’s time for me to be a guy who makes a little noise and tries to stimulate a positive discussion.” Yep, that’s a sports league commissioner’s job! Why a new stadium is Calgary’s job and not the Stampeders owners’ job is less clear, but given that the team owners did such a good job at extracting public money for an arena for the Flames (which they also own), you know they’re going to be jonesing for a sequel. (In fact, a Stampeders stadium was originally part of the Flames plan before Mayor Naheed Nenshi rejected it as too expensive and only would approve the Flames part, so maybe this is just a case of a team owner deciding it’s easier to get sports projects approved in serial rather than in parallel.)
  • It’s now been 100 days since Nashville Mayor John Cooper called a halt to Nashville S.C.‘s stadium construction, and Cooper is still not answering questions about when it may resume. Previous indications were that he’s refusing to issue demolition permits in order to renegotiate who’ll pay for cost overruns, but it would be kind of cool if he’s just realized that he can take advantage of MLS having approved a Nashville expansion franchise before everything was signed off on regarding public stadium subsidies by just declining to build the stadium and keeping the team. (Nashville S.C. will have to play in a 21-year-old NFL stadium until then, boo hoo.)
  • Las Vegas Raiders stadium proponents promised it would create 18,700 construction jobs, and now it’s only creating 1,655 jobs, and the stadium boosters say this doesn’t count off-site workers like “support staff at construction companies, architects and engineers, and equipment and service suppliers,” but really it’s more about how most of those 18,700 jobs were never full-time anyway. At least state senator Aaron Ford can sleep at night knowing he didn’t deny a single construction worker a job; guess he isn’t kept up by thinking of any of the people who were denied jobs by virtue of the state of Nevada having $750 million less to spend on other things.
  • 161st Street Business Improvement Director Cary Goodman has a plan for a new NYC F.C. stadium in the Bronx to benefit the local community by having it be owned by the local community, so that “when naming rights are sold, when broadcast fees are collected, when merchandising agreements are made, or when sponsorships and suites are sold, revenue would pour into the [community-owned] corporation and be distributed as dividends accordingly.” This sounds great, except that broadcast fees don’t go to a stadium, they go to the team that plays in a stadium, and also things like sponsorships and suites and naming rights are exactly the kind of revenues that the NYC F.C. owners would be building a stadium in order to collect, so it’s pretty unlikely they’d agree to hand it over to Bronx residents. We really gotta get over the misconception that stadiums make money, people; playing in stadiums that somebody else built for you is where the real profit is, and don’t anyone forget it.
  • Reporters in Kansas City are still asking Royals owner John Sherman if he’d like a downtown baseball stadium, and Sherman is still saying sure, man. (See what I did there? Huh? Huh?) This article also features a quote about how great a downtown ballpark would be from an executive vice president of Vantrust Real Estate, which owns lots of downtown properties; it must be nice to be rich and get to have your Christmas present wish lists printed on local journalism sites as if they’re news.
  • A new study of business tax incentives found that state and local governments spend $30 billion a year on them, with no measurable effect on job growth. Also, most of the benefits flow to a relatively small number of large firms (good luck getting a tax break for your pizzeria), and some states spend more on corporate tax breaks than they collect in corporate taxes, with five (Nevada, South Dakota, Texas, Washington, and Wyoming) spending an average of $44 per resident on tax breaks even though they have collect no state corporate income tax at all. (The biggest spenders on a per-capita basis: Michigan, West Virginia, New York, Vermont, and New Hampshire.) Surely local elected officials will now take a hard look at the cost of these subsidies and ha ha, no, even when tax breaks are proven failures it takes decades before anyone might notice and do anything about them, so don’t hold your breath that anyone is going to see the light just because of one more study, at least not unless it’s accompanied by angry mobs with pitchforks.
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Friday roundup: Nashville and Miami stadiums still on hold, cable bubble may finally be bursting, minor-league contraction war heats up

Happy Scottish Independence Day! And now for the rest of the news:

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