December 23, 2009

White Elephant Watch: Stadiums for sale or lease, cheap

The Wall Street Journal, killing time over the holiday season like the rest of the news world, has a look at some stadiums that are sitting empty after their tenants up and left for newer digs. (The official excuse is "last-minute gift ideas" for "well-heeled holiday shoppers.") Among the highlights:

• The Astrodome: "After plans fell through to convert the facility into a hotel and convention center, there are groups lobbying to turn it into everything from a movie studio to a planetarium."
• The Beijing "Bird's Nest" Olympic stadium: "With annual operating costs of roughly $10 million, the facility was placed under government management in August to curb financial losses."
• San Antonio's Alamodome and Memphis' Pyramid Arena, both of which were abandoned by their anchor tenants before their 13th birthdays.

Or, if a used stadium is too tacky a gift, you could also build your loved one their own for $20 million. It'd be "temporary," but if there's any kind of lesson here, it's that all stadiums are.