Nothing like a week that starts out with a plan for a $1.147 billion stadium subsidy deal and ends with it somewhere well north of $2 billion. But the Washington Commanders horror show wasn’t the only news of the week, so let’s dive in and see what else has been going down:
- How are Ohio state legislative leaders taking the news that two different state budget analysts have said that the numbers on a proposed $1.2 billion Cleveland Browns stadium subsidy look terrible? “When the Browns put forward those numbers, they’re not putting forward numbers that they grabbed out of a hat. They’ve hired professionals on their side, too,” retorted state senate president Rob McColley. Professional economists on one side, professional clowns on the other, the truth must lie somewhere in the middle! McColley added that senators are “going to make sure that those numbers add up” and will include a “fail-safe” to ensure the state gets its money back, can’t wait to see how that goes.
- Meanwhile, Cuyahoga County Executive Chris Ronayne has asked the state legislature for $350 million to renovate the Browns’ current stadium instead, calling it a “better, and less expensive option,” which is both true and a perfect example of the anchoring cognitive bias. Cleveland Mayor Justin Bibb has already offered $240 million in city money toward renovations; this now makes three different official plans for giving upwards of half a billion dollars to Browns owner Jimmy Haslam and none for not giving him any.
- Here’s a handy chart of where D.C. councilmembers stand on the proposed Commanders stadium deal, with the current tally being four yes, four no, three undecided, and one did not answer. There’s also a special election to fill the Ward 8 seat left vacant by the expulsion of councilmember Trayon White for bribery charges, which is expected to be won by none other than Trayon White, but that’s not till July 15 and the stadium deal has to be voted on by then (quelle coincidence!) so it won’t count, meaning Commanders owner Josh Harris and Mayor Muriel Bowser need to collect three more yes votes from the four remaining swing votes; staffers in those offices might want to take their phones off the hook for the next 11 weeks, because the full-court press lobbying campaign is doubtless going to be brutal.
- Concessionaire Aramark is reportedly in “talks” with (Your City Name Here) Athletics owner John Fisher about investing $100 million in a Las Vegas stadium project and another $100 million in the team, if by invest you mean pre-paying concession fees that Fisher would get anyway.
- New soccer stadiums may sound like a great idea to boost team revenues and revitalize cities, writes Aaron Timms in the Guardian, but they often don’t work out that way, leaving fans unhappy at sterile new buildings and teams struggling to repay construction costs. Unless you’re in the U.S., where it’s cities that are on the hook for much of the costs and struggling to repay them: “Stadium-led revitalization is the myth that will survive the apocalypse. New stadiums, as a vast body of academic literature shows, bring few of the economic benefits that developers, team owners, and local politicians promise. Whatever stimulus they offer to economic activity in their immediate vicinity is invariably offset by a corresponding depression in spending and investment in other areas of the same city.”
- The people who want to bring an MLB team to Orlando say they have close to $1.5 billion lined up to buy a team, which sounds impressive until you realize MLB wants $2 billion for expansion franchises and somebody would have to build a new stadium in Orlando too, but “Orlando rich people happy to pay $1.5 billion toward a team and stadium worth double that” didn’t look as good atop the press release.
- How’s the economic boom in Green Bay from hosting the NFL draft going? “Sales were down maybe 50%,” Cold Stone Creamery Green Bay owner Amin Elhalw said. “Gradually the closer we got to the draft, the sales were decreasing, the percentage.” Local businesses blamed draft traffic and road closures for keeping away regular customers, funny how that happens.
- The developer of the Ybor City site in Tampa where Rays owner Stu Sternberg was at one point considering building a stadium (until it turned out nobody wanted to pay to build it for him) now says there’s no room for one, “unless the Rays can build a very tiny stadium.” Turns out building apartments and shopping pencils out better, funny how that happens.
If I were Cleveland, I’d use that $240 million in renovation money to renovate their current stadium into a lakefront park, a beach, and infrastructure for high density housing on the site.
“They’ve hired professionals on their side, too,”
Top men. Top. Men.
If this keeps up, I’m going to start to draw negative inferences about elected officials in Ohio.
The A’s Aramark numbers suggest that they are one of “$200 million investors” the team was touting a few weeks ago.
“They’ve hired professionals on their side too.” Yeah, let’s listen to the people they hired to convince us and not the people we hired to make sure they weren’t trying to trick us.
When I gave my speech on Farragut, I was expecting more from my fellow 11th graders than crickets when I exclaimed, “Damn the torpedoes, full speed ahead!”