January 14, 2009
Stadium Financing
New York Yankees Update offers a simplified look at the financing of Yankee Sadium, and comes down on the Yankees side.
Posted by David Pinto at
06:01 PM
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I might go with "over-simplified." I'm not entirely surprised that a blog about the Yankees supports the Yankees on this one, but I don't think it's an entirely fair account of the pros and cons of the stadium deal.
The Bloomberg can't make a bad deal since he's rich argument was particularly clever.
Admittedly, I don't think it's a great deal for the taxpayers, and I'm slightly troubled at the amount that the NYY talking points are making the rounds, but really, I'd just like to see a good unbiased look at the situation.
I'm not entirely surprised that a blog about the Yankees supports the Yankees on this one
Uh. Because blogs about a given sports team generally support the actions of that team no matter what? You don't read a lot of team blogs, do you? (In my experience, team blogs are hypercritical of their teams, esp. management.)
Maybe you mean Yankee bloggers in particular. But you'd still be wrong -- think how critical NoMaas is. And here is what River Ave Blues had to say.
Whoa, whoa. Hold on up. Maybe I worded that one poorly, but really. Hold on.
If you read the actual post, there's a troubling tendency to take what Levine says as truth. Now, maybe I'm cynical, but I'm assuming that the Yankees president probably has an interest in getting the public behind the 1.3+ billion dollar stadium being built.
Also, if we're going to pick things apart: I didn't say that every sports blog supports every decision that management makes, so that's a bit of a straw man. However, criticizing a team for signing Andruw Jones or letting Smoltz go is a little different than criticizing the team over how they're paying for their new stadium construction.
And don't worry. I wouldn't dream of singling out Yankees fans as some sort of lapdog party hacks. Some of my favorite team blogs (esp. the aforementioned RAB) are for the Yankees.
The city has a limited amount of borrowing available to it at any time. Was this the best use for it, or was this a "bread and circuses" move?
I don't fault the Yankees - they made very strong demands and got what they wanted. The problem lies politically with htose who are supposedly playing games with land valuations to justify the amount of tax free borrowings.
The next time I want to fix my co-op, I want the city and IRS to allow me to borrow tax free and use my monthly debt payments in lieu of taxes.