Sports

NYT: Stadiums Leave Deep Debts

By RTH Staff
Published September 08, 2010

A timely article in today's New York Times investigates the lingering debts municipalities must assume for publicly funded stadiums:

How municipalities acquire so much debt on buildings that have been torn down or are underused illustrates the excesses of publicly financed stadiums and the almost mystical sway professional sports teams have over politicians, voters and fans.

Rather than confront teams, they have often buckled when owners - usually threatening to move - have demanded that the public pay for new suites, parking or arenas and stadiums.

Sound familiar?

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By nobrainer (registered) | Posted September 08, 2010 at 08:37:06

It's worse than that, we actually want to build the Ticats a stadium and that's still not good enough for them. :P

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By JM (registered) | Posted September 08, 2010 at 08:48:41

...yea, handed to them on a silver platter. but thats not good enough - they'd rather have gold, thanks.

JM

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By moylek (registered) - website | Posted September 08, 2010 at 08:52:39

...yea, handed to them on a silver platter. but thats not good enough - they'd rather have gold, thanks.

Gold ... closer. But I believe that what Mr. Young wants is something far more valuable ... he would like the stadium handed to him on a large asphalt platter.

Comment edited by moylek on 2010-09-08 07:53:22

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By cityfan (registered) | Posted September 08, 2010 at 08:57:57

tell us something we don't know!

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By Hopeful (registered) | Posted September 08, 2010 at 09:16:56

Glad to see this posted here. It's a really interesting read.

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By Vod K (anonymous) | Posted September 08, 2010 at 09:50:28


http://www.theglobeandmail.com/sports/football/ticats-future-home-will-determine-the-definition-of-the-franchise/article1697588/

http://www.fan590.com/ondemand/media.jsp?content=20100907_130222_9648

one great article (and follow up interview)from arguably Canada's best sports reporter (and Hamiltonian) Stephen Brunt. He seems to have at least some confidence that the MIP compromise will work.

He does state that you could be looking at a "Halton stadium" of that falls through. This articles should be required reading for Burlington residents.!

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By Robert D (anonymous) | Posted September 08, 2010 at 10:32:43

Halton stadium? I'm sorry, but I think the people of Halton region have even less appetite for increased taxes than the people of Hamilton.

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By highwater (registered) | Posted September 08, 2010 at 11:48:22

Love this quote from one of the comments:

Sports arenas are the product of prosperity, not a driver of prosperity!

And of course, in the fine Hamilton tradition of making everything worse, if we build on MIP it will be a driver away of prosperity.

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By HamiltonFan (registered) | Posted September 08, 2010 at 13:14:32

No question that stadiums and arenas are pricey and it is certainly prudent to question any such project and the value that any community derives from such a building. NHL, CFL, MLB, MLS, NFL etc. teams are not required by any community to say that a community has "made it" or whatever, hardly. And I'm saying that as a sports fan.

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By cityfan (registered) | Posted September 08, 2010 at 22:34:19

This just in!

According to Tim Horton's, 'Tiger Cats Supreme donut' aren't selling as well as they thought. Apparently customers are surprised they are more EXPENSIVE.. than anticipated!

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By brian (registered) | Posted September 09, 2010 at 12:46:17

http://www.globaltvedmonton.com/stadium+...

Looks like the Regina stadium is a little bit closer. They intend on spending 400 million on the project..

"The Canadian Pacific rail yard north of downtown has been secured as the future site of the $400 million project. Over 32 acres of land, which was identified in the initial feasibility report as the best location, will be released to the government if the stadium goes ahead."

...rail yard north of downtown...interesting...

http://www.cbc.ca/canada/saskatchewan/st...

382 million with an optional retractable roof adding $45 million to the bill.

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