Yankee Stadium? Citi Field? At least we have our priorities rightWe are now 230-odd years into the American experiment and one thing is clear -- like the Roman Empire before us, we love our games!
(Fact: When Nero fiddled, he was in a luxury box at the Colosseum.)
New York, the most sophisticated sports town in Sports Nation, brings us two spectacularly expensive new stadiums this month -- rent-free and property tax-free for the Mets and the Yankees -- largely subsidized by public money on city-owned land.
The Mets' new Citi Field, a.k.a. Belly-Up Ballpark, cost $850 million.
The new Yankee Stadium -- boy, that old Yankee Stadium was a real stinker, eh? -- cost $1.5 billion.
Amazingly, in a city faced with myriad budget problems, the Mets and the Yankees not only successfully solicited public financing, both clubs came back with their hand out a second time -- and got more money.
Schools? No money.
Subway? No money.
Stadiums? How much do you need? Thank you sir, may I have another.
During the seventh-inning stretch at the new Yankee Stadium, they shouldn't sing Take Me Out of the Ballgame, they should sing, Brother, Can You Spare a Dime?
As it turns out, George Steinbrenner is a welfare mother with a sugar daddy. His name is Michael Bloomberg, he's the eternal mayor of New York City and he hands out tax-free bonds like Kit Kat Club flyers.
The Yankees got $1.2 billion in tax-exempt bonds and $136 million in taxable bonds; the Mets got $697 million in tax-free bonds.
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