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Old February 9 2009, 03:56 AM   #13
George Steinbrenner
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Re: Demise of an Olympic Stadium

DJP691 wrote: View Post
Babaganoosh wrote: View Post
the_wildcard wrote: View Post
^^^^ I thought that was the Expos baseball team, lol.
Not really sure what you're getting at here; the Expos are now the Washington Nationals, and their new park is hardly dilapidated (it was only just completed last year). And I believe it's fully paid for - without taxpayer funds.
DC taxpayers dropped some $600 million on the Nationals new stadium.
I'm only going by what I read here. Specifically:

Financing for the stadium was expected to be provided by a banking syndicate led by Deutsche Bank. However, finalization of the financing deal stalled due to complex negotiations among the city government, MLB as owner of the team, and the bank. The bank requested a letter of credit or comparable financial guarantee against stadium rent to cover risks such as poor attendance or terrorism. The requested guarantee was $24 million, with the city requesting that MLB provide the guarantee.
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