Amazing...*shakes head*
NFL 2016-2017
- Thread starter JeffinOakland
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As an Oaklander, I can't really blame Mark Davis. It's the smart business decision. The incompetence of the mayor's office and Oakland city council has been a huge problem for years. Decades. When Jerry Brown was the mayor, he tried to get the city council and other Oakland leaders to talk about news stadiums for the A's and Raiders. The council wouldn't even discuss it. Blame the NFL and Davis all you want but this is squarely on the shoulders of Oakland's "leadership."
It's more the financial ramifications on Las Vegas and their "leadership" decisions.
But, the NFL means money so I'm not surprised. Just very frustrated by it.
That's what it likes municipalities to think. But because these public financing deals are generally done through issuance of 20-year bonds, after inflation they generally wind up losing a metric fuckton of money.
Cities should not be in the business of subsidizing private enterprise. If Mark Davis wanted a mallpark of a stadium in Las Vegas, he could have done what every other developer does -- go to a bank and ask for a loan. Not suckle at the taxpayers' teat.
No argument here.
It is terrible that cities fall for this time after time. But, if I'm Davis (or the NFL/MLB/NBA/NHL/MLS), I'm not going to say no if a city offers me a billion dollars in incentives to come. *Not sure of how stable a long term market Las Vegas will be. But that's another story.
Las Vegas is just the current sucker. Either Oakland/St. Louis/San Diego will be next when they realize they want another NFL team.
Oakland's on the hook for $13 million a year in debt service on the Coliseum until 2025, not surprised they'd like to boot them. It would save the Coliseum Authority a shit-ton of money each year to not have to convert it back and forth from football to baseball usage and back.
Do the Raiders still have to pay till 2025 if Oakland tears the thing down and builds a new baseball park for the A's?
Wouldn't it be Oakland on the hook for those bonds since they were the ones who issued them?
Yes, that's what I meant, my apologies.
Have fun paying a hundred bucks for a parking spot.
Yep. Aren't they putting the stadium right on the Vegas strip?
Infrastructure costs are nothing close to the near quarter of a billion dollars or more, that cities are typically asked to come up with on order to get an NFL stadium built.
I'm sorry for the Oakland fans, but I applaud the city of Oakland for not selling out it's taxpayers to make a billionaire, more of a billionaire.
Amen.
I only hope he can have a good life after the all beatings he took and the injuries.
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