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February 28, 2009
Miami commissioner demands half-billion in unmarked bills for stadium vote
Miami city commissioner Michelle Spence-Jones has emerged from her maternity leave, and she has done so with a bang: The swing vote on the five-member city commission that will help decide the fate of the Florida Marlins stadium deal says she'll only approve the project if she gets half a billion dollars in development money for her district in exchange. "Overtown must get its fair share," Spence-Jones said in a statement released yesterday, one week before the city commission vote. If not, "the Marlins will strike out on March 6."
Needless to say, Miami doesn't have half a billion dollars sitting around, but Spence-Jones has identified a funding source: part of the expanded Community Redevelopment Agency money that was created as part of the Marlins stadium deal. Unfortunately, that money is already earmarked for paying off $484 million in existing debt on Miami's arts center, freeing up tourist tax money that was paying off the arts center to be redirected to the Marlins stadium. It's not entirely clear whether Spence-Jones is talking about instead using this money in Overtown or further expanding the city's CRAs to generate new funds — if the former, either the arts center or the stadium would need to find a new way to pay for its construction debt; if the latter, the city would end up with a $500 million hole in its property-tax receipts, as a large chunk was funnels off to the CRAs.
Meanwhile, as if the Marlins needed even more bad news, the Miami Herald has revealed that an obscure clause in their stadium deal means the team could get out of paying the county a share of profits on sale of the team if owner Jeffrey Loria dies first, then his heir sells the team instead. Remarked county commissioner Joe Martinez: "That sucks." (No, really, that was his quote.) With the county commission's approval required after the city commission, Spence-Jones' baksheesh demands could be only the beginning of the Marlins' headaches.
Neil, that's about as accurate a title to a post as you've ever written. Who did Spence-Jones learn governance from, Meyer Lansky? Good grief.
Posted by Tom on March 1, 2009 05:09 AM
Spence-Jones makes the former Governor of Illinois seem like St Francis of Assasi.
Posted by Januz on March 1, 2009 10:31 AM
A private company wants over half a billion dollars in public money to finance a private project and the swing vote comes down to an individual who did not even finish community college (check her bio). Given this, one wonders what rationale she used to make pro-stadium votes in 2007 and 2008.
Posted by George on March 1, 2009 12:53 PM
MLB should just get it over and contract the A's and Marlins.
Posted by Howard on March 2, 2009 03:21 PM
No baseball team can relocate. Attendence is down. TV revenues are way down. Team owners are too greedy. City's have caught on. No City's want to provide taxpayer money to baseball stadiums. (The Marlins got lucky and found idiots at Miami-Dade County). The Marlins have a stadium and employees already. At Dolphin Stadium.
Posted by Steve Cakok on March 2, 2009 11:42 PM
Contraction is coming. It is inevitable. It's how these sports leagues will survive.
I got lambasted for saying the same thing on Kawakami's blog, and then brought up the Coyotes. The person I was arguing with had no idea.
There's a credit crunch right now, and I just can't see anyone buying the revenue anticipation bonds the plan in Sacramento will almost certainly require.
Moag got on KHTK in Sacramento today, and touted the transparency of the negotiations in Sacramento... Even the proponents of the arena in Sacramento complained how they didn't know the plan before their meeting on Friday! The Moag interview is almost certainly on the KHTK website; what I heard of it was a hoot. Well, okay, not a hoot... I was swearing at my radio when I heard it.
The NBA ostensibly does not want to lose Sacramento, because it's such a hotbed. Yeah, sure, last place in attendance, bleeding cash... What a hotbed. I don't know, do the Maloofs have pictures of Stern with a couple LV hookers or something?
Contraction is coming. No one really wants it, but this recession is huge, and getting larger. You really don't understand the impact of nearly 100,000 people getting 10% pay cuts in Sacramento. Things like season tickets are the first thing to go. The Kings haven't felt that impact yet. And they're one of the few teams that will.
Posted by MikeM on March 3, 2009 02:46 AM
Contraction may or may not be coming, but if it is, it won't happen soon. Teams will relocate, first. The Sprint Center in Kansas City will get a team before anyone "contracts" an NHL or NBA franchise.
Contraction, if it comes, will probably be well after it should have happened. At least in the big four sports. You'll see "league owned" teams (like the Expos) before you see contraction.
Short term, contraction is something that is happening in smaller sports (AFL - the entire league) and minor leagues (Atlanta Silverbacks in USL1).
Never underestimate the collective will of major sports leagues owners to keep the status quo.
Posted by Andy on March 3, 2009 09:10 AM
Pro sports are going to have to learn these two words: Open system
Constant relocation threats and actual relocation just aren't sustainable. If people stop investing so much emotional input into these sports teams and start treating them as just another entertainment option then look out!
The British and Europeans do it better! Promotion/relegation. Clubs that are in the given communities for 100+ years. Clubs that are actually...clubs and not franchises, like we have here.
Posted by Transic on March 3, 2009 11:42 PM