I’ve come up sick (COVID test still pending), so will be taking at least today and tomorrow off from FoS duties. Treat this as your open thread for discussing whatever you all like — here’s an article on the latest in the Diamond Sports cable network bankruptcy proceeedings and one on what a lousy deal the last Soldier Field renovation was for Chicago to get you started, but you can probably find other news as well on your own. See you in a couple of days, I hope!
22 comments on “Talk amongst yourselves”
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Get better soon, Neil!
Your voice is needed more than ever!
In other news, the local Tempe area paper is against Mr Meruelo’s arena sports complex.
Argument Against Prop. 303
Wrangler News Staff
March 13, 2023
The entertainment district that would be created by Prop. 303 is completely wrong for Tempe. Tempe’s diverse residents want a livable city with facilities and services that serve all of us. We are a caring city that looks after our most vulnerable residents. And we are a generous city, willing to pay fairly levied taxes to support those goals. Prop. 303 will require the city to impose hundreds of millions of dollars in taxes to finance a private business venture of a Las Vegas billionaire.
The Coyotes arena, luxury hotels and residences, and high-end shops will do nothing to meet Tempe’s needs. Instead they will create traffic congestion and will place expensive burdens on city services that have to deal with the crowds that the district is expected to draw. The congested, noisy entertainment district will detract from the healthful and serene ambience of Tempe Town Lake, the Tempe Center for the Arts, and the bike and pedestrian paths along the lakefront. While the rest of us pay our fair share of taxes, billionaire Meruelo will get a free pass on his obligations. We’re told that the entertainment district could have a net positive economic impact on Tempe. But these rosy projections are belied by the sad experience of Glendale and other cities that have been seduced by the siren call of publicly financed sports facilities. This is not who we are. This is not who we want to be. Please vote NO on Prop. 303 as well as the accompanying propositions, 301 and 302.
https://www.wranglernews.com/2023/03/13/argument-against-prop-303/
I agree. Vote NO on 303, so the Coyotes will finally leave Arizona once and for all.
Take it easy and get well soon.
COVID test is negative, anyway.
Glad to hear it. The problem is that now whenever anyone gets a cold you immediately think COVID. It is time we start treating COVID like the flu, an annual (or twice yearly) shot, and if you are high risk, an anti-viral when sick.
I would disagree on normalizing COVID too much: The last time I had COVID my symptoms dragged on for over a month, which is not the case for most colds and flus. And while Paxlovid is great for reducing severe symptoms, it also can lead to rebound, which can end up extending the time you’re sick.
I mostly tested to get a sense of my likely recovery time — though I had another non-COVID illness (possibly RSV?) in the fall that also dragged on for five weeks, so there are plenty of nasty bugs out there.
I believe this is missing Soldier Field link:
https://sports.yahoo.com/whether-chicago-bears-leave-not-100000751.html
Thanks, added.
I am a Chicago taxpayer, so no matter what I am getting screwed on Soldier Field.
I wonder if one way to deal with stadium issues is have the team secure the “loan” to the municipality by pledging part of the value of the team. When a team is sold (or on inheritance) the municipality gets the loan with some interest rate repaid.
Hope you’re feeling better soon!
It took me over a year to fully recover from my case of pre-vaccine Covid, and though I hear it doesn’t take that long for some, I am still against normally Covid as well.
On the absolute fleecing of the taxpayers that is the Soldier Field debacle, the money quote is at the end…I literally laughed out loud:
“I think the thing that people need to remember is that subsidies going to stadiums are NEVER a good deal,” Bradbury wrote to the Tribune. “Supporters always promise large returns, and then they are unapologetic when they don’t happen. This happens over and over again. Expecting a stadium to generate a revenue windfall for the community is like expecting Charlie Brown to kick the football. It’s not going to happen.”
Hope you’re better soon Neil!
OMG my dad had RSV. It’s a bear!
Stay safe and well Neil.
In positive news, sports at the international level are finally getting more scrutiny:
https://www.theguardian.com/sport/2023/feb/24/los-angeles-2028-olympics-karen-bass-ioc
The only thing worse than owing $800 million on an empty stadium, is owing $2 billion on a new stadium.
I’m really upset Montreal is not getting an MLB team. Is there another way for a plan to go forward? I liked the Tampa plan, could they still move to Montreal in 2027
There was never a plan, really, more a sketch on a napkin and “Play in two countries at once + ??? = PROFIT!”
https://web.archive.org/web/20190823065027/https://deadspin.com/the-madman-theory-of-the-montreal-tampa-bay-rays-1835887238
Good lord, this paragraph:
“Diamond, which initially began its grace period after skipping a $140 million interest-only payment to creditors in the middle of February, announced Tuesday it will now separate its business from Sinclair and become a standalone company. During bankruptcy proceedings, Diamond’s debt will turn into equity for its secured creditors.”
https://www.espn.com/mlb/story/_/id/35860875/diamond-owner-rsns-40-plus-teams-files-bankruptcy
Am I reading this right, that Sinclair is trying to get out of contractual obligations by spinning off the money-losing part of its business into a separate doomed company, then paying off creditors with equity in this lead balloon?
This is a fantastic development. I am immediately going to refinance everything I own so I can turn my newly expanded debt into equity and become magically wealthy! In fact, since I can apparently now refinance everything multiple times and not only doesn’t this increase my debt it adds assets to my equity every time I borrow against same!
And all of you can get in on this tremendous opportunity by buying part of my dequity!!!! The line forms to the left. Cash only please, no crypto.
It’s fun to read about NY considering a move to take away MSGs liquor license.
https://www.fool.com/investing/2023/03/12/ny-liquor-authority-looks-to-remove-madison-square/
The Athletic’s take on this Bally (no, I am not going to call it Bally-hoo) business….
https://theathletic.com/4307996/2023/03/14/rsn-diamond-sports-bally-sports-bankruptcy/
Dolan-MSG:
Unfortunately, there is no way to properly renovate Penn Station since when the arena was built the pilings for the arena were placed next to the railroad tracks.
If Dolan was offered the Hotel Pennsylvania site (with the construction of a new modern arena with proper ingress and egress) along with financing from the state Urban Development Corporation (similar to the financing used to construct the arenas in Brooklyn and Elmont as well as the stadiums in the Bronx and Queens) I am sure he would agree.
The best leverage the City and State have now is the operating permit which expires this summer.
The property tax exemption would then be irrelevant with the new financing (i.e., payments in lieu of taxes -i.e., pilots) and Dolan would no longer have his state liquor license in jeopardy.
I am sure there would also be almost no opposition from the community.
The Governor has now indicated she would be open to an alternative to the current proposal(s) as well.
Stay tuned.