it is stupid. kroenke has proposed building the inglewood stadium (+$1.9B) entirely with private financing.
he must be a magician. an egyptian magician.
I agree it's silly that City's have to offer incentives for pro franchises given their wealth. But, for City's like KC (unlike LA or NY), this is just reality. Ask STL.
http://www.bizjournals.com/stlouis/blog/2015/09/stadium-financing-report-rams-have-biggest-villain.htmlSince 1995, 29 of the 31 National Football League stadiums have received public subsidies, with taxpayers spending nearly $7 billion on construction and renovation projects, according to a report from the Taxpayers Protection Alliance (TPA), a conservative Washington, D.C., nonprofit affiliated with the Koch brothers.
For the new stadium in St. Louis, taxpayers would pay just less than 40 percent of the roughly $1 billion total cost. Not included in that is private seat licenses, which are estimated to contribute $160 million to the project, but under the private sources portion of funding.