PatsFanTX Posted February 25, 2015 Share Posted February 25, 2015 Didn't Kraft get like 50 million from the state for road improvmeents or such? He did pay the tab for the stadium. The state of Massachusetts provided $72 million for infrastucture costs, but the majority of that will be paid back. Funding: $325 million from Robert Kraft, including proceeds from CMGI Inc. signing a 15-year, $120 million naming-rights deal in August 2000; $72 million from the state for infrastructure, $40 million of which is to be paid back by the team over 25 years. Link to comment Share on other sites More sharing options...
Jet9 Posted February 25, 2015 Share Posted February 25, 2015 The state of Massachusetts provided $72 million for infrastucture costs, but the majority of that will be paid back. Funding: $325 million from Robert Kraft, including proceeds from CMGI Inc. signing a 15-year, $120 million naming-rights deal in August 2000; $72 million from the state for infrastructure, $40 million of which is to be paid back by the team over 25 years. 25 years for an NFL team to pay back $40 million? That's a sweetheart deal. Link to comment Share on other sites More sharing options...
New York Mick Posted February 25, 2015 Share Posted February 25, 2015 It's worked out so well for the other LA teams. Link to comment Share on other sites More sharing options...
Villain The Foe Posted February 25, 2015 Share Posted February 25, 2015 Why kraft did it, the SF Giants did it, Hick towns now are the only ones that subsidize. None of the 4 teams in Boston go subsidies. A few here and there doesnt sway my position of me having to see it to believe it. Besides, most of the time they're able to recoup in another fashion that isn't as outright as "tax money". Link to comment Share on other sites More sharing options...
patman Posted February 25, 2015 Share Posted February 25, 2015 Didn't Kraft get like 50 million from the state for road improvmeents or such? He did pay the tab for the stadium. yes the overpass over route 1, and the sewer, and utility site work. I am recalling that it was closer to 100 mill , the state gets 50% of the parking reciepts for all events for 25 years, 20,000 spaces x $20 (40/2) x 15 events x 25 years = $150,000,000 with 25 years of interest payments included.. Link to comment Share on other sites More sharing options...
patman Posted February 25, 2015 Share Posted February 25, 2015 It's worked out so well for the other LA teams. The rams were a very successful team both on the field and monetarily. Georgia Frontierre ruined the team, she was worse than Woody and Victor Kiam combined. Even so, they would have been ok if the raiders did not move in and make it untenable. The dodgers, angles, and Lakers are all very successful and well supported and now that Sterling is out of there the Clippers will be too.. Link to comment Share on other sites More sharing options...
patman Posted February 25, 2015 Share Posted February 25, 2015 A few here and there doesnt sway my position of me having to see it to believe it. Besides, most of the time they're able to recoup in another fashion that isn't as outright as "tax money". Of course he is going to recoup it, he is a businessman, as long as he does not get it at the cost of a public or quasi public bond who cares. What he will do in that area will put patriot place to shame commercially being in city, plus all the residential development. But the main thing, is that the stadium is privately owned and will pay property taxes based on value and not what some politicians decide a payment in lieu of taxes should be. Link to comment Share on other sites More sharing options...
Villain The Foe Posted February 25, 2015 Share Posted February 25, 2015 Of course he is going to recoup it, he is a businessman, as long as he does not get it at the cost of a public or quasi public bond who cares. What he will do in that area will put patriot place to shame commercially being in city, plus all the residential development. But the main thing, is that the stadium is privately owned and will pay property taxes based on value and not what some politicians decide a payment in lieu of taxes should be. Just making it known that people should be on the look out in case there's something to care about. Is that okay to do on the internet? Link to comment Share on other sites More sharing options...
patman Posted February 25, 2015 Share Posted February 25, 2015 Just making it known that people should be on the look out in case there's something to care about. Is that okay to do on the internet? Sorry, I did not mean to cause a problem. I am very aware that the powerful like being that way. Link to comment Share on other sites More sharing options...
patman Posted February 25, 2015 Share Posted February 25, 2015 25 years for an NFL team to pay back $40 million? That's a sweetheart deal. But the stadium is on the tax roles, it is not owned by a state authority, and why is it a sweetheart deal, it is just 25 years of more interest that has to be paid. Link to comment Share on other sites More sharing options...
Ghost Posted February 25, 2015 Share Posted February 25, 2015 More money! Smart move. I'm still mad we didn't get a stadium in NY. Link to comment Share on other sites More sharing options...
Jet9 Posted February 25, 2015 Share Posted February 25, 2015 But the stadium is on the tax roles, it is not owned by a state authority, and why is it a sweetheart deal, it is just 25 years of more interest that has to be paid. They can afford $40 million RIGHT NOW. Link to comment Share on other sites More sharing options...
patman Posted February 26, 2015 Share Posted February 26, 2015 They can afford $40 million RIGHT NOW. Yes, they could have paid it back, but why? The state gets more money in payments than what they would have gotten by issuing a bond, which over the last 8 years will probably be 2.00% tax exempt. They are getting about 5% this way and everytime Kraft goes up on parking they get 1/2. There is no downside for the commonwealth. Then you can look at that he would have had 40 mill less to invest in Patriot Place with all those jobs and local tax dollars. Link to comment Share on other sites More sharing options...
Jet9 Posted February 26, 2015 Share Posted February 26, 2015 Yes, they could have paid it back, but why? The state gets more money in payments than what they would have gotten by issuing a bond, which over the last 8 years will probably be 2.00% tax exempt. They are getting about 5% this way and everytime Kraft goes up on parking they get 1/2. There is no downside for the commonwealth. Then you can look at that he would have had 40 mill less to invest in Patriot Place with all those jobs and local tax dollars. Eh. Government shouldn't be in this business. Ever. Link to comment Share on other sites More sharing options...
tfine Posted February 26, 2015 Share Posted February 26, 2015 The state of Massachusetts provided $72 million for infrastucture costs, but the majority of that will be paid back. Funding: $325 million from Robert Kraft, including proceeds from CMGI Inc. signing a 15-year, $120 million naming-rights deal in August 2000; $72 million from the state for infrastructure, $40 million of which is to be paid back by the team over 25 years Kraft threatened to move to team to Hartford to get Mass to cough up more money. Link to comment Share on other sites More sharing options...
patman Posted February 26, 2015 Share Posted February 26, 2015 Kraft threatened to move to team to Hartford to get Mass to cough up more money. No, he did sign an agreement to move the team to Hartford, he did not threaten to do so. When the site did not pass the enviromentals, and delays were going to occur, he bailed and came back home. The state rep chairman Finnegan, then allowed a bill to provide on ramp access. In Mass there is a law that an exit ramp can not be built from a state highway to go to a private development. Ct was going to build and finance the stadium for him, a typical nfl sweeheart deal, he instead built Gillette Stadium and Patriot Place, At the beginning he submitted two proposals, the first was a giant Megaplex which would have had 3 venues, the new garden, a new Fenway and a dome stadium that doubled as a convention center. Menino shot that one down. The 2nd was where the new convention center is, he was going to build it himself and then operate the concessions and the parking, this time everyone, residents, mayor and statehouse said no thanks. That is when he moved to CT. Link to comment Share on other sites More sharing options...
patman Posted February 26, 2015 Share Posted February 26, 2015 Eh. Government shouldn't be in this business. Ever. Agreed, but there is a long history of tax breaks for companies to move from one state to another, that include sweetheart deals, most time the taxpayer gets taken to the cleaners, this time the taxpayers actually made out. Like I said Mass is the only state where all four teams play in privately financed stadiums. Link to comment Share on other sites More sharing options...
Larz Posted February 26, 2015 Share Posted February 26, 2015 um stan why can't LA support an NFL team ? ya ever wonder about that ? Link to comment Share on other sites More sharing options...
PatriotReign37 Posted February 26, 2015 Share Posted February 26, 2015 A stadium not even 20 years old is "outdated"? OK. There is talk of replacing the Georgia Dome. Link to comment Share on other sites More sharing options...
PatriotReign37 Posted February 26, 2015 Share Posted February 26, 2015 A stadium not even 20 years old is "outdated"? OK. The Edward Jones Dome is a freakin dump. Terrible location and they built it from the cheapest materials they could find. Im not surprised that place is falling apart. Link to comment Share on other sites More sharing options...
Morrissey Posted February 26, 2015 Author Share Posted February 26, 2015 There is talk of replacing the Georgia Dome.Talk? Link to comment Share on other sites More sharing options...
PatriotReign37 Posted February 26, 2015 Share Posted February 26, 2015 All owners should use their own money to build stadiums. Loser owners are always looking for tax payer handouts. But they bring jobs and tax revenue. Hotels are full, flights and rental cars. Not to mention when NFL players earn money in Cal they are taxed. Build a new NFL venue and a Super Bowl will be played there. 2015 - Santa Clara/49ers, 2016 Minneapolis/ Vikings. Link to comment Share on other sites More sharing options...
Jet9 Posted February 26, 2015 Share Posted February 26, 2015 The Georgia Dome and the Braves leaving Turner Field is a joke. I was just at Turner a year ago, they do NOT need a new stadium. And wasn't the Georgia Dome hailed as like THE BEST stadium in the late 90's? Apparently 20 years is the lifespan of a stadium now. Link to comment Share on other sites More sharing options...
PatriotReign37 Posted February 26, 2015 Share Posted February 26, 2015 Talk? Havent been keeping up with it. The Georgia Dome opened in 1992. Link to comment Share on other sites More sharing options...
PatriotReign37 Posted February 26, 2015 Share Posted February 26, 2015 The Georgia Dome and the Braves leaving Turner Field is a joke. I was just at Turner a year ago, they do NOT need a new stadium. And wasn't the Georgia Dome hailed as like THE BEST stadium in the late 90's? Apparently 20 years is the lifespan of a stadium now. The Georgia Dome roof leaks. They've had problems with high winds. Its very similar to the old Colts and Vikings stadiums. Link to comment Share on other sites More sharing options...
Jet9 Posted February 26, 2015 Share Posted February 26, 2015 The Georgia Dome roof leaks. They've had problems with high winds. Its very similar to the old Colts and Vikings stadiums. Come on dude. Link to comment Share on other sites More sharing options...
Morrissey Posted February 26, 2015 Author Share Posted February 26, 2015 The Georgia Dome and the Braves leaving Turner Field is a joke. I was just at Turner a year ago, they do NOT need a new stadium. And wasn't the Georgia Dome hailed as like THE BEST stadium in the late 90's? Apparently 20 years is the lifespan of a stadium now. The Braves white fan base don't like going into downtown Atlanta, so they are building a stadium in the burbs in Cobb County close to where they all live. Link to comment Share on other sites More sharing options...
Jet9 Posted February 26, 2015 Share Posted February 26, 2015 The Braves white fan base don't like going into downtown Atlanta, so they are building a stadium in the burbs in Cobb County close to where they all live. Yeah. My ex went to HS in Marietta. She fills me in on the comings and goings of ATL. It's the same reason they don't want to extend public transportation from Atlanta proper to the burbs. She's a huge Braves fan and I think is taking the move personally, LOL. Link to comment Share on other sites More sharing options...
operaguy Posted February 26, 2015 Share Posted February 26, 2015 Hopefully they move back to LA. Mr. Hess was always against the move, stuck to principle when other owners caved in to the fear of litigation (what's a bit more litigation when the league already deals with semi-regular antitrust related suits?).http://en.wikipedia.org/wiki/History_of_the_Los_Angeles_Rams#1995:_Things_fall_apart Only six teams remained in opposition to the Rams move from Los Angeles: the Pittsburgh Steelers, New York Giants, New York Jets, Buffalo Bills, Arizona Cardinals, and Washington Redskins. After the vote was over, Dan Rooney publicly stated that he opposed the move of the Los Angeles Rams because "I believe we should support the fans who have supported us for years."[ Link to comment Share on other sites More sharing options...
PatriotReign37 Posted February 26, 2015 Share Posted February 26, 2015 Come on dude. OK Dude http://news.google.com/newspapers?nid=1876&dat=19950828&id=eUkeAAAAIBAJ&sjid=Y88EAAAAIBAJ&pg=6041,2674182 2006 http://www.wsbtv.com/news/news/georgia-dome-springs-leaks/nJXp5/ 2008 http://usatoday30.usatoday.com/sports/college/mensbasketball/2008-03-15-2988373306_x.htm Link to comment Share on other sites More sharing options...
patman Posted February 26, 2015 Share Posted February 26, 2015 But they bring jobs and tax revenue. Hotels are full, flights and rental cars. Not to mention when NFL players earn money in Cal they are taxed. Build a new NFL venue and a Super Bowl will be played there. 2015 - Santa Clara/49ers, 2016 Minneapolis/ Vikings. That is so wrong, I don't know if you are being sarcastic. Besides the tax on the players salaries of 150 mill x 7% = 10.5 mill a year and say another 7 percent gate tax on 800,000 tickets is 6 mill and 80,000 fans buy $25 worth of crap and spend another $2 in sales tax that is 1.6 mill. about 20mill a year in revenue, the debt service for 400mill over 30 years is probably 1 bill dollars. What are they going to build a 500 room hotel close by, Big deal a superbowl, the are gets just as much impact as the rose bowl and parade and that happens every year. Now never mind the cost to the host town for cops, first responders, At gillette thee has to be 100 state troopers on route 1 all day. Can you imagine how many cops must be there in an urban setting. Now a baseball stadium in use for 81 games plus events, may break even. Baseball does not have the tailgate tradition, families go to local restaurants, visiting team fans stay the weekend and catch 3 games. My wife's friends fly down to Camden yards and stay for 3 days to see the sox. Football fans are likely to fly in and out the same day as the game day. Link to comment Share on other sites More sharing options...
PatriotReign37 Posted February 26, 2015 Share Posted February 26, 2015 That is so wrong, I don't know if you are being sarcastic. Besides the tax on the players salaries of 150 mill x 7% = 10.5 mill a year and say another 7 percent gate tax on 800,000 tickets is 6 mill and 80,000 fans buy $25 worth of crap and spend another $2 in sales tax that is 1.6 mill. about 20mill a year in revenue, the debt service for 400mill over 30 years is probably 1 bill dollars. What are they going to build a 500 room hotel close by, Big deal a superbowl, the are gets just as much impact as the rose bowl and parade and that happens every year. Now never mind the cost to the host town for cops, first responders, At gillette thee has to be 100 state troopers on route 1 all day. Can you imagine how many cops must be there in an urban setting. Now a baseball stadium in use for 81 games plus events, may break even. Baseball does not have the tailgate tradition, families go to local restaurants, visiting team fans stay the weekend and catch 3 games. My wife's friends fly down to Camden yards and stay for 3 days to see the sox. Football fans are likely to fly in and out the same day as the game day. Wrong my axx If NFL teams/stadiums are such a drag on cities then why do they fight tooth and nail to keep the team from leaving? Link to comment Share on other sites More sharing options...
PatsFanTX Posted February 26, 2015 Share Posted February 26, 2015 The Georgia Dome roof leaks. So does the Falcons defense. Link to comment Share on other sites More sharing options...
Jet9 Posted February 26, 2015 Share Posted February 26, 2015 OK Dude http://news.google.com/newspapers?nid=1876&dat=19950828&id=eUkeAAAAIBAJ&sjid=Y88EAAAAIBAJ&pg=6041,2674182 2006 http://www.wsbtv.com/news/news/georgia-dome-springs-leaks/nJXp5/ 2008 http://usatoday30.usatoday.com/sports/college/mensbasketball/2008-03-15-2988373306_x.htm You're right. Every time my house had a leak in the roof I just moved into an entirely new spot. New construction every time too. Link to comment Share on other sites More sharing options...
PatriotReign37 Posted February 26, 2015 Share Posted February 26, 2015 You're right. Every time my house had a leak in the roof I just moved into an entirely new spot. New construction every time too. Not a big deal having thousands of pounds of water falling on 75,000 people. Link to comment Share on other sites More sharing options...
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