NFL Team St Louis Rams Move And Leave City With Over $100 Million In Debt

[WhatInThe]

This is why the tax payers and local governments should not kowtow to a professional sports team or any business actually. The NFL team/St Louis Rams are moving and will leave the city with $144 million dollars in debt after the team threatened to move years earlier unless the stadium got $700 million in improvements. The NFL has yet to respond to requests to help pay off the bill.

http://www.reuters.com/article/us-sports-nfl-stadiums-insight-idUSKCN0VC0EP

The city had to vote down a proposal for new fire and police trucks. It's also noted that football stadiums are hard to reuse or find alternate purposes.

The benefits of publicly funded stadiums have been in question with the taxpayer frequently losing out.

http://www.avalara.com/blog/2015/04...nk-venues-for-final-four-wacky-tax-wednesday/

 

[Don M.]

The owners of these Pro teams are all millionaires, or billionaires, and the athletes make ridiculous salaries. If they want to build an opulent stadium, and finance these outrageous profits, let them do so via their ticket prices. Public funding should NOT be involved in ANY Sports/Entertainment projects, IMO.

St. Louis is already in sorry shape, financially, and this latest "blackmail" from their football team is only going to sink that city even further. St. Louis, proper, is rapidly becoming little more than a slum...except on the riverfront, in close proximity to the Gateway Arch. Ferguson, and its problems, are atypical of where that city is headed....all the wealthier people live in the Western and Southern suburbs.

 

[SifuPhil]

Yeah, lets paint our faces, take off our shirts and give a big cheer!