"Now, what is this site about, how Joe Torre ruined pitchers' arms? Is that it?"
-Michael Kay, August 18, 2009

Friday, January 16, 2009

Yankees receive more funding

According to this AP article (via ESPN), the Yankees and Mets will receive more funding for their stadiums.

The teams sought to issue more bonds as costs increased on the new ballparks, both scheduled to open with exhibition games on April 3. Opponents say the original deals were unfair to taxpayers.

The Yankees asked for another $259 million in tax-exempt bonds and $111 million in taxable bonds. That is on top of $940 million in tax-exempt bonds and $25 million in taxable bonds already granted for its $1.5 billion Bronx stadium.

The Mets wanted an additional $83 million, after the $615 million already approved for their $800 million Queens park.
That's a lot of money. I don't want to get political here, but I find it hard to give this much money to already expensive projects. I'm just glad I don't have to make these decisions.


Bob Ruffolo said...

At the new Stadium is gonna be amazing.

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