credit card reform act 2014 wiki does the itunes store need credit card credit card swipe for home computer how to apply credit card from sbi peoples credit card info credit cards that are easy to obtain pay sams credit card walmart avoid credit card cloning low limit credit card for bad credit apply first saving credit card mileage plus credit card offers pay sear credit card online closing credit card accounts credit score bowflex credit card interest rate using credit card paypal without account credit cards credit score 550 paypal vs credit card protection lowest interest credit cards in usa chase credit card with disney rewards hsbc portable credit card machine what is a judgement from a credit card company standard chartered credit card reviews india credit card balance transfer apr calculator considered high apr credit card starter credit cards students no credit marathon credit card payment center best intro apr credit card first national credit card legacy visa ripoff best credit card debt solution how do i update my credit card info on itunes credit card chargeback time limit hypercom credit card machine not printing does paypal verify credit card address top up credit card from post office virtual terminal credit card delete credit card details groupon continental chase credit card perks credit card foreign transaction fee bank america new millenium credit card online credit card instant approval canada citibank credit card american airlines when is it best to pay credit card bill best credit card india 2010 is the chase amazon credit card good southwest credit card cancellation fee credit card negotiation letter sample credit card holders leather women cant add prepaid credit card paypal natwest credit card international number buy car credit card canada where can i buy prepaid credit cards in ottawa bad credit store cards bank of america chip credit card amazon credit card account sign in approval credit card calculator payment interest use paypal newegg without credit card york university credit card payments first national credit card legacy visa phone number citibank credit card foreign exchange rate first four digits mastercard credit card credit card banks make money credit card numbers that work with security codes free prepaid credit card with no monthly fees us dollar credit cards in canada lic premium online payment through citibank credit card rbs credit card services co uk cell phone credit card reader canada swipe credit card iphone 4 citibank choice credit card application form top credit card processors 2012 credit card balance transfer offers life loan paying 2 credit cards amazon bank america credit card payment login bank of america credit card account online credit card flash drive - 8gb average credit card debt per person 2011 southwest airlines visa business credit card get credit card credit score 500 if your credit card declined does affect your credit score negotiate credit card debt sample letter department store credit cards low credit scores credit card mileage bonuses hotel credit card offers prepaid credit cards no credit check canada credit cards banks india british airlines visa credit card what credit card has the best rewards apply first credit card canada hsbc teamsters credit card natwest credit card contact number services partners federal credit union credit card payment how to get a credit card company to lower my interest rate cenex credit card payment citifinancial credit cards for bad credit american airlines miles credit card mypoints visa credit card intuit credit card processing canada low rate student credit card fidelity credit card processing secured credit cards from bank of america hdfc bank platinum plus credit card reward points catalogue platinum plus credit card review first national credit card application pay tax with credit card website i need a loan to pay off my credit cards military star card exchange credit central at&t credit cards university credit card fees bank of new york credit card best credit card sign up bonus miles offers bluegreen rci credit card credit card payment systems llc minimum credit score for credit card canada cash credit card out make small credit card holder post office preloaded credit card no credit cards for people under 21 tesco clubcard credit card best way to consolidate credit card debts 1st bank to introduce credit card in india capital one joint credit card credit card machine cell phone adapter visa credit card helpline number hsbc premier credit card uk capital one journey credit card application lucky credit card american express credit card application southwest airlines free flight credit card reclaim credit card payment protection insurance 1st financial bank usa credit card o balance transfer credit cards poor credit secured credit cards to start credit does secured credit card build credit history prepaid travel credit card virgin credit card miles how to send money from credit card to debit card can you rent a car with a prepaid credit card in toronto american express prepaid credit cards reviews westpac credit card travel insurance policy how to change credit card paypal my credit card account number bank america credit cards frequent flyer miles no annual fee rei visa credit card login household credit card apply marshalls credit card status use paypal accept credit cards online what is the best airline credit card rewards number of credit cards issued in australia freeze credit card in ice hhonors credit card american express how to get a european credit card in the us hdfc credit card investment plans best rewards credit card 2010 us credit cards for business dubai first credit card statement can you pay chase credit card bank chase credit card cash advance without pin pay with 2 credit cards best buy clear credit card free fake credit card numbers and cvv2 credit card companies offer joint accounts iphone credit card reader application apply for unsecured credit cards with bad credit best mastercard credit cards canada credit card check java code online shopping credit card number ge money bank credit cards phone number citi aadvantage credit card logon quick and easy credit card approval hdfc credit card gold coin credit card scams in chicago case-mate id credit card slim case for iphone 4 / 4s how long to pay off credit card chart credit card balance transfers uk shell credit card secure login sunoco credit card application can a credit card company garnish my wages in georgia can international students get credit card in uk law credit card collection philippines wamu credit cards log online access my credit card cc metro style flash drive cheap credit card conveniently how can i get preapproved for a credit card what is an annual fee on a credit card mean partners first business credit card my credit card interest tax deductible secured canadian credit cards credit card with air miles comparison gemoney bank credit card login mobile credit card swipe machine standard chartered credit card malaysia redemption bin credit card number funny quotes credit card debt cancel victoria;s secret credit card online canceling a credit card affect score credit card debt repayment stories best no transfer fee credit cards create itune account without credit card 2012 cimb credit card online password real credit card numbers with cvv and expiration date online credit card payment for citibank india rebuilding your credit secured credit card accept credit card payments my website remove credit card amazon uk how to find cvv on credit card credit cards with best rewards programs 2011 credit cards use hsbc best skymiles credit card offers credit card number generator with cvv and expiration date 2011 better settle debt credit card company collection agency jcpenney credit card number credit card with no interest for 18 months natwest world credit card review payment using credit card paypal where do i go to pay my shell credit card online credit card offers for minors first progress platinum secured mastercard credit card best secured bank credit cards top 5 credit card rewards programs does secured credit card build credit canada procedure applying credit card sbi citi credit card sears what to know about credit cards disney credit card with points use my bridgestone credit card first savings credit card citibank credit card payment centers philippines baby r us credit card hdfc mastercard credit card offers what is my citibank credit card account number google play update credit card square credit card reader fees younkers credit card customer service number check credit card application status navy federal capital one secured credit card online banking how to pay via paypal with credit card credit card act advertising rules unsecured major credit cards for bad credit bank of america visa credit card online payment cimb credit card centre fax number credit card machine printer tape chase mastercard credit card login credit and debit card processing fees best credit card rewards scheme slate chase credit card log sunoco credit card accountonline bbva compass credit card bill pay where is the credit card number on a visa debit card visa credit cards college students blue dog credit card processing guaranty bank credit card processing credit card number list with cvv visa credit card apr cash advances hsbc credit card phone banking number pc richards credit card phone number 0 interest credit card tesco online access my credit card ashley stewart best credit card purchase rates apply canadian tire credit card online citizens bank small business credit card fake credit card number and security code make payment my orchard credit card nba platinum credit card amex platinum cashback credit card review sbi card credit cards faces pages credit card otp login fast way to reduce credit card debt citi credit card payment mailing address credit card transfer balance 0 apr change credit card pin hsbc ipad credit card reader app sams credit card at walmart credit card cvc2 number miles and more credit card travel insurance indusind bank american express costco credit card canada compare credit cards offers in india accepting credit card payments at craft fairs usaa college start credit card application discover credit card signup bonus small business credit cards cash back test visa credit card number cvv2 can use debit card credit online virgin credit card application time onepass plus credit card review how to pay off a 10000 credit card debt best 0 balance transfer credit cards 12 months uk passport renewal credit card form square credit card reader app pay my gape credit card bill online pay my lloyds tsb credit card online arco gas no credit card bitcoin credit card uk are credit-card balances considered money why or why not wells fargo credit card picture why was my credit card denied in paypal hdfc credit card terms and conditions can i upgrade my capital one credit card fast response credit card applications o balance transfer credit cards canada apply online for wells fargo credit card credit card debt lawyer california best credit card rewards program 2011 citi visa credit card customer service citi credit card application status phone number need card now have bad credit score high limit credit cards for excellent credit php credit card format pc richards credit card ge jp morgan select credit card review aspca credit card hdfc bank credit card credit card best rewards program 2011 ann taylor credit card site credit card surcharges legal uk credit card starting with 36 valid credit card visa number wallets prevent credit card scanning how to get 1 month free trial netflix without credit card hsbc premier credit card rewards program need credit card bad credit home depot credit card contact number fake credit card websites will magnetic money clip ruin credit card 1st financial bank credit card log in can your wages be garnished for credit card debt in georgia check credit card balance online hdfc marriott reward business credit card manhattan credit card singapore standard chartered do you need a credit card to rent a car 2011 best credit card for travel points mophie marketplace credit card reader for intuit gopayment review royal bank scotland credit card application form catos credit card how can i pay my rent with a credit card create hdfc credit card online account travel reward credit cards canada comparison what credit cards help build credit axis bank credit card statement get dates citi bank american airlines credit card providian bank credit card bad credit best way use your credit card build credit gulf oil credit card visa credit cards poor credit allied bank mastercard credit card application credit card processing company comparisons my credit card access case mate id & credit card holder for iphone 3g 3gs wells fargo value city furniture credit card credit card debt consolidation loans unsecured intuit automatic credit card billing authorization form credit card amazon bank america barclays credit card india online payment visa credit card covers car insurance cash advance from credit card without pin phone insurance through credit card ana credit card visa best balance transfer credit cards for average credit credit card cash bonuses legalsounds not accepting credit cards takes goodyear credit cards zero percent balance transfer credit cards 2011 virgin black card credit card review capitol one credit card sign in credit card agencies mumbai how to lower credit card interest rate bank of america need fake valid credit card number stolen bank of america credit card debt forgiveness first direct credit card interest rate sears credit card sign on jcpenney rewards credit card customer service fake working credit card numbers itunes does us bank have secured credit cards how is purchase interest on credit cards calculated can i go over my capital one credit card limit southwest airlines rapid rewards credit card 50000 best credit card programs best credit cards small business rewards need abn amro credit card online payment can you use credit card money order credit card programs credit unions what are balance transfers on a credit card wachovia platinum credit card payment how do i stop getting credit card offers from chase credit card best rewards 2012 visa rechargeable credit card hilton hhonors amex surpass credit card how to change credit card information on playstation store pink credit card wallet best buy credit card annual fee gap credit card payment login netflix foreign credit card should pay off credit card student loan first how much to offer credit card companies to settle debt best way to pay off credit cards to improve credit score credit card protection plan hsbc credit card checksum msdn credit card issuers ranking prepaid credit card for kids canada credit card for college students american express ing credit card canada credit card cash back bonus good credit card first time user credit card for bad debt uk apply for credit card with bad credit hsbc sears credit card online best credits cards for college students free flight credit cards activate us bank visa credit card home depot business credit card rewards 0 apr credit cards for 24 months first data wireless credit card reader napa auto care easy pay credit card lloyds air miles credit card review best buy online multiple credit cards boa pay online credit cards best credit cards apply bad credit names of credit cards brand name where can i pay my target credit card how credit card cloning works nordstrom credit cards login hsbc credit card rewards philippines ivy tech credit card fifth third credit card customer service phone number credit card type free credit card debt consolidation best prepaid credit cards bj;s barclay credit card log in no credit card shopping online best credit card to use on cruise ships hdfc platinum credit card reward points value credit cards for starters virgin money credit cards uk a free credit card number that works credit cards bad credit no fees deposit credit card law in uae uob credit cards singapore promotions pay amazon credit card payment can i pay lowes credit card with gift card best credit cards for balance transfer my first premier credit card consolidate credit cards low interest leather iphone 4 case credit cards sears credit card payment locations best credit card for medical bills cvc credit card number chase credit card awards chase bank lostpedia credit card phone number how to get rid of high interest credit card debt starwood preferred guest credit card promotion credit cards for military veterans toys r us store credit card credit card advertising compliance shell credit cards welcome to shell credit cards..url how do i accept credit cards on my iphone credit card debt written off on death chase united credit card first credit cards invented pay tire choice credit card statefarm credit card reviews citibank credit card toll free number india aventium credit card customer service number first premier bank credit cards for bad credit star credit card printer how to switch from bank account to credit card on paypal polo ralph lauren wallet burnished credit card case with money clip application credit card bank america mbna american express credit card uk quick trip credit card pay online student credit cards for bad or no credit students chase amazon credit card application status credit card no foreign transaction fee uk ge farm fleet credit card can i pay rent with credit card hsbc costco credit card online credit card for people with no credit history phone number activate wells fargo credit card rechargeable credit cards uk pay my chase toys r us credit card apply online business credit card paypal credit cards credit card counseling services dallas credit card icons set virtual terminal credit card processing free credit card rewards no annual fee credit card college student india barclays online credit card application costco canada credit cards accepted best cash back credit card canada 2010 credit card transaction settlement process what is credit card skimming can;t find security code on credit card mtvu credit card points good grades best no fee credit card canada 2011 virgin credit card points shop credit card number with cvv2 generator balance on credit cards credit score manage my chase credit card online time get refund credit card ge money universal credit card cost credit cards merchant obama credit card donor scandal
Home Pete Toms LWIB: Politics of Stadium Development, MLB Network, Tidbits

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 679 guests online

Atom RSS

LWIB: Politics of Stadium Development, MLB Network, Tidbits PDF Print E-mail
User Rating: / 0
PoorBest 
Pete Toms Article Archive
Written by Pete Toms   
Tuesday, 07 December 2010 13:40

Last Week in Bizball by Pete Toms

This week in “Last Week in BizBall”, a slew of reports on the politics of baseball stadium developments, MLB Network hopes to increase distribution, plus tidbits.

UPDATE ON THE POLITICS OF STADIUM DEVELOPMENT

Over the decades, citizens and media have become increasingly cynical about the merits of spending public dollars on constructing stadia for professional sports franchises. Professional baseball (MLB, MiLB and independent baseball) typically fares better than the other of the “big 4” when requesting public funds due to their greater number of games played. (ie. The ostensible economic spin offs are greater) More recently, public funding for stadia is more difficult to acquire, due to a combination of bust municipalities and a general awareness that many of these projects have failed to live up to their promises. In response, local stadium advocates (franchise owners, construction industry, construction unions, politicians) have become more sophisticated in their approach to securing public dollars. Local stadium authorities issue tax-exempt bonds to raise financing for construction, in turn the tenant (team) makes Payments in Lieu of Taxes back to the authority (aka PILOTS). Stadiums/arenas are constructed in “entertainment districts” where future tax revenues are used to pay off the construction bill (aka Tax Increment Financing or TIF). Team owners are awarded “development rights” in the entertainment district surrounding the stadium/arena. Some combination of county and/or state amusement taxes, plus taxes on car rentals and hotel rooms are used to pay off construction. Politicians often justify such public expenditures as key to the success of “stadium centred” urban renewal projects in blighted neighbourhoods.

LWIB saw a spate of reports from a handful of different communities on the state of past, present and future ballpark developments. The most high profile was the public spat between anti-stadium advocates in St. Louis and the Cardinals over monies that may, or may not, be owed the local government. David Hunn of the St. Louis Post-Dispatch reported:

Eight years ago, as the St. Louis Cardinals aimed to build a new baseball stadium, team owners signed an agreement with the city worth millions of dollars a year in tax breaks.

In exchange, the team agreed to a series of annual perks for the region's residents — 100,000 free tickets, 486,000 seats for under $12 and $100,000 in donations to recreation for disadvantaged youths.

The Cardinals also agreed to give the city a cut of profits made if any portion of the team was sold.

Then, last year, owners sold a sizeable chunk of the Cardinals — more than 13 percent. Now, a group of anti-public-stadium advocates is alleging that the team owes the city hundreds of thousands of dollars.

The big news to me was that Bill DeWitt III. had sold some of his stake in the Cards, I’d like to know what it fetched. As for the dispute over whether the Cards owe the city any of the proceeds from the sale, you can read yourself, but it seems to boil down to accounting. See Brian Borawski, The Sports Economist and Neil deMause for more.

There was plenty of news LWIB around future ballpark developments in MLB. Much of the aforementioned scepticism around the benefits of public investment in stadia to house pro sports has resulted from decades of criticism from “The Sports Economists”. Almost unanimously, this group of academics has long and consistently argued against this sort of public investment. However, LWIB one of their brethren, Stephen J.K. Walters, argued in the Chicago Tribune that the Cubs proposal to use future growth in amusement taxes generated at a renovated Wrigley Field to pay for said renovation, is a good plan. (HT Ed Sherman) Later in the week, the Cubs proposal died in the Illinois General Assembly. Not to worry, the Assembly reconvenes in January and already there is talk in the media of a Wrigley entertainment district and TIF and…you know the drill. Back to St. Louis, LWIB Cardinals President Bill DeWitt III announced that construction of the Cardinals long delayed “Ballpark Village” development adjacent to Busch Stadium might soon begin. Mr. DeWitt and his development partner Cordish Co. have begun the process of applying for tax breaks from the local government before the development proceeds. The Cards Ballpark Village has been delayed for years due to the downward economy. Similar planned projects in Arlington and Fremont CA. have been abandoned. Conversely, the San Diego Padres leveraging of Petco Park to launch a mixed use development in the area around the stadium was a huge success. The politics of ballpark developments also include Spring Training. Glendale AZ invested $200 million in the Camelback Ranch Spring Training home of the White Sox and Dodgers. LWIB, The Arizona Republic reported that a proposed mixed use development associated with Camelback Ranch has cratered. (HT Ballpark Digest) Glendale had planned that future tax revenues from the, now failed, development would help pay off their investment in the baseball facility.

Lastly, there was news LWIB concerning a potential new MLB stadium. San Jose Mayor Chuck Reed announced he is backing away from a plan to have a referendum in March on a stadium proposal for the A’s. Evidently the plan is still to hold a referendum, but it won’t be until at least April, probably longer. San Jose must wait for the A’s relocation politics within MLB to play out before going any further.

SELECT READ MORE TO SEE DETAILS ON MLB NETWORK, AND THIS WEEK'S TIDBITS


MLB NETWORK

In January 09, MLB Network launched in approximately 50 million homes, a record number for a new channel. Presently, MLB Network is in approximately 56 million homes. By comparison, ESPN is in about 100 million, Versus 75 million and NFL Network 57 million. LWIB, MLBN CEO Tony Petitti told Reuters that he hopes to cut deals with Dish Network and AT&T which will result in his channel increasing its distribution to 70 million homes for next season. Petitti also says that ad sales for his channel will be up more than 20 percent this year. As well, Mr. Petitti declares that MLB is soon to recoup their original investment in launching the channel. "We'll have the ability to make distributions in 2011," Petitti said. "That's really up to the commissioner's office as to what form those take and when and what they want to do with that money." In a separate Reuters report Mr. Petitti acknowledges the possibility of …adding exclusive content, including games…to the channel after MLB’s current broadcast deals expire following the 13 season. The first Reuters report also tells us that according to MLBAM head honcho Bob Bowman, BAM is growing at 15 to 20% annually. As for the long rumoured IPO of MLBAM, Mr. Bowman said there are no plans for that. Recently I commented that according to the “leaked financial docs”, clubs were receiving an annual dividend from BAM of $2 million ea., a relatively small amount in a $7 billion a year industry. Said Mr. Bowman to Reuters, "As to the right dividend policy ... there's a real push and pull as to how much," he said. "You can probably remit higher dividends, but you're investing in your business and creating an asset." (HT Fang’s Bites)

TIDBITS

  • Details from the Texas Ranges bankruptcy continue to emerge. LWIB, Barry Shlachter reported on the millions of dollars in lawyers fees that have been requested from the presiding judge. At the end of the report we learn that, only recently, did the eventual owners of the franchise abandon a claim of upwards of $100 million from the former owners.

Earlier in the week, Greenberg-Ryan's Ranger Baseball Express agreed to drop its own claim for upward of $100 million for alleged breach of contract against the former ownership, according to attorneys involved in the case.

Two attorneys following the case noted that the claim was dropped before Greenberg was to be deposed.

AND

Before the World Series, Express surprised other parties in the case, and apparently the court itself, by demanding back anything above the $495 million it had agreed to pay in a sales agreement that was part of the May 24 bankruptcy restructuring plan. The plan ultimately was replaced by the Aug. 4 auction.

Had that request succeeded, Greenberg-Ryan could have ended up paying much less than Cuban and Crane's bid for the team. But that in turn could have sparked legal action from Cuban and Crane. (Note, the bankruptcy auction yielded a sale price of $593 million)

  • At Forbes, LWIB Wayne McDonnell argued strongly in favour of “floating realignment”.
  • The annual Rule 5 draft will happen this week. Star players Josh Hamilton, Jose Bautista and Joakim Soria are all former Rule 5 picks. But the Rule 5 draft doesn’t yield the same quality of talent that it did before MLB changed the rules prior to the 06 draft. Read Matt Eddy at Baseball America to understand why. And to understand the rules governing the Rule 5 draft, read Darren Heitner.
  • Reuters reported that the New York Times continues to search for a buyer for its 16.6% stake in New England Sports Ventures, aka the Boston Red Sox. (HT TicketNews.com)
  • Former MLB commissioner Fay Vincent argued in the Wall Street Journal that star free agent players should negotiate for a stake in the team they sign with. It’s all about taxes. And before you say it’s against the rules, Mr. Vincent tells us, Under the current labor agreement in baseball, there is nothing that prohibits a player from owning a part of his team, but the ownership interest must be sold if the player leaves that team for another.” (HT Don Walker)

Pete Toms is senior writer for the Business of Sports Network, most notably, The Biz of Baseball. He looks forward to your comments and can be contacted through The Biz of Baseball.

Follow The Biz of Baseball on Twitter Twitter

FacebookFollow the Business of Sports Network on Facebook

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?