Virginia is for Suckers: VA leg looking to spend $1B to lure Washington Commanders

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We need to slam the door on this boneheaded idea.

Disney America was stopped. This should be stopped, too.

Traffic would be even more of a nightmare than it is now. That area was considered for the Nationals minor league baseball team, who vetoed it and ended up near Fredericksburg. No way would it be appropriate for a major league football franchise.

It’s absolutely insane. That stadium location would require billions in upgrades to the interstate alone.

Not billions. Games are mostly on weekends. They can access the express lanes (would require some money for sure).

Oh yeah no one uses 95 in northern Virginia on weekends.

Hahaha. As soon as I heard the news, I thought, well that's it for going south on 95 on the weekends. Even worse for games on weeknights.

It's not like I95 is a major north south route or anything. /s

It would make more sense to put it in Richmond and rename the team.

I saw something that rated that stretch of 95 to Fredericksburg as one of the most congested sections of highway in America. It’s also a nightmare on Sunday’s.

[Anonymous]

Anonymous wrote:$1B giveaway from Republicans to a billionaire. You can’t make this sh#t up.

Still mad about CRT you dumb dumbs?

Well, they just delayed the vote.

So, there!

[Anonymous]

Anonymous wrote:

Anonymous wrote:$1B giveaway from Republicans to a billionaire. You can’t make this sh#t up.

Still mad about CRT you dumb dumbs?

Well, they just delayed the vote.

So, there!

Chap Peterson steps up again.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We need to slam the door on this boneheaded idea.

Disney America was stopped. This should be stopped, too.

Traffic would be even more of a nightmare than it is now. That area was considered for the Nationals minor league baseball team, who vetoed it and ended up near Fredericksburg. No way would it be appropriate for a major league football franchise.

It’s absolutely insane. That stadium location would require billions in upgrades to the interstate alone.

Not billions. Games are mostly on weekends. They can access the express lanes (would require some money for sure).

Oh yeah no one uses 95 in northern Virginia on weekends.

Hahaha. As soon as I heard the news, I thought, well that's it for going south on 95 on the weekends. Even worse for games on weeknights.

It's not like I95 is a major north south route or anything. /s

It would make more sense to put it in Richmond and rename the team.

I saw something that rated that stretch of 95 to Fredericksburg as one of the most congested sections of highway in America. It’s also a nightmare on Sunday’s.

Not surprised. Not sure what these people are smoking, or if they just go everywhere in private planes and helicopters.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$1B giveaway from Republicans to a billionaire. You can’t make this sh#t up.

Still mad about CRT you dumb dumbs?

Well, they just delayed the vote.

So, there!

That’s actually a bad sign if you are against it because it would’ve been voted down. Now the lobbying campaign begins.

[Anonymous]

Like I said months ago … Skins/WFT/Commies were never going to and will never end up in VA.

[Anonymous]

Anonymous wrote:Like I said months ago … Skins/WFT/Commies were never going to and will never end up in VA.

They will eventually end up in VA. Just will require more lobbying/donations. The transaction cost went up.

Lots of missteps by the team so far and the Del Rio comments don’t help. But the VA Leg getting increasingly red will help. And Fairfax/Loudon locations will need to be on the table to make it viable.

[Anonymous]

It’s clear VA won’t do business with Snyder and his cronies. If the other NFL owners kick Snyder to the curb, then the VA legislature can revisit its options.

[Anonymous]

Anonymous wrote:It’s clear VA won’t do business with Snyder and his cronies. If the other NFL owners kick Snyder to the curb, then the VA legislature can revisit its options.

They were willing until it was clear that Synder was trying to con them. Obviously a lot of support for a stadium in Fairfax/Loudon and the Commanders told them they were considering a site in Sterling. Once they learned about the Dumfries land purchase, there was no way a self respecting law making would vote to give Synder a billion dollars after being lied to.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s clear VA won’t do business with Snyder and his cronies. If the other NFL owners kick Snyder to the curb, then the VA legislature can revisit its options.

They were willing until it was clear that Synder was trying to con them. Obviously a lot of support for a stadium in Fairfax/Loudon and the Commanders told them they were considering a site in Sterling. Once they learned about the Dumfries land purchase, there was no way a self respecting law making would vote to give Synder a billion dollars after being lied to.

Yes, I would encourage our elected officials to remember these words from business:
"You can’t make a good deal with a bad person.“ — Warren Buffett

It's not about his personal matters and opinions; many politicians and business folks share those.
Snyder has a track record of cheating and grifting those with whom he does business.

My ranking of issues that would cause him to lose the team (vote of the other owners):
1. Crooked bookkeeping that hides significant income from the league (i.e, the other owners).
2. The owners finally become convinced that he is costing them money by running the franchise into the ground. I'm not sure of this one since they haven't done much about other major market, multi-decade disasters like the Bears and Jets.
3. Revelations of harassment by Snyder himself occurring after 2021
4. Everything that we already know (he has weathered it and prevailed)
5. Shooting a guy in the middle of 5th Avenue

Really, #1 is the only one that I see happening.

[Anonymous]

[Anonymous]

Anonymous wrote:

Why not put it next to 395 on west side of Alexandria? Or make them the Shirlington Commanders.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m not sure you understand how public finance works. Why wouldn’t Virginia bid on getting the new stadium? How do you think Maryland got FedEx from DC’s RFK?

That’s how these kind of projects are built, via public finance through bonds in which the future collected taxes (property or sales) are pledged for future debt payment. I worked on the deal for Nats Park (which almost went to Virginia in Pentagon City) and the Ravens stadium for example.

This proposal of how the state would pay for the stadium is completely normal.

Public financing of football stadiums is a complete waste of taxpayer money. $1B for 8-10 games a year, at 100,000 at max attendance. 1 Million in total attendance. Yes, there may be a few extra events a year, but some of those are simply events that would be held elsewhere. In contrast, many MLB teams draw 2M plus in attendance over a year, excluding playoff games. Basketball/hockey arenas draw perhaps 1.5 Million a year. Moreover, NFL teams are richer and can afford to pay their own way.

You can have your own personal opinions re whether an NFL team should pay to build its own stadium but it doesn’t represent your knowledge of public finance. The projected numbers must be there for future revenue stream to get underwriting and bond ratings. I believe this is a form of TIF or sales tax pledge. This is normal for stadiums. DC does TIFs all the time. Maybe read up more on public finance before you make generalized statements that show no understanding. I’m not a football fan whatsoever so I could care less of Virginia gets the stadium but this is exactly how this sort of deal works.

It's the tax-free bonds B.S. that kills it for me. When it comes to sports stadiums for billionaies, the property owners and the bond purchasers need to pay their damn taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m not sure you understand how public finance works. Why wouldn’t Virginia bid on getting the new stadium? How do you think Maryland got FedEx from DC’s RFK?

That’s how these kind of projects are built, via public finance through bonds in which the future collected taxes (property or sales) are pledged for future debt payment. I worked on the deal for Nats Park (which almost went to Virginia in Pentagon City) and the Ravens stadium for example.

This proposal of how the state would pay for the stadium is completely normal.

Public financing of football stadiums is a complete waste of taxpayer money. $1B for 8-10 games a year, at 100,000 at max attendance. 1 Million in total attendance. Yes, there may be a few extra events a year, but some of those are simply events that would be held elsewhere. In contrast, many MLB teams draw 2M plus in attendance over a year, excluding playoff games. Basketball/hockey arenas draw perhaps 1.5 Million a year. Moreover, NFL teams are richer and can afford to pay their own way.

You can have your own personal opinions re whether an NFL team should pay to build its own stadium but it doesn’t represent your knowledge of public finance. The projected numbers must be there for future revenue stream to get underwriting and bond ratings. I believe this is a form of TIF or sales tax pledge. This is normal for stadiums. DC does TIFs all the time. Maybe read up more on public finance before you make generalized statements that show no understanding. I’m not a football fan whatsoever so I could care less of Virginia gets the stadium but this is exactly how this sort of deal works.

It's the tax-free bonds B.S. that kills it for me. When it comes to sports stadiums for billionaies, the property owners and the bond purchasers need to pay their damn taxes.

Agreed. But also, I disagree somewhat with the PP in that there is an economic cost to TIFs even if it is not a direct fiscal outlay.

[Anonymous]

Anonymous wrote:It’s clear VA won’t do business with Snyder and his cronies. If the other NFL owners kick Snyder to the curb, then the VA legislature can revisit its options.

Youngkin still trying!