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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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.  [/quote]

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.  [/quote]

I'm not necessarily disagreeing with you -- but NFL stadiums also hold music concerts, NCAA football games, NCAA basketball playoffs (e.g. Big East conference, March Madness) ... maybe even a Super Bowl at some point. To say it's only 10 games a year, period, is highly misleading.[/quote]

Again, those non-NFL events will be far and few.  Not highly misleading.  1-2 concerts a year at most, assuming any.  NCAA football game, maybe Army-Navy every few years.  Big East tourny will not draw 100,000 and will certainly play in Verizon over a NFL stadium. NCAA playoff game, again every few years maybe.  Super Bowl, every 10-15 years.  Say again, 8-10 games a year, plus maybe a few events a year.  There is zero rationale here.   Moreover, the added feature here is that Snyder is actively disliked by so many that few of these organizations have any interest in working with him.   
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