Another day, another subsidy demand by New York’s sports teams:
The blogosphere is hopping with news that the Yankees and Mets are looking to get additional tax-free bonds for their new stadiums. Read carefully, though, and you’ll notice they aren’t actually new: These are the same additional Yankees bonds that Assemblymember Richard Brodsky blew the whistle on in June (word that the Mets would be seeking more money as well broke a few weeks later).
All that happened today is that the city leaked how much the teams are asking for: $259 million in tax-free loans for the New York Yankees, $83 million for the Mets. (The Yanks are also seeking an extra $111 million in taxable bonds.) In the Bronx, the added cash will go to pay for such goodies as a giant scoreboard and snazzier concessions facilities (we’re thinking gold-plated beer taps) while the Mets haven’t specified what they’ll do with their money… [read more]