Friday, October 28, 2011

@WhiteSox getting free restaurant paid for by Illinois taxpayers - sports economics sickens me

U.S. Cellular Field (then New Comiskey Park) opened 20 years ago last April, but it's been the gift that keeps on giving for Chicago White Sox owner Jerry Reinsdorf. First was getting the stadium itself for $167 million in Illinois tax dollars, following Reinsdorf's "a savvy negotiator creates leverage" jaunt to Tampa Bay. Then there was the $41 million renovation in 2004 that was paid for by the state handing over naming rights to the stadium to the team, which sold them for $68 million.

And now there's this:

The Illinois Sports Facilities Authority, the government agency that built and owns The Cell, paid $3.2 million for construction of the [new Bacardi at the Park] restaurant [across the street] plus just about everything inside the place, from walk-in refrigerators to bar stools, the Tribune and WGN-TV found in a joint investigation.
Another $3.7 million from the agency went for infrastructure upgrades for water and sewers at the Gate 5 plaza that made the restaurant possible.
A 2010 agreement between the Sox, who selected Gibsons Restaurant Group to run the business, and the agency shows that at the project's completion, the team was exempt from owing the agency any money. That arrangement contrasts with the management agreement for operating the stadium, which stipulates the team pay rent and make payments based on attendance.


rest at http://www.fieldofschemes.com/news/archives/2011/10/4712_white_sox_getti.html

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