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Miami Marlins Have Become Baseball's Most Expensive Stadium Disaster
For starters, the [Marlins] stadium’s financing scheme means there will be some $3 billion in interest expenses on the construction loans that will be paid by city and county taxpayers. Worse for taxpayers there is no incentive for Loria to put a good team on the field because the city and county must pay the bondholders regardless of how the team performs. Moreover, a small but quirky part of the bond financing has turned a $91 million loan into a $1.2 billion liability for taxpayers. And to add insult to injury the Marlins are nickel-and-diming taxpayers over capital repair costs.
The Marlins stadium is looking like the worst shellacking taxpayers have ever gotten from a baseball stadium.
-Mike Ozanian, Forbes.com
Another boondoggle in the works
Here’s all you need to know about the Miami Dolphins’ outrageous scheme to publicly finance renovations at Sun Life Stadium:
Donald Trump thinks it’s a great idea.
The team features a quote from the ubiquitous gasbag in a big advertisement touting the football stadium makeover.
[Miami-Dade County] mayor, Carlos Gimenez, has been instructed to commence negotiations with the team. Gimenez, who won office because of his staunch opposition to the Marlins project, has vowed not to let the Dolphins obtain a similar deal.
There’s only one way to make sure that won’t happen: Put it on a ballot.
Then let the Dolphins deploy Trump as their campaign spokesman.
-Carl Hiaasen, in today's Miami Herald