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[Seattle Times] 15 years after moving Sonics, now it’s the Thunder asking for publicly funded arena
(www.seattletimes.com)
this post was submitted on 20 Oct 2023
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Only way taxpayers should be paying for a stadium is if it belongs to THEM. Profits from everything gets put back into the community not into corporate pocketbooks. Otherwise, billionaires can pay for their own playground.
Well, lucky for you, the city does own the arena.
Are you up for paying your share of $5B in taxes for your city to buy a team?
Totally! Probably wouldn’t even have to raise taxes if some was redirected from police budget towards infrastructure (that includes stuff like stadiums!)
Ok, so you clearly don't know how much stuff costs. Using Seattle as the example, the city budget for this year is listed as $7.4B. The entire police budget is $370M. There's a reason it's rich people who buy sports teams; they have the money.
You think its all paid over one year? You clearly don’t understand how funding and loans work. Also, NBA arenas are NOT 5billion i hate to tell ya. They aren’t the size of football stadiums.
Using seattle as the example, 50mil a year from that police budget would out a sizable dent into the yearly cost of the stadium loan.
And that's how Seattle was lost.
Or it should just be policy and we should stop giving handouts to billionaires.
I agree. But that's how you end up without a team, losing a few thousand jobs and maybe a hundred businesses.
If city owns the stadium, they can still utilize it. Concerts, events, future sports teams etc can be scheduled and profited from. If it is policy not to pay for stadiums, or that the city controls the stadium if they do, billionaires won’t be able to use that as a threat.
If that’s the price the that’s the price.