20 February 2008

Stepping up in Florida

In a recent St. Pete Times update on the Rays' downtown ballpark proposal, I noticed the following passage:

The money would come from a private team loan, Rays senior vice president of development Michael Kalt said. The Rays previously had planned to pay the city $10-million a year in rent payments to cover a third of the $450-million stadium cost.

Changes in Major League Baseball revenue and accounting rules allowed the Rays to reconsider how they paid their part of ballpark construction.

This caught me off guard. I'm trying to find out more about this. UPDATE: I got a clarification from the writer, Aaron Sharockman. MLB now allows teams to pay teams to put in their contribution against revenue sharing upfront. My take on this is presumably, a team could choose to amortize this over several years so that it hits as part of the "stadium operating expenses" revenue sharing deduction.

On the other side of the swamp,
details are trickling out about the Marlins' ballpark financing plan. The Sun-Sentinel has come out in favor of the plan, its argument being, "If it doesn't get done with this deal it won't get done at all." Now that's a sales pitch for ya.