Meanwhile, the City of New York, with the state's sign-off, is saying, yes, by all means, a billion-dollar company in the entertainment industry which has the ready cash to pay three new employees $423.5 million, yes, that company deserves an additional $260 million in tax-free bonds, on top of the hundreds of millions it's already received, because no new ballpark is complete without granite countertops and fancy toilets.
With our city facing the worst financial crisis since the Depression, and more than 200,000 people expected to lose their jobs by the end of the year, baseball's richest team wants another $260 million in tax-free bonds to help cover a stadium cost overrun of $370 million.
Even worse, the city's Industrial Development Agency, which Mayor Bloomberg controls, is set to approve the bonds next week.
The itemized list of extra stadium costs that city officials released this week is truly astounding.
There's $137 million to pay for concessions at the new stadium - including a swank new Yankees Steakhouse, a Hard Rock Cafe, a museum and a conference center. The Yankees added most of those items to the stadium budget after the city approved the original financing plan.
Other enhancements include:
- $14.2 million for various scoreboard changes.
- $5 million for fancy public- bathroom improvements, including "burnished and glazed block" and "solid surface countertops."
They haven't won a title in a while, but in the world of sports greed, the New York Yankees are second to none. Juan Gonzalez deserves prizes for his reporting on this, by the way.
Anyway, let's review. Go billionaire Yankees! You deserve more of our money, so your luxe-box fans can pee like kings!
Kids, seniors and regular athletes who want to compete in the Empire State Games? You suck.
