So what’s new?
### http://www.nytimes.com September 7, 2010
Sports
As Stadiums Vanish, Their Debt Lives On
By Ken Belson
It’s the gift that keeps on taking. The old Giants Stadium, demolished to make way for New Meadowlands Stadium, still carries about $110 million in debt, or nearly $13 for every New Jersey resident, even though it is now a parking lot.
New Jerseyans are hardly alone in paying for stadiums that no longer exist. Residents of Seattle’s King County owe more than $80 million for the Kingdome, which was razed in 2000. The story has been similar in Indianapolis and Philadelphia. In Houston, Kansas City, Mo., Memphis and Pittsburgh, residents are paying for stadiums and arenas that were abandoned by the teams they were built for.
How municipalities acquire so much debt on buildings that have been torn down or are underused illustrates the excesses of publicly financed stadiums and the almost mystical sway professional sports teams have over politicians, voters and fans.
-Jo Craven McGinty and Griff Palmer contributed reporting.
Post by Elizabeth Kerr
Thanks to Janet Gebbie on Facebook’s The DCC has lost the plot. for the reference to this article.
What if? Dunedin... 