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Monday, November 24, 2008 |
A's Stadium Plans On Hold?
Neil deMause thinks the economy will stall the A's stadium plans:
Cisco has already announced plans to buy the naming rights to a Fremont stadium, for $4 million a year - that’s enough to pay off at most $60 million in stadium costs, and probably less given today’s extortionate interest rates. That would leave something on the order of $25 million a year to come out of concessions and parking money - new concessions and parking money, if the A’s don’t want to take a loss on what they’re currently bringing in at the newly de-corporatized Oakland Coliseum. Given that stadiums almost never pay their own way with increased revenues, Wolff would almost certainly have to take losses for a few years in hopes that the real-estate bubble could eventually be reinflated, which seems like a risky gambit.Wolff was recently quoted in a San Jose Mercury-News article as saying the current problems won't have any effect on construction schedules:
"The best building I've done has been in times when I shouldn't be building," Wolff said. "We could easily put our plans on hold for two years, but that is the furthest thing from our minds."
Labels: athletics
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