Proceeds from the ads below will be donated to the Bob Wuesthoff scholarship fund.
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."