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user-inactivated  ·  2498 days ago  ·  link  ·    ·  parent  ·  post: Senators aim to stop use of municipal funds to finance stadiums

In Missouri we had a law written that said all the stadium finance bills have to be put to a vote. And then the city of St. Louis said that their stadium finance bill didn't count, and decided not to have a vote. They got sued, but by then the Rams had left. Pretty obvious around here at the time that mortgaging schools and police to pay for stadiums for billionaires was not a popular move.

Same thing just happened with the scocer statidum that MLS was going to require to move in an MLS franchise expansion. A dedicated core of soccer fans found it within their hearts to spend other peole's money helping out poor little billionaires who just couldn't make the math work despite this being an overwhelming opportunity. That also failed hard with the people and is not giong forward.

That's the crux. Cities are told that the billionaires just can't make the finances work. If I went into a bank and said that my business plan doesn't work unless I get a huge amount of money from someone else, they would tell me that something in the business plan had to change. But there's no problem when team owners won't make the investment themselves.