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Should Taxpayers Foot Bill for Private Sports Stadiums?

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  • Description

    FBN's Rich Edson on the government financing new stadiums.

  • Duration 2:15
  • Date

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-- much thank you.

Local governments and taxpayers help foot the bill to fund new stadiums for private sports franchises around the country but with the price tag reaching hundreds of millions of dollars.

Is this money well spent we're talking about this -- -- way of sex and -- municipal bonds and did not rich -- live from the Philly spring training facility in Clearwater Florida hey rich.

Hey what's going on you know this is the first full week of full spring training here Clearwater Florida and the Phillies were kind enough to let this hang out -- warning track for the better part of today.

And this is the West Coast of Florida home to -- more than half -- spring training facilities for Major League Baseball -- but they're full time club.

The Tampa Bay Rays are looking for a new home that's because -- stadium Tropicana Field in Saint Petersburg is widely known as one of the -- if not.

The worst stadium in Major League Baseball so they're looking for a new home around here they're looking for government financing -- governments are discussing it around here.

But there's a bad taste in Florida when it comes to government financing thanks to the Miami marlins' deal the community will pay billions of dollars over the life of the bonds -- SEC was investigating the Miami marlins' deal for awhile.

We talked to the mayor of Tampa this morning and he says this area won't repeat that.

I wanna be as transparent as possible and I want the voters in the taxpayers to know exactly what we have been in this transaction.

Now that was a strange deal.

Common I think should people paid a price support and there may be some who continue to -- -- -- for.

I would never do a deal like that.

I wanna make sure that it's all above board.

That the public knows exactly what is in the stadium.

And that you know when we we get it done.

And these government deals are all about leverage as far as -- Tampa Bay Rays are concerned they've had a tough deal.

And that they have a -- keeping them in -- -- neck current complex until 20/20.

Seven.

Back to you and you are of course are a yankees fan.

I am and their spring training facility is right up the road from here not saying I won't stop five done in the -- Hello the -- how you got that assignment.

You think -- A few select start brits say -- as -- -- there even in -- Florida rich --

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