Bloomberg: “Sacramento Is Fresh Victim of Bad Stadium Deals”

Call me a skeptic; I am relieved the arena deal fell through...for many reasons detailed at RanSACked Media and the Apr 16 Bloomberg article:

• Overblown estimates
• " It’s about the foolishness of city officials who pin urban renewal hopes and taxpayer dollars on sports complexes despite the public’s declining willingness to pony up the cash…"
• “…These deals are not about economic growth, but civic pride... Second-tier cities believe that professional sports put them on the map, although all they do is provide some unexceptional entertainment and enrich team owners, who cleverly manipulate the local inferiority complex to gain arena subsidies…”

One article I read this week says, however, the "process for leasing out the "public" parking facilities is moving forward regardless." Yuck.

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