Whenever the subject of publicly-financed ballparks and stadiums comes up someone always makes the distinction that so-and-so’s ballpark wasn’t paid for with taxpayer dollars but, rather, was paid for with municipal bonds.
Muni bonds, however, are not free. As Bloomberg notes, just because the money doesn’t come from a city or state’s general fund doesn’t mean taxpayers aren’t footing the bill. They are, because the interest paid to investors on such bonds are not taxable. The result:
Tax exemptions on interest paid by muni bonds that were issued for sports structures cost the U.S. Treasury $146 million a year, based on data compiled by Bloomberg on 2,700 securities. Over the life of the $17 billion of exempt debt issued to build stadiums since 1986, the last of which matures in 2047, taxpayer subsidies to bondholders will total $4 billion, the data show.
Stadiums which directly enrich millionaire and billionaire sports owners and their allied businesses.
Former Orioles outfielder Nolan Reimold has retired, Michael Pfaff — president of the Long Island Ducks — announced on Twitter on Sunday.
Reimold, 33, was hitting .238/.359/.397 in 78 plate appearances with the Ducks. He was coming off of a disappointing 2016 campaign as a reserve outfielder with the O’s, finishing with a .664 OPS.
Over parts of eight seasons in the majors, Reimold hit .246/.323/.422 with 56 home runs and 174 RBI.
Angels outfielder Mike Trout sprained his left thumb and had to leave Sunday’s game against the Marlins. He underwent an X-ray, which revealed no fracture, but he is set to have an MRI on Monday for further evaluation, Jeff Fletcher of the Orange County Register reports.
Trout went 0-for-2 with a walk before exiting. The reigning AL MVP is batting .337/.461/.742 with 16 home runs, 36 RBI, 36 runs scored, and 10 stolen bases in 206 plate appearances this season. Needless to say, losing him for any amount of time would be a devastating loss for the Angels, who are 26-27 and tied for second place in the AL West.