Back when New Yankee Stadium was built, the team demanded that the city build parking garages to house 9,000 cars. Never mind that the ballpark is right next to a train station.
But the city agreed, issuing tax-exempt bonds to cover the costs plus subsidizing the garages to the tune of $100 million on top of that. Now those bonds are likely going into default, reports the New York Daily News:
Bronx Parking Development LLC failed to make a $6.9 million payment due April 1 on more than $237 million in tax-exempt bonds arranged by the Bloomberg administration back in 2007.
The group, which is not connected to the Yankees, thus fell into one of the biggest defaults of a New York City-sponsored bond in decades.
Sounds like this will lead to a city bailout or a bankruptcy, leaving the bondholders and/or taxpayers holding the bag.
Just another fabulous example of what happens when the government does favors for sports teams and all common sense is thrown out the window. And when the recipients of those funds try to gouge the hell out of customers, charging them some $35 to park, which rendered the garages half empty most of the time.
How hard is it to tell a billion dollar business like the Yankees to build their own parking garages if they want them so bad?
According to Jorge Castillo of the Washington Post, Nationals infielder Danny Espinosa declined to attend the team’s annual Winterfest because of his dissatisfaction with management following their trade for outfielder Adam Eaton.
A source told Castillo that Espinosa’s unhappiness stemmed from a belief that the acquisition would jeopardize his starting role in 2017. With Eaton in center field, Trea Turner will likely return to his post at shortstop, leaving Espinosa out in the cold — or, as the case may be, on the bench. The move shouldn’t come as a big surprise to Espinosa, however, as Nationals’ GM Mike Rizzo spoke to the possibility of trading the infielder or reassigning him to a utility role back in early November.
Offensively, the 29-year-old had a down year in 2016, slashing just .209/.306/.378 with 24 home runs in 601 PA. Defensively, he still profiles among the top shortstops in the National League, with eight DRS (Defensive Runs Saved) and 8.3 Def (Defensive Runs Above Average) in his seventh year with the club.
Espinosa will reach free agency after the 2017 season.
The Red Sox might be trying to move the wrong pitcher, according to the Boston Globe’s Nick Cafardo. Cafardo revealed that while the Sox have been trying to market right-hander Clay Buchholz, more teams would be interested in trades involving southpaw Drew Pomeranz.
The club appears reluctant to deal Pomeranz, especially because his price tag comes in at a cool $4.7 million to Buchholz’s $13.5 million in 2017. Those who have already expressed interest in the veteran hurlers, including the Twins, Mariners and Royals, also seem put off by Buchholz’s salary requirements as he enters his 32nd year.
Health could be another factor preventing teams from jumping to make trade offers, as Cafardo quotes an AL executive who believes the “medicals on both Pomeranz and Buchholz probably aren’t that great.” Neither pitcher suffered any major injuries during the 2016 season, though Pomeranz missed just over a week of play due to forearm soreness.
Pomeranz outperformed his fellow starter in 2016, pitching to a 3.32 ERA and career-best 9.8 K/9 through 170 2/3 innings with the Padres and Red Sox. He got off to an exceptionally strong start in San Diego, where his ERA dropped to 2.47 through the first half of the year before the Padres dealt him to Boston for minor league right-hander Anderson Espinoza. Buchholz, on the other hand, struggled with a 4.78 ERA and saw a decline in both his BB/9 and K/9 rates as he worked out a career-low 1.69 K/BB through 139 1/3 innings with the Sox.