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?
With last Wednesday’s start against the Yankees, Mariners hurler Hisashi Iwakuma pushed his 2016 innings total up to 2016. That clears the 162-inning hurdle for his 2017 option to vest at $14 million. However, as Steve Adams of MLB Trade Rumors reports, the language in Iwakuma’s contract also stipulates that the right-hander finish the season without suffering a specific injury.
Iwakuma, 35, was in agreement with the Dodgers on a three-year contract back in December but failed the physical, which nullified the deal. He ended up signing with the Mariners on a one-year, $12 million deal with a full no-trade clause and club options for 2017 and ’18 that vest at specific inning thresholds (162 each or 324 for both seasons).
This season, Iwakuma has stayed healthy, making 26 starts to the tune of a 14-9 record, a 3.81 ERA and a 118/36 K/BB ratio in 163 innings.
Marlins outfielder Ichiro Suzuki deposited a single to left-center field in the fourth inning of Monday night’s game against the Mets, then added a double to center field in the eighth. Those mark hits No. 3,010 and 3,011 for Suzuki in his major league career, tying and then moving past Wade Boggs for sole possession of 27th on baseball’s all-time hits list.
Suzuki would come around to score on a double by Xavier Scruggs to break a scoreless tie in the eighth.
Here’s the video of Ichiro’s first hit.
By the end of the season, Suzuki will have presumably moved ahead of Rafael Palmeiro (26th; 3,020) and Lou Brock (25th; 3,023).
Suzuki was 2-for-4 after the double. With baseball’s fifth month nearly complete, the 42-year-old is currently batting .298/.371/.373.