The parking garages at Yankee Stadium are a financial black hole


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?

Justin Turner suffers broken wrist after being hit by a pitch

Jamie Squire/Getty Images

Dodgers third baseman Justin Turner left Monday’s Cactus League game against the Athletics after he was hit by a pitch. He went for X-rays, revealing that he suffered a broken wrist, Bill Shaikin of the Los Angeles Times reports. Shaikin adds that Turner is unlikely to return before May, noting that Braves first baseman Freddie Freeman missed six weeks with a similar injury last year and Astros outfielder George Springer missed nine weeks in 2015.

Needless to say, this is a huge loss for the Dodgers. Last year, Turner hit .322/.415/.530 with 21 home runs and 71 RBI in 543 plate appearances, helping the Dodgers reach the World Series. He made the All-Star team for the first time in his career and finished eighth in NL MVP balloting.

Thankfully, the Dodgers have some versatile players on the roster. Logan Forsythe could move from second base to third, giving Chase Utley more playing time at second. Enrique Hernandez could man the hot corner as well. Chris Taylor has played some third base, or he could shift to second base in Forsythe’s stead. The club should shed some light on how it plans to move forward following Turner’s injury.