Every time I read some new detail about the financing of Marlins Park I find new reason to be gobsmacked at how thoroughly it screws Miami taxpayers. The latest from Charles Rabin of the Miami Herald:
Building the Miami Marlins’ new stadium may end up costing tens of millions of dollars less than planned. And where would the left-over money go? To a maintenance reserve that would save the Marlins from having to dip into their pockets in the future to maintain and repair the stadium.
As the article notes, the norm in baseball is for teams, even those who play in publicly-funded ballparks, to pay for upgrades and upkeep to the park themselves. The Marlins do too, but rather than dip into their own coffers to pay for future upgrades, they’re getting a windfall worth tens of millions of dollars to cushion the blow. Just incredible.
(thanks to Old Gator for the heads up)