Gordon Gekko must be right "Greed is Good" at least for Major League Baseball

Image from The PBS Newshour.

Today's Post also has an article about the "revised" "better" lease agreement with baseball over the baseball stadium for the Washington Nationals, "Stadium Pact To Be Revised For Financing:
Fiscal Chief Stressed Effect on Bond Ratings." From the article:

Meanwhile, the Anacostia Waterfront Corp., created by the mayor to oversee development of the Anacostia riverfront near the stadium site, has pledged to cover all potential cost overruns related to the city's purchase of 14 acres for the stadium. The corporation would cover such costs by selling development rights on the south side of the stadium site. Under the lease agreement, the city would receive 57.5 percent of the profits, and Major League Baseball would receive 42.5 percent.

But council member Marion Barry (D-Ward 8) said he believes that the city should receive all the profits because the District is buying the land and building the stadium. "They still have a distance to go," Barry said of Williams administration officials. "There are seven or eight of us who are not comfortable to approve the lease as they described it."
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I have to say that I agree with Councilmember Barry. They want a free baseball stadium, and givebacks to compensate baseball for the little bit of money they put into it, and now they want 42.5 percent of the development rights on a stadium site that they don't even have to pay for, except for a middling amount of annual rent?

Image from DCist.



Can you say "Neville Chamberlain?"

Index Keywords: baseball