on 3/15/02 2:07 PM, deanc at [EMAIL PROTECTED] wrote: The Twins pay to the State upfront $165 Million, which the state then > invests at 8.5%. The Twins then pay the state $10 Mil a year for the next > 15 or so years to pay off remaining bonds. The 2% spread in debt cost and > investments cover the last 15 years of bond costs.
If this was any other enterprise, I'd say it makes sense, but this is major league baseball and Carl Pohlad has absolutely no incentive to come up with $165 million, when Bud Selig will give him $100 mil or so next year for simply shutting the franchise down. And then there's the matter of long-term debt costs. Unless baseball's economics change drastically (and there's no real incentive for large-market owners or the player's union to endorse such changes) the Twins will be dead in 15 years--new stadium notwithstanding. Pardon my cynicism, but major league baseball is in the middle stages of complete collapse, and to pretend everything's going to be better if only we build a stadium is pretty much delusional. Craig Cox Hiawatha _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
