Forget how pretty the new Yankee Stadium is going to look. Why, precisely, are the taxpayers of the City and State of New York being forced to so richly subsidize the most profitable operation in Major League Baseball, and possibly the most profitable operation in professional sports, at a time when the state as a whole is in economic downturn and its residents and businesses greatly overtaxed?
The Yankees will trumpet the claim that the city and state are only contributing $200 million towards infrastructure, which amounts to a meager 20% of the overall cost. But, they're getting a tremendous amount of tax breaks, which in the long run will likely more than compensate them for the cost of building the stadium. It's one thing for a small market team to ask for a publicly-funded stadium on the grounds that they need the revenue to compete (I think that argument's bull**** anyway, but never mind that), but for the Yankees to ask for, and get, public funding is patently absurd. As a New York taxpayer, I'm absolutely furious over this. Thank God the Legislature had the good sense to put the kibosh on that $2 billion stadium in Manhattan for the Jets, which would have been built almost entirely with public money.