According to the article, over the next 20 years, Daikin Park needs $836.5M and Toyota Center needs $635.81M in maintenance.
Have fun tax payers
Some NFL teams pay zero rent for their stadiums because they are either privately owned by the team owner or were publicly funded with the team receiving a long-term lease with little or no rent. For example, SoFi Stadium, home to the Los Angeles Rams, was privately funded by the team owner and thus has a $1 rent, according to a YouTube video.
Here’s a more detailed explanation:
- Privately Funded Stadiums:
If the team owner or a related entity owns the stadium, they don’t have to pay rent to a separate entity. They essentially pay themselves.
- Publicly Funded Stadiums:
In some cases, stadiums are built with public funds, and the team receives a lease agreement with little or no rent as part of the deal.
- Other Costs:
Even with zero or low rent, teams still have to cover other stadium-related costs, such as utilities, maintenance, and salaries for stadium staff.
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Examples:
- SoFi Stadium: The Los Angeles Rams privately built and own SoFi Stadium, resulting in a $1 rent.
- AT&T Stadium: The Dallas Cowboys also privately own AT&T Stadium.
- Allegiant Stadium: The Las Vegas Raiders’ Allegiant Stadium is another example of a privately financed stadium.
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So, what point are you making here? That the Rockets, Texans and Astros should all buy their stadiums?
How much revenue do they bring in…?
For what it’s worth, this eventuality has been an open secret for a while now. I remember seeing presentations from some of the city’s economists some 5-10 years ago discussing the fact that things were heading in this direction, and that at our current budget levels, Houston didn’t have the revenue to keep all of our pro sports teams when they inevitably start sniffing around for new stadia.
That said, $70MM/yr seems awfully steep for maintaining two sports arenas. That’s 1% of the city’s annual budget, and doesn’t include the NFL team. No clue where those costs come from.
If it’s not his point, it should be. That damned Yankee Bud Adams took his ball and went to another city filled with other suckers who were willing to pay for a new sandbox when the voters here said no to his extortion. And then we turned right around and built a new stadium right next to another one.
I always root for the home team, but the owners make it impossible to love them unconditionally.
So, go to the Houston Sports Authority and tell them to make them buy their stadiums and have it all privately owned.
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Bud Adams was a lot of things, but Yankee is not one of them. Unless of course, you consider being born in Oklahoma a Yankee.
Not making point. Did you see one?
I’ll ask again… how much revenue do these facilities and teams create for Houstonians…?
i’m down for that, in the 80s you could go to an astros game for $10, now its $50 for a decent seat. owners go from billionaires to multi billionaires owning a team but they can’t pay for a stadium ? as long as sportsfans can be played for suckers this will go on.
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Mibad. I got him mixed up with the Astros’ John McMullen. Another worthless lout.