New Stadium for the Redskins being planned . . .

[tshile]

PG County gets a 10% amusement tax on every ticket to every event in the stadium.

They get their own tax on sales of certain items too.

Have you done the math on that over 30 years? That's how long the lease is for, and you can bet any buyout of the contract is going to include covering that cost (regardless of who pays it.)

You guy sthink the money PG county put down for the stadium is a lot?

Run the numbers on the tax revenue they get just from football games. Then try to roughly guess how much they get from college games, concerts, and whatever else they host there ever year. Then multiply it by 30.

[NC_Skins]

Originally Posted by tshile

PG County gets a 10% amusement tax on every ticket to every event in the stadium.

They get their own tax on sales of certain items too.

Have you done the math on that over 30 years? That's how long the lease is for, and you can bet any buyout of the contract is going to include covering that cost (regardless of who pays it.)

You guy sthink the money PG county put down for the stadium is a lot?

Run the numbers on the tax revenue they get just from football games. Then try to roughly guess how much they get from college games, concerts, and whatever else they host there ever year. Then multiply it by 30.

You forgot the biggest detail of all. You forgot to subtract expenses (initial and reoccurring). Add up all the expenses on fire/rescue/police/road maintenance/ stadium maintenance/ etc... and subtract it from the revenue.

[saden1]

Originally Posted by NC_Skins

You forgot the biggest detail of all. You forgot to subtract expenses (initial and reoccurring). Add up all the expenses on fire/rescue/police/road maintenance/ stadium maintenance/ etc... and subtract it from the revenue.

Don't forget to factor in opportunity cost!

If you spend $70,000,000.00 on an unnecessary product or service, and you could otherwise invest that money for 30 years at 4%, then spending the $70,000,000.00 could cost you $161,944,861.02 in forgone interest earnings. This would bring the real price-tag of what you are spending your money on to $231,944,861.02. So the question you should ask yourself is: Is what I am spending my money on worth $231,944,861.02?

[tshile]

I believe Snyder pays for that.

At least he pays for police. I'm assuming he pays for the EMS/Fire fighters that are there too.

Snyder also pays for stadium maintenance.

I'm sure PG county pays for road maintenance, as they agreed to in the contract.

Did you do the math yet on the tax revenue?

[NC_Skins]

Originally Posted by tshile

I believe Snyder pays for that.

At least he pays for police. I'm assuming he pays for the EMS/Fire fighters that are there too.

Snyder also pays for stadium maintenance.

I'm sure PG county pays for road maintenance, as they agreed to in the contract.

Did you do the math yet on the tax revenue?

So for them to be profitable. They have to gain over the course of 30 years than what they've put in. Simple formula:

Revenue -[70mil + (annual expenses x 30)]= Profit/Loss

[tshile]

Originally Posted by NC_Skins

So for them to be profitable. They have to gain over the course of 30 years than what they've put in. Simple formula:

Revenue x 30 -[70mil + (road maintenance x 30)]= Profit/Loss

Right.

Have you done the math on the revenue yet?

ps - fixed your formula

[NC_Skins]

Originally Posted by tshile

Right.

Have you done the math on the revenue yet?

ps - fixed your formula

They pay more expenses than just road maintenance.

[tshile]

Originally Posted by NC_Skins

They pay more expenses than just road maintenance.

like?

seriously, try to do the math on 10% of every seat sold in that stadium. don't forget the various price points, including the ridiculous club level contracts, as well as parking.

also look up PG County's cut of the alcohol sales, as well as food and merchandise.

then come in here and talk about how 70 million, roads, and whatever else you can come up with makes that all not worth it.

By the way - PG County and MD wanted the training camp site. DC, after just building two stadiums for two other teams, wants the Redskins new stadium.

But yeah - your simple math and assumptions trump all of that. It's obviously a terrible investment for DC

PS - I did the math before the recent price increases. I know what the numbers look like. That's why I keep asking you to do it. I can't help but wonder why you would form such a strong opinion and refuse to spend 5 minutes doing some basic math to see how your opinions stack up.

[Giantone]

Originally Posted by tshile

I believe Snyder pays for that.

At least he pays for police. I'm assuming he pays for the EMS/Fire fighters that are there too.

Snyder also pays for stadium maintenance.

I'm sure PG county pays for road maintenance, as they agreed to in the contract.

Did you do the math yet on the tax revenue?

Add in "inflation " what would it cost today to add the same roads ,sewers ,Metro,etc . Do you think in over the 30 years(lease) that people bought fuel , clothing , food, went to restaurants in PG county ,did they pay taxes ,did the retailers pay taxes ,did those retailers profit from the infrastructure around Fed Ex since it is used every day and just not on game day ?

[Giantone]

Originally Posted by Giantone

Add in "inflation " what would it cost today to add the same roads ,sewers ,Metro,etc . Do you think in over the 30 years(lease) that people bought fuel , clothing , food, went to restaurants in PG county ,did they pay taxes ,did the retailers pay taxes ,did those retailers profit from the infrastructure around Fed Ex since it is used every day and just not on game day ?

I bring this up because the FBI is looking at the old Landover Mall site as one of it's locations to move to ,if it is chosen the "infrastructure is already in place from the exits on the Beltway to the Metro stop are all in place ,what would have been the cost if they had waited to do it all now ,would the FBI even be looking at PG county if all that wasn't there , no .

[CRedskinsRule]

I can't see it being a loss for the county, it may not be a huge gainer, but it probably is at least revenue neutral. No I haven't done any math, but if Stadiums were sinkholes, people wouldn't be clamoring to get them, as AT&T would say, it's not complicated.

I mean, I know the math can be complicated, and lots of variables come in to play, but really really bottom line, if PG County could point to FedEx and say that's where all the money is going, and try to get Dan Snyder to somehow pony up more money, there would be politicians out wazoo making that statement.

[saden1]

Originally Posted by CRedskinsRule

I can't see it being a loss for the county, it may not be a huge gainer, but it probably is at least revenue neutral. No I haven't done any math, but if Stadiums were sinkholes, people wouldn't be clamoring to get them, as AT&T would say, it's not complicated.

I mean, I know the math can be complicated, and lots of variables come in to play, but really really bottom line, if PG County could point to FedEx and say that's where all the money is going, and try to get Dan Snyder to somehow pony up more money, there would be politicians out wazoo making that statement.

You kinda have to do the math to determine whether its a loss or neutral. The problem is politicians don't like to release numbers so we can do the math. I can also assure you that when FedEx Field was being built there were politicians who were screaming NO but there weren't enough of them.


Only an honest man can say "No!" to a sweetheart deal.

How the NFL Fleeces Taxpayers - Gregg Easterbrook - The Atlantic


My favorite...very creative...

In California, the City of Santa Clara broke ground on a $1.3 billion stadium for the 49ers. Officially, the deal includes $116 million in public funding, with private capital making up the rest. At least, that’s the way the deal was announced. A new government entity, the Santa Clara Stadium Authority, is borrowing $950 million, largely from a consortium led by Goldman Sachs, to provide the majority of the “private” financing. Who are the board members of the Santa Clara Stadium Authority? The members of the Santa Clara City Council. In effect, the city of Santa Clara is providing most of the “private” funding. Should something go wrong, taxpayers will likely take the hit.

[donofriose]

I am waiting for someone to say FIFA helped out Brazil... Eerily similar in my personal opinion.

[tshile]

Originally Posted by donofriose

I am waiting for someone to say FIFA helped out Brazil... Eerily similar in my personal opinion.

Brazil built stadiums out in the middle of nowhere, where the cost of getting the materials to the site alone was astronomical. Stadiums that were used for a week, or two, or three and have no long term planned use.

Brazil's FIFA experiment has been shown to have lined the pockets of a few builders via corrupt politicians at the expense of the rest of the country.

I don't know anyone other than FIFA and Brazil that have tried to tout that as smart or a success on any level.

[KI Skins Fan]

This thread hasn't gotten too bad.