Really good article in the News today.
The teams are sharing the stadium costs 50-50. That’s $800 million each. Each team received $150 million from the NFL‘s stadium fund that is repaid with the visiting team’s share of the club box revenue. That brings the number down to $650 million per team.
The fan backlash has been understandable and predictable. Each team, after taxes, will generate $175 million from the PSLs. That brings the stadium price tag down to $475 million per team.
The naming rights estimate: The final number will be $30 million per year. Over a 20-year period, that raises another $300 million per team, bringing it down to $175 million per team. Sponsorships further defray the cost.
Myers does a good job asking the greatest question of them all: Why do they even need a new stadium?
Given the choice between staying in Giants Stadium or paying the PSLs and increased ticket prices, one longtime (his family’s tickets go back to 1964 inYankee Stadium) season ticket holder told me it’s an easy choice.
“I would stay in Giants Stadium,” he said. “There is nothing wrong with it. Sometimes the access roads and the parking is messy, but that’s only because they are building a new stadium. Every seat is terrific, it’s not in disrepair, there is enough restroom facilities.
“I sit in my seat the beginning of the game and don’t get up until the game is over. My friends go to the bathroom at halftime and get back in time for the kickoff.”
I think Mushnick has the best idea of them all….no matter what the stadium is offically names, everyone should call it PSL Stadium. That will make the naming rights useless. I’m in.