Sep 26, 2011, 1:00 PM EDT
You know where I stand on the issue of public funding for ballparks. If not: I think it’s only slightly preferable to a swift kick to the groin. Not a fan.
But what if, instead of it being a taxpayer thing, it was a matter of private investment? That’s Phil Rosenthal’s plan for Wrigley Field: let the public buy shares in the ballpark and use that money for the $200-300 million in renovations the joint needs.
It’s one of those ideas that sound kind of neat when you first hear it, but that doesn’t hold up under even moderate scrutiny. The moderate scrutiny comes from Ballpark Digest, which deconstructs Rogers’ proposal. He explains why it wouldn’t work within baseball’s current system — neither MLB nor the Cubs have any desire to offer the kind of transparency required of such a deal — and while it wouldn’t work structurally. Mostly because it would require way too many investors offering way too much money per share to both finance the thing and to keep anyone from gaining a controlling interest over the ballpark.
Nice idea, I guess. But I don’t know why so many people spend so much of their time trying to think of ways to help billionaires with their million-dollar problems.
- Video: Mike Trout makes a ridiculous slide to beat the tag at third base 2
- Cuba’s best pitching prospect is on his way to America 20
- Will Smith suspended for eight games for the foreign substance on his arm 61
- Will Smith’s ejection once again shows baseball’s silly approach to foreign substance rules 48
- And That Happened: Thursday’s scores and highlights 95
- Who really owns a home run ball? 65
- The story behind the Nationals squirting chocolate syrup on each other after big wins 43
- And That Happened: Wednesday’s scores and highlights 131
- And That Happened: Wednesday’s scores and highlights (131)
- Bryce Harper on Marvin Hudson ejection: “I don’t think 40,000 people came to watch him ump” (130)
- Bryce Harper ejected for second time in a week (122)
- GM Dan Jennings to be named the Marlins new manager. And it’s a terrible idea. (111)
- And That Happened: Tuesday’s scores and highlights (101)