Plans to build the Islanders hockey team a new stadium for $350 million along with a minor league ball park for $50 million at the current Nassau Veterans Memorial Coliseum site assisted by the public bonding of significant portions for both project costs is disappointing. Both remind me of why taxpayers should just say no to using public funds for any new major sports stadiums. “Mangano pushes casino, coliseum redevelopment” (Jessica Ablamsky — May 13).
In ancient Rome, government attempted to curry favor with the masses by offering free bread and circuses. Today, we have sports pork.
How sad that taxpayers are continually asked to pay for new stadiums. Public dollars are being used as corporate welfare to subsidize a private-sector business. The only real beneficiaries of these expenditures are team owners and their players who earn far more than the average fan.
It is impossible to judge the amount of new economic activities that these so-called public benefits will generate. Between selling the stadium name, season sky boxes and reserve seating, cable, television and radio revenues, concession refreshment and souvenir sales along with rental income for other sports, rock concerts and other commercial events, it is hard to believe that owner Charles Wang can’t finance his new stadium on his own. The same is true for one of the major league baseball team owners to finance a new stadium for one of their own minor league farm teams.
Given the current county fiscal crises along with weak economic revenues and projected deficits – there are other services more worthy of investment. Professional sports is not an essential service and should not qualify for government subsidy.
Scarce taxpayer funds would be better spent elsewhere. If this is going to be such a great financial deal, why doesn’t Mr. Wang float his own bonds or issue stock to finance his new stadium rather than turn to taxpayers and government for support?
Likewise, any major league team owner can float their own bonds or issue stock to finance a new stadium for one of their own minor league farm teams. Either could also obtain loans from banks, like medium and small businesses.
Real business people who believe in capitalism build companies on their own.
How sad that some don’t want to do it the old fashion way by sweat and hard work.
They are looking for shortcuts in the form of huge subsidies at taxpayers expense and favors from elected officials.
Larry Penner
Great Neck
