Here's a good example of how difficult it could be to answer a simple question about baseball stadium financing: Who paid for what?
In today's story about the opening of the Charlotte Sports Park, we broke down the funding of the $27.2 million facility this way -- 54 percent Charlotte County, 33 percent state, 13 percent Tampa Bay Rays.
The Rays challenged the figure early this morning, saying their contribution was greater. In short, it is and it isn't. Here's why: The $27.2 million project will actually be paid off over a number of years. With interest, the money going out the door over time is more like $47 million. Of every dollar being put in to paying off the stadium renovations, the Rays are indeed contributing around 13 percent.
But the team says its contributing more of its money early on, meaning its dollars have greater buying power. Following?
Put another way, the Rays are contributing about 13 percent of all the cash needed for the project, but because they are contributing more cash sooner than the state and the county, they say they are actually paying for more of the work.
How much more? We're trying to figure that out. When we do, we'll let you know.
Then take an aspirin.
Aaron Sharockman, Times Staff Writer
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The Tampa Bay Rays continue to pursue plans for a new baseball stadium. Host
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