Wednesday, September 15, 2010

Want to buy a stadium?

Years ago, I received some junk mail that advised that it wasn't the wealth that you own that's important but the wealth that you control.

As it pertains to sports stadiums nothing could be more truthful.

Most teams rent the stadiums but they get to control everything in and around the facilities. In the case of the Bengals, the rent doesn't even cover the debt service on the buildings, now at 561 MILLION dollars. The shortfall is made up by an increased sales tax.

So now Chris Monzell, neighborhood idiot, thinks it's a good idea to sell the stadiums to relive the county of it's debt obligations............

The Republican candidate for Hamilton County Commission proposed a new solution to cover the debt for the county's two riverfront stadiums: sell them.

Chris Monzel proposed the idea Wednesday at a meeting with Enquirer editors and reporters, arguing the county shouldn't be in the stadium business.

"I will try with all my power to get us out of that," he said. "If you look at the core functions of county government, it's not owning two sports stadiums."

His Democrat opponent Jim Tarbell countered, "Nobody in their right mind will try and buy our stadiums. That is ludicrous."

So let me make sure I have this right. I pay millions for a property that generates little to no rent and I have to pay all the expenses for the upkeep on the facility. Where do I sign up?

The fact is, Mike Brown, with the help of Bob Bengalhaus (then county commissioner), ripped off the taxpayers of Hamilton County out of nearly a billion dollars.

But it's not even the money but the control they gave Mike Brown for development of the Riverfront. Not one thing can go on that site without his approval and his name isn't on one document of ownership.

I guess I need to start reading my junk mail more closely.


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