Posts Tagged "football"

49ers Fans To Talk Smack To Seattle Via Billboard →

parislemon:

ESPN:

Fans of the 49ers have raised more than $9,000 to purchase a billboard in Seattle aimed at taunting residents with images of the five Super Bowl trophies the 49ers have won as a franchise. The group’s website said as of Wednesday afternoon that $9,358 has been raised.

With the project expected to cost $7,000, the remaining money will be contributed to Seattle’s Children’s Hospital, according to project manager Aasheesh Shravah.

Brilliant.

foxsports:

The Eli Manning ‘15 Interceptions Face’ is the greatest Eli Manning face of all-time.

(Via )

 

yahoosports:

The TD didn’t count, but thank you David Wilson for this gem.

yahoosports:

The TD didn’t count, but thank you David Wilson for this gem.

theatlantic:

How the NFL Fleeces Taxpayers

Last year was a busy one for public giveaways to the National Football League. In Virginia, Republican Governor Bob McDonnell, who styles himself as a budget-slashing conservative crusader, took $4 million from taxpayers’ pockets and handed the money to the Washington Redskins, for the team to upgrade a workout facility. Hoping to avoid scrutiny, McDonnell approved the gift while the state legislature was out of session. The Redskins’ owner, Dan Snyder, has a net worth estimated by Forbes at $1 billion. But even billionaires like to receive expensive gifts.

Taxpayers in Hamilton County, Ohio, which includes Cincinnati, were hit with a bill for $26 million in debt service for the stadiums where the NFL’s Bengals and Major League Baseball’s Reds play, plus another $7 million to cover the direct operating costs for the Bengals’ field. Pro-sports subsidies exceeded the $23.6 million that the county cut from health-and-human-services spending in the current two-year budget (and represent a sizable chunk of the $119 million cut from Hamilton County schools). Press materials distributed by the Bengals declare that the team gives back about $1 million annually to Ohio community groups. Sound generous? That’s about 4 percent of the public subsidy the Bengals receive annually from Ohio taxpayers.

In Minnesota, the Vikings wanted a new stadium, and were vaguely threatening to decamp to another state if they didn’t get it. The Minnesota legislature, facing a $1.1 billion budget deficit, extracted $506 million from taxpayers as a gift to the team, covering roughly half the cost of the new facility. Some legislators argued that the Vikings should reveal their finances: privately held, the team is not required to disclose operating data, despite the public subsidies it receives. In the end, the Minnesota legislature folded, giving away public money without the Vikings’ disclosing information in return. The team’s principal owner, Zygmunt Wilf, had a 2011 net worth estimated at $322 million; with the new stadium deal, the Vikings’ value rose about $200 million, by Forbes’s estimate, further enriching Wilf and his family. They will make a token annual payment of $13 million to use the stadium, keeping the lion’s share of all NFL ticket, concession, parking, and, most important, television revenues.

After approving the $506 million handout, Minnesota Governor Mark Dayton said, “I’m not one to defend the economics of professional sports … Any deal you make in that world doesn’t make sense from the way the rest of us look at it.” Even by the standards of political pandering, Dayton’s irresponsibility was breathtaking.

In California, the City of Santa Clara broke ground on a $1.3 billion stadium for the 49ers. Officially, the deal includes $116 million in public funding, with private capital making up the rest. At least, that’s the way the deal was announced. A new government entity, the Santa Clara Stadium Authority, is borrowing $950 million, largely from a consortium led by Goldman Sachs, to provide the majority of the “private” financing. Who are the board members of the Santa Clara Stadium Authority? The members of the Santa Clara City Council. In effect, the city of Santa Clara is providing most of the “private” funding. Should something go wrong, taxpayers will likely take the hit.

The 49ers will pay Santa Clara $24.5 million annually in rent for four decades, which makes the deal, from the team’s standpoint, a 40-year loan amortized at less than 1 percent interest. At the time of the agreement, 30-year Treasury bonds were selling for 3 percent, meaning the Santa Clara contract values the NFL as a better risk than the United States government.

Although most of the capital for the new stadium is being underwritten by the public, most football revenue generated within the facility will be pocketed by Denise DeBartolo York, whose net worth is estimated at $1.1 billion, and members of her family. York took control of the team in 2000 from her brother, Edward DeBartolo Jr., after he pleaded guilty to concealing an extortion plot by a former governor of Louisiana. Brother and sister inherited their money from their father, Edward DeBartolo Sr., a shopping-mall developer who became one of the nation’s richest men before his death in 1994. A generation ago, the DeBartolos made their money the old-fashioned way, by hard work in the free market. Today, the family’s wealth rests on political influence and California tax subsidies. Nearly all NFL franchises are family-owned, converting public subsidies and tax favors into high living for a modern-day feudal elite.

Read more. [Image: Matt Lehman]

yahoosports:

This happens when the Jets win their opener.

Microsoft's $400 Million NFL Deal Includes Surfaces On Sidelines →

parislemon:

Samit Sarkar:

Microsoft’s partnership with the NFL also makes the Surface the official tablet of the league, and Microsoft hopes that teams will start to use the devices on the sidelines during games. We saw a brief demo of a Surface app called X2 that’s designed to allow team staff to more easily track concussions.

Something tells me we’re going to be seeing a lot of devices that look a lot like iPads on the sidelines but so obfuscated that you can’t quite make them out. Sure, they’re Surfaces! 

“Generally, ESPN’s business interests will always be at odds with its journalism. It is not a journalism company. It’s an entertainment company. This is the age of journalism we live in, not just at ESPN but everywhere. Journalism is increasingly more corporate. When you get in bed with the devil, sooner or later you start growing your own horns.”

A high-profile columnist for ESPN • Speaking off the record to The Nation about the media outlet’s decision to end a collaboration with PBS’ Frontline on the NFL’s concussion problems—this despite the fact that two journalists on ESPN’s payroll worked on the project, which includes a book and documentary, for more than a year. The lesson here? The NFL has a big contract with the network, and money talks.

(via shortformblog)