Ash Street scandal's pricetag continues to mushroom, as does unsolved pension costs, other problems. How can we be better?
Six years agoadd today after ago in cue, Dean Spanos announced he would move the Chargers out of town, ending the football club’s San Diego run that began in 1961.
Was California initiating a make-the-NFL-billionaires-pay trend that would spread across the country? It appears not, given the huge subsidies Nevada and New York state have since funneled the football empire, which as of today has nearly $125 billion of negotiated media rights fees coming its way. We’ve seen professional soccer teams rise up in San Diego not far from where Hall of Fame footballers Lance Alworth, Junior Seau and LaDainian Tomlinson excited locals. Enthusiastic crowds ranging from 18,000 to 32,000 cheered the newest of those teams, the Wave Futbol Club of the National Women’s Soccer League.
We’ve learned that a mayor and a city council signed off on a horrific real estate deal for a decrepit office tower with zero due diligence. Apparently, the city’s legal experts didn’t anticipate the boondoggle to come. As a result, the public is on the hook for $350 million in debt over the next 30 years plus opportunity costs.
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