Falcons Owner Arthur Blank Will Collect All the Super Bowl LIII Revenue—Even Though Taxpayers Own the Stadium
The costs of maintaining and upgrading the stadium would be taxpayer-funded in perpetuity.
Saturday, February 02, 2019
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On Sunday, the eyes of the nation will fall on Atlanta’s brand-new Mercedes-Benz Stadium, site of the 53rd Superbowl. As players and spectators pour into the city, they’ll be dazzled by a state-of-the-art retractable roof and an enormous, wrap-around digital screen. What will be less apparent to thousands of spectators and millions of television viewers is a different kind of innovation—a carefully concealed legal clause that will privatize future profits of the publicly-funded stadium.
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Crony Capitalism at its best!
It’s the old shell game of “privatize profits — socialize costs or losses”.
There ought to be a law to prevent ANY “public – private partnerships” for any reason!
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