sports wheeling-and-dealing

the insanity of publically subsidized stadiums for private enterprises (run by m/billionaires) continues with the NY Jets manhattan stadium. the $720 million offer by the Jets is by no means chump change, but the city is "turning down two competing proposals worth more money."

the justification/rationalizations include jobs, olympics, blah, blah, blah... i don't envy new yorkers the inevitable increases in cost nor the traffic nightmares.

Bob Herbert of the NY Times (with whom i rarely agree) effectively summarizes the ridiculousness [bugmenot login]:

To put this in perspective, consider that the $600 million is nearly equivalent to the entire amount ($635 million) that Woody paid for the team. In effect, the public would be reimbursing him for the cost of the franchise.

¶ - nitish @ 2:10 PM