In January 2014 Gov. Andrew Cuomo announced that the state would invest $60 million to assist owners of the Buffalo Bills in renovating their stadium.
At the time I said this confirms that taxpayers should just say no to using public funds for any new or renovated major sports stadiums. This was quickly followed by another announcement by Cuomo that the state would invest up to $1 billion dollars in Buffalo.
Is Gov. Cuomo attempting to buy votes in an election year with taxpayers dollars? You decide.
It was recently revealed that the owners of the Buffalo Bills actually posted a profit of between $30 and $40 million in 2013 (Source: “Bills scored millions in ‘13: sources” by Josh Koshman which appeared in the New York Post on Aug. 9). Why should taxpayers subsidize a profit making business? The growing corporate welfare practiced by Cuomo is far worse than abuse of public welfare.
In ancient Rome, government attempted to curry favor with the masses by offering free bread and circuses. Today, we have sports pork.
How sad that taxpayers are continually asked to pay for new stadiums.
Public dollars are being used as corporate welfare to subsidize a private-sector business. The only real beneficiaries of these expenditures are team owners and their players who earn far more than the average fan.
It is impossible to judge the amount of new economic activities that these so-called public benefits will generate.
Between selling the stadium name, season sky boxes and reserve seating, cable, television and radio revenues, concession refreshment and souvenir sales along with rental income for other sports, rock concerts and other commercial events, it is hard to believe that any owner can’t finance his new or renovated stadium on his own.
Given the current fiscal crises along with weak economy, 7 percent unemployment rate plus 7 percent who just given up looking and millions more working for minimum wage or part time who are looking for better paying full time jobs along with projected deficits in the billions – there are other services more worthy of investment.
Professional sports are not an essential service and should not qualify for government subsidy.
Scarce taxpayer funds would be better spent elsewhere. If this is going to be such a great financial deal, why don’t team owners float their own bonds or issue stock to finance his new stadium rather than turn to taxpayers and government for support?
Go obtain loans from banks, like medium and small businesses.
Real business people who believe in capitalism build companies on their own. How sad that some don’t want to do it the old fashion way by sweat and hard work.
They are looking for shortcuts in the form of huge subsidies at taxpayers expense and favors from elected officials.
Don’t fall for the feel good advertisements which have been running at taxpayers expense since January 2014 extolling how great things are under Cuomo.
Just like an onion, peel away the layers and you will see Emperor Cuomo wears no clothes.
Intelligent voters should look for other alternatives to our governor for the next four years in November.
Larry Penner
Great Neck
