Are they worth the money?
No, not the millionaire stars. Rather their billion-dollar stages.
The question is fair now as Gotham concurrently raises two new baseball stadiums and Dallas flexes its luxury muscle. With the world's financial crisis continues to eviscerate taxpayers' savings, there has been public backlash in New York, demanding that Mayor Mike Bloomberg and the city to give up suites in exchange for cash. That was done soon after. In Texas, Jerry Jones has to be concerned with filling seats, let alone T.O.'s locker stall. As Ben Casselman writes in today's Wall Street Journal:
In a case of monumentally bad timing, this year three of the biggest names in pro sports -- the Yankees, New York Mets and Dallas Cowboys -- are opening three of the most expensive stadiums ever built, filled with premium-priced seats and luxury amenities. At a combined cost of more than $3.5 billion, the stadiums were conceived and financed in a vastly different environment, a time when corporations and municipalities were flush with cash. Now they're opening just as corporate America is going through a massive belt-tightening -- and trying to avoid the appearance of extravagance at all costs.
If you're a fan of the Yankees, Mets or Cowboys, are you bothered by the fact your team is opening a billion-dollar playground amidst one of the worst recessions in decades? Or are you simply happy your team is getting a sparkling new stadium, regardless of the cost or the circumstances?
Luxury Strikes Out [The Wall Street Journal]