Not sure about that since Enron field is baseball only. Reliant Stadium by the old Astrodome is a complex where they have a lot of different events.
When Bud Adams (owner of the Oilers) threatened to leave Houston, they let him, because he was universally disliked. The Astros owner had more stroke so they kissed his ass to stay. They claim he had a stake in the deal for about 40 million. Trouble was they GAVE him the naming rights to sell, which he sold to Enron for 100 million. So before the first pitch was thrown, he made 60 million. Now Enron fell apart and they were on a 10 year plan, but that is a different story.
They also claim it is all recouped by extra taxes they charge on hotels and rent cars. They really stick it to travelers now.
The fundamental issue is that in the old days, all the stadiums were owned by the city and/or county. The team owners got tired of paying rent so they strong armed the cities into building them new stadiums, which they own all or part of, plus the lucrative concessions business.
Quote:
Originally Posted by aklim
I think part of the problem is that like in your case, the threat of the Astros going out to somewhere else is similar to Janesville WI and GM. They have been sucking so long on the GM tit that they are not sure if they can make it if the factory moves. Sure, there is some loss of revenue but whether it is paid for by the stadium is up to debate. Obviously since I own a restaurant or a hotel in Houston, you bet I will be for it. OTOH, since I am Joe Citizen, I might not be so willing.
Don't they rent the stadium out for the remaining days for other things?
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12-27-2008, 12:24 PM
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