Stadium Financing, Texas Style

Everyone has gone completely bonkers. And by that I mean insane. Nutso. Cuckoo. And all in an effort to massage Jerry Jones's ego.

Check out this story. The voters of Arlington, Texas, agreed to pay $325 million to finance a new stadium for the Dallas Cowboys. And get this: That is not even going to cover one-third of the total cost.

Yep. Jerry Jones is building a $1 billion stadium.

Look. This is not bilking taxpayers in order to keep the team around. Or to stay competitive. This is an exercise in complete and utter excess. And don't take it from me. Check out the story. Take a look at how they are pitching this thing:

Bob Costas was the master of ceremonies and his hyperbole-filled introduction included calling the stadium "the most extraordinary athletic facility ever conceived ... a 21st century, supersonic setting." A video leading to computer-generated shots of the interior referenced the Pyramids in Egypt and the Colosseum among other architectural wonders. :

I suppose that the knock against things like the pyramids is that the designers used slave labor to build themselves a bit of immortality. Seems to me that Arlington residents who voted against the project but are stuck with the bill anyways might be feeling sympathetic at the moment.

Look. A $700 million stadium would still be a pretty nice stadium. But that's not enough for Mr. Jones. Or the NFL.

But I can take at least some solace. Despite all that money, all that excess, someone still forgot to buy some class: The stadium will come complete with artificial grass.

Comments

[Mark Stroup]

As far as I know, new stadiums still get tax-exempt financing. So that means 15 to 20 percent of the remaining $775 million is underwritten by a tax break. More here.

[sean mcdaniel]

damn sam

don't you know everything's bigger in texas...even subsidies.

[nemo31]

Compared to the pyramids. Will this thing still be a draw in 4,000 years? Or will this be imploded in 40 years for the next stadium

[sean mcdaniel]

well, who know how long the pyramids would have lasted if the pharohs had known about luxury sky boxes. then again, i'd rather see a football field imploded insteads hearing about a busload of tourists being exploded on a visit to the pyramids.