New Stadium/renovations

https://www.audacy.com/937thefan/sp...m=social&utm_source=facebook&utm_term=KDKA-FM

I'm not really shocked that these debates are starting on talk radio especially a day after Moorehouse getting that VP gig for strategy. It's going to be a very interesting time in these next few years.

 

I feel they already have been updating the Stadium with the seat add ons?

What could possibly need to be done?

 

I don’t see a new stadium as a possibility

There is no place on the north side to put it and Rooney made it very clear he has no interest outside the city

 

When there was talk about Heinz being built Washington County made some interesting noises and I think the team entertained them to get the City and Count officals to get serious. Upgrades are always in fashion, things have changed so much in the last 20 years they want to keep up, but where the stadium sits is ideal.

 

The way I see it is any new stadium outside of the north shore is going to require infrastructure upgrades that costs as much or more than the stadium itself. And if we're going to be using taxpayer money, then they better build a facility that can attract events like CBB F4, CFB Championship, WWE PPVs, SBs, political conventions and PAC conventions, and so on. Getting Cole Tucker, Metallica and Toby Keith just isn't good enough to justify such an investment.

 

Will their be taxpayer participation in any projects?
Most of the players live North. Might be the Butler County Steelers!

 

Willfully, probably no... but forceably, yes

 

I sat in the North endzone, way up high last season for the Ravens Game. What surprised me the most is how quiet it is up there. That stole a lot of the atmosphere. Whether or not this is feasible, I don't know, but if they were able to put a roof over that upper level, that would be a great addition for the fans up there. That would trap the sound and make it better. It also wouldn't do anything with shading the field of play. Whereas a roof structure on the south side / river side, would destroy views from the incline, south side of the river, and block sunlight onto the field of play.

Weather in Pittsburgh can be an advantage to the team in December when playing a southern or dome team. But it's not like weather in Buffalo. Pittsburgh should never feel any pressure from what the Browns are doing.

If it's nothing like that, then I could see upgrades to the restrooms and vendor areas.

 

Can you tell me why billionaires need tax payer help to finance their business?
To employ millionaires?

 

I can't believe there is even talk of a new stadium, or even renovations for that matter because I can't believe the stadium is 23 years old already. Three Rivers was what, 30 years old when it was replaced? Time does move fast when you get older. I went to a Steelers home game for the first time in 2019 and the place looked and felt like a brand new stadium but in todays environment with these super structures being built, I guess it is out of date when all things are considered.

I can't imagine a retractable roof for a Steelers stadium but it would open the door for a Super Bowl to be played in Pittsburgh. Maybe if they added partial roof over the stands like they did with the Dolphins stadium would be a decent option.

 

I agree with you. It's horrible what team owners are doing to their communities. So many crimes are being committed by these owners but the potential economic loss is what prevents them actually being held accountable for this.

 

The Buffalo area just approved a new stadium for the Bills, somewhere around 1.1 billion and no dome. I'm not sure what they are looking for as far as venue 'packing' events, I know they could probably do more, but the entire area is fabulous when there are other things scheduled. Some time ago there was a major artist in the area, not sure if it was PNC or Heinz, but the total area rocked. My wife and I were in town for something else, the concert was packed, but everything else in the area was booming. Just strolled around, took the incline, had dinner. The investment into that area really showed, I just so not think you get that outside of town, especially away from the rivers.

 

There are not enough hotel rooms in Pgh and surrounding areas to hold a Superbowl in Pgh. So please don't waste your time thinking about Superbowl possibilities.

 

Always thought the pefrect spot would be right where 79 meets the parkway. Plenty of space. Easy as hell to get in and out of from any direction you're coming. Straight shot to the airport that's maybe 10 minutes away. Instead of that f***ing nightmare downtown.

Here's where I mean. Actual size is correct.

 

It's why they are billionaires.

 

I don't think capitalism is about taxpayer funded stadiums, that came more from the local and state governments using a loophole...good read from CNBC that explains how the process works if anyone is interested in seeing how thee funding sausage is made.


https://www.cnbc.com/2022/12/22/taxpayers-are-paying-billions-for-nfl-stadiums-heres-how.html

The reason cities end up paying for stadiums begins with the issuance of tax-exempt bonds from state and local governments that the federal government has signed off on for decades.

These tax exemptions help lower the burden of high debt through low-interest municipal bonds used by cities and teams to pay for stadiums. Since 1913, municipal bonds have been a popular financing option for airports, roads, hospitals and schools. Private entities could still access these bonds but were subject to a volume cap limiting how many public bonds are issued annually.

As for stadiums, well, they weren’t subject to that cap. The Tax Reform Act of 1986 wanted to end the exemptions for private use, including stadiums. Instead, the bill inadvertently created a loophole allowing stadiums to be backed by tax-free public bonds.

The loophole works by creating an artificial financing structure through tax-exempt municipal bonds. To gain access to those bonds, private companies must fail one of two tests stipulated by the Tax Reform Bill of 1986.

The private use-case test states that a private entity can use no more than 10% of the money from a bond, a test that NFL teams will most certainly pass. Then there’s the private-payment test which states that no more than 10% of the bond’s debt service is backed by the stadium itself.

So if a state or local government is willing to finance at least 90% of the stadium’s cost, it fails the private-payment test — meaning the stadium will get tax-exempt financing through municipal bonds.

However, to keep that tax exemption, the repayment of bonds cannot come directly from revenue generated by the stadium or rent collection. Instead, cities rely on taxes like hotel levies to pay off these bonds. The recoupment of revenue generated by these taxes varies from city to city.


Since 2015, reining in spending on public funds being diverted to professional stadiums has become an increasingly bipartisan issue as both sides of the aisle have expressed shared interest in closing the 10% loophole.

In 2015, the Obama administration proposed removing the 10% loophole for sports and other private projects. In 2017, Sens. Cory Booker, D-N.J., and James Lankford, R-Okla., introduced a bill outlawing the use of tax-exempt bonds for any pro sports venues.

That same year, the Trump administration proposed eliminating the tax-exempt bonds for NFL stadiums through the administration’s tax reform bill. However, the language regarding NFL stadiums was lifted from the finalized tax reform bill.

Most recently, Rep. Earl Blumenauer, D-Ore., introduced a new bill called the No Tax Subsidies for Stadiums Act of 2022.

 

Because they can

it’s that simple

 

Football and baseball teams generate a significant amount of income for the areas they are in and this generates a lot of tax dollars which paid for the stadium

It’s actually good economics

 

I was in Pittsburgh on business this past week and we toured the stadium and the Hall of Honor. Found out that Troy and his family toured the hall only an hour after we left. The stadium was nice and didn't feel dated at all.

 

I go to all the games and for Steelers games the stadium is just fine and basic and needs little to nothing

But in this world a stadium needs/can be so much more and in that regard it’s mostly just a football stadium

A faculty that could handle say the DNC/RNC or the bigger conventions could bring so much more revenue into Pittsburgh

More revenue is more kinds is more tax base is more…..

This is why government has to be involved

And I’m not a big fan of government control

 

I thought I said that.

 

I probably had you on ignore

 

It will never be settled in people's minds. Pittsburgh will never draw national conventions like you mentioned, however with the right infrastructure they can draw regional events with national interest. For instance a few years ago when they had a portion on the ncaa BB tournament here. It's beneficial for a small market city like Pittsburgh to help the Steelers. The free advertising the city as a whole gets each year is worth a fortune if you have something to offer. The stadium itself is just a feature, how and what you surround it with is the keystone for other revenue and tourism.

The Rooneys are a Pittsburgh fixture, but as the world evolves and expands this type of ownership is becoming less in the sports world. If a corporate owner bought the team and eventually had a better financial opportunity they would at least look at it. The league might not let that happen, but you never know. My point, the tax breaks and investment in stadiums is more beneficial in total for the entire area, than losing that business and the impact it brings to the city.

 

They didn’t become billionaires by giving their money away.