Relocation and New Stadiums idea

[GoIrish]

There is a lot of talk here in Chicago about the renovations that are being proposed to Wrigley and the financing behind it. Then you also hear about LA trying to attract a new football team and the incentives that they are providing. That got me thinking...

In regards to the financing, the cubs are getting some money from the state and city for the work that they are going to get done. The difference, they are going to finance through a bank. What if we were able to finance some of our renovation work? Instead of having to come up with the 50M or 100M in one shot, you were able to finance that over 5-10-15 years on payements (with a yearly interest).

The other idea is about relocation. You hear in LA that they have plans to build a new stadium for a professional football team. Now they are just trying to entice a team to move. The city and corporations out in LA are willing to pay the costs for the stadium and help the team with the move. What if we put together a few cities and they did something of the same nature? Obviously, I don't think it would be fair for a team to just pick up and move. There should be some sort of cost to the team and screening/application process involved. I just think that it is an idea that can promote more activity that can be fun.

[AndyP]

I like the payments over multiple years idea. The only catch is we'd have to put a cap on how much could be borrowed and people would have to understand that they can't do any further upgrades until the current ones are paid.

But I like it. 50M in cash is a shit ton of money - especially when we already have people concerned about tanking. Making up that much money without tanking is tough.

Maybe we allow teams to borrow 50M or 100M at a time for stadium upgrades and we have a set of standards for interest that would accrue in that time:

If paid in 1 year: 0%
2 years: 3%
3 years: 5%
4 years: 7%
5 years: 10%

Or something to that effect.

[Cdawg]

I offered, pretty much the same thing back in April loans so that you can build a new stadium or renovate them. It was accepted back then but not really moved past the thinking part here.

[mike]

I like idea for loans idea, as it is hard ot get that much money without seriously tanking.

As far as relocating goes I would only like it if the cities teams were moving to were no better than the lowest budget team in the league. Last thing we need is more teams with 150mil payroll.

[GoIrish]

I like the payments over multiple years idea. The only catch is we'd have to put a cap on how much could be borrowed and people would have to understand that they can't do any further upgrades until the current ones are paid.

But I like it. 50M in cash is a shit ton of money - especially when we already have people concerned about tanking. Making up that much money without tanking is tough.

Maybe we allow teams to borrow 50M or 100M at a time for stadium upgrades and we have a set of standards for interest that would accrue in that time:

If paid in 1 year: 0%
2 years: 3%
3 years: 5%
4 years: 7%
5 years: 10%

Or something to that effect.

I agree Andy, there would need to be a sliding % for the interest rates based off the length of the loan.

We would also need to make sure that we had some sort of punishment in place for delinquency in payments.

Mike,

I do agree that is why I said we would need to address the who's what's and how's we would allow relocation but I think that is an idea that could create more activity for the league. I also don't feel it is too far from what we are going to see in real life. These cities know the revenue that the teams bring to the table, so do the businesses in the area.

I also don't think we have many markets out there that will turn a low market tieam to a high market. All of the games high markets are tapped already. If anything some changes might be low market to mid market teams. Which that in itself could help teams become a tad more competitive.

[dlee2499]

I'm thinking the same thing for PHI. I want to keep my fans coming, which is no easy task considering my team is a AA all-star team. I like the loaning idea, but maybe we could brainstorm some other financing solutions? Just throwing out some ideas here.

[mav3rek]

I'm all for upgrading or building new stadiums, but 100% against relocation.

[dejota]

Here's my rough draft of how we can do loans:

The only requirement to initiate the loan process is to ask for one and submit a brief proposal to the admins with the following information (Post in stadium upgrades forum):

A) Amount Requested (Please "Build" a stadium and see how much it'll cost to build the stadium you want, report that number)
B) Current Sesaon's payroll
C) The Following season's payroll commitments
D) Current cash

We'll review that info and come back with a proposal of how many years to pay back, how much and an agreed payroll budget limitations over the life of the deal. This way it's clear when the loan will be repaid and what financial restrictions the team will be under.

[AndyP]

I dig it.

[GoIrish]

sounds good to me too