Jed York Chief Executive of the San Francisco 49ers and the 49ers will get a tax cut worth $180 million from Santa Clara County. The tax cut will run for 30 years. Another example of public money supporting professional sports stadiums (photo by Sports Illustrated)
On the Oakland A’s Relocation podcast with Daniel:
#1 Daniel, this week the San Francisco 49ers got a tax cut worth $180 million in a ruling from a Santa Clara County Judge. The 49ers have over 30 years remaining on their lease at Levis Stadium. The ruling by Superior Court Judge Helen Williams reject a lawsuit brought on by Santa Clara Assessor Lawrence Stone. The lawsuit challenged the taxable value of Levi Stadium that was set by an appeals board back in 2019.
#2 Like what Schools over Stadiums are saying about the public money that is going to fund the Tropicana ballpark in Las Vegas to the tune of $380 million. Santa Clara Unified School District will be hit with a $2.4 million in revenue because of the 49ers tax relief. Santa Clara will lose out on $32 million and this will be over the life of the Levi 30 year lease. The city of Santa Clara takes a $24 million loss in tax revenue during the 30 year lease. So Schools and education again gets pushed to the bottom of the list.
#3 Oklahoma City voter approved public funding for the Oklahoma City Thunder for a new $900 million downtown arena. The approval keeps the Thunder in Oklahoma City through 2050. 71% of all precincts reported that the funding has been approved. There will be a one cent sales tax for the next additional years. The tax won’t start until 2028. Universities in the state of Oklahoma were against the use of public money to fund the arena with some Oklahoma professors all with PhD’s who were against the public funding, but could not beat back the public support for the new downtown arena.
#4 Daniel taking a look at some these passages for public monies for the 49ers and the Thunder it would look like it will be an uphill battle for the Schools over Stadiums to beat back public funding from the state of Nevada if they could get the signatures to get it on the ballot it’s getting the voters to vote down the public money for the Tropicana ballpark. Not that easy.
#5 The A’s so far have not come up with rendering, they still have to get approval from the FAA to build at the corner of Las Vegas Blvd and Tropicana because of the lights of the ballpark could interfere with landing and take offs as home plate fronts the airport strip, also A’s owner John Fisher needs to come up with his share of the $1.1 billion for the construction of the Tropicana, Fisher owes $48 million for the Oakland Coliseum property for his half that comes due to Alameda County in Jun 2024.
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