Quote:
Originally Posted by SeattleUte
Your comparison is off base. The bottom line is the rent for an NBA arena is subsidized. The rent doesn't come close to covering the city's layout for the arena. If you work in a building financed through sale of minicipal bonds it's just a loan to the developer. He has to retire the bonds, pay them back with interest. That's not a subsidy but a financing mechanism. Municipal bonds are sold to private investors who expect to be paid, and who can sell their bonds because the market believes the borrower is good for the money. It's not the same thing as the city building the arena and giving a rent subsidy, as I expect you know.
Absent the subsidy, the owner couldn't afford to pay his spoiled super stars such high salaries.
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I think it is your comparison that is off base.
As I stated before, the actual Staples building was built with private funds.
A portion, not all, of the land was funded by muni bonds and a guaranteed loan on the part of the city. The rest was entirely private.
So for me to answer your question, maybe you should pick a different athlete from a team that actually plays in a subsidized building.
Also, Kobe's salary going into next season is 21M. Last season it was 20M. Where did you get the $30M?