which teams own their stadium?
and why did some teams sell their stadium to their city.
- 1 decade agoFavorite Answer
The teams that currently own their own stadiums are the Giants, Dodgers, Red Sox, and Cubs. I am not sure on the Braves situation since Turner Field was owned by TBS and then Time-Warner, but since the Braves were sold to Liberty Media, I am unsure if Turner Field was part of the deal. The Marlins used to indirectly own their stadium for their 1st 6 years, with Marlin owner Wayne Huizenga having bought the Dolphins stadium prior to the Marlins playing, then buying the Dolphins, then selling the Marlins in 1998. THe Yankees owned Yankee Stadium in it's original state(1923-1973) but sold it to the city when it was remodeled by 1976.
As for city ownership, actually there are major tax advantages to leasing instead of owning. According to current IRS rules it takes 39 1/2 year to depreciate a stadium.
It actually saves tax money to pay rent, which is all deductible, rather than only being able to expense 4% of the cost every year.
- brettj666Lv 71 decade ago
Well, for Toronto, the city made the stadium, at a cost of $625 mil of taxpayers money.
Taxpayers go in and are gauged.
It ceased to be functional for much outside of baseball, CFL football and some monster truck rallies and the city sold it to Ted Rogers, (who owns the blue jays) for $25 mil.
Quite the deal he got, a $600 mil discount.
- hattoriLv 44 years ago
All communities very own their very own stadium. Up till recently it grew to become into greater user-friendly to proportion a stadium with the an NFL group. although, that has long gone out of form because of the fact base ball needs to have greater of an "intimate" sense to it, baseball crowds on no account get that significant (different than play off''s or the international sequence) so there are various "wasted" seats. additionally, the infield reasons too plenty airborne dirt and airborne dirt and mud/airborne dirt and mud for whilst the NFL communities. once you used to confirm the NFL "airborne dirt and mud bowl" video games it somewhat is with the help of the airborne dirt and airborne dirt and mud from the baseball infield and warning track. so a techniques as 2 MLB communities sharing a stadium yet it somewhat is in basic terms on occasion because of the fact one group or the different grew to become into waiting on a clean stadium being equipped or their stadium had something incorrect with it and so on.
- godschildLv 51 decade ago
i have never heard a city owning the teams, i think baseball team and any other team, is owned by a company
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- 1 decade ago
The Giants own AT&T Park
- 1 decade ago
- Michael MLv 71 decade ago
very good question. hardly any - cities and states with bonding revenues.