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TODAY: Tuesday, May 23 | |||||
Critics blast Red Sox plan as 'corporate welfare' | |||||
BOSTON -- To raise money for a new Fenway Park, the team is
considering selling an asset as venerable as the towering green
wall -- the stadium name.
"I recognize that many fans care deeply about their season
tickets and about the name of the ballpark," Red Sox chief
executive officer John Harrington said. "But we do not think we
can ask for the first public dollar until we have shown our
willingness to consider every possible private dollar."
The Red Sox disclosed their $627 million proposal a year ago.
The team is preparing to ask taxpayers for as much as $275 million
to help purchase land and to build a parking garage.
The team is planning to spend $352 million of its own money on
the 41,130-seat stadium.
Boston Mayor Thomas Menino said he is not yet ready to recommend
the city invest in the ballpark.
"I'm not going to risk mortgaging the city's future," he said.
"I want to make sure whatever I invest in the Red Sox comes back
to the city. I can't stop building schools and fixing
playgrounds."
Critics have called the plan "corporate welfare," saying it
would destroy parts of Boston's Fenway neighborhood.
"This is a wholly inappropriate use of taxpayer dollars," said
Rob Sargent of the Massachusetts Public Interest Research Group.
"Poll after poll shows the public is overwhelmingly opposed to
subsidies for stadiums."
The team's neighbors will suffer the most, according to Carl
Koechlin, executive director of Fenway Community Development
Corporation.
"The Fenway community is paying for this twice," he said.
"First with our tax dollars and then with an erosion of our
quality of life."
Harrington urged elected officials on Beacon Hill and at City
Hall to act swiftly. The team wants the state to kick in $135
million and the city another $140 million.
"This legislative session may be the last chance to build this
in the way we want it built," Harrington said.
The announcement comes 10 weeks before the end of the
legislative session. Harrington said, higher interest rates and
construction costs could drive up the price tag.
The team has lobbied heavily for the project and met last week
with Gov. Paul Cellucci. The governor backs the project, an aide
said.
Harrington pointed to the deal struck last year to use taxpayer
money to help finance a new Foxboro Stadium for the New England
Patriots.
The team hopes to raise about $128 million in naming rights,
$140 million from ticket sales, TV rights and parking revenue and
$82 million from new club seats.
| ALSO SEE Gammons: Fenway folly |