January 25, 20242 yr 1 hour ago, Dick Allen said: Does anyone really think things have changed? I do. I believe that many people, like yourself, learned from the previous deal and there will be more resistance.
January 25, 20242 yr Since “big, modern thinking”, “private funding”, and “Jerry Reinsdorf” typically aren’t used in the same conversation, I’ve been trying figure the motive behind this. I know zip about estate law, but there’s been a lot of discussion (including from JR himself) about how he does/doesn’t want to pass things on to his kids. Is there any estate benefits to putting his money into this?
January 25, 20242 yr 11 minutes ago, RTC said: Since “big, modern thinking”, “private funding”, and “Jerry Reinsdorf” typically aren’t used in the same conversation, I’ve been trying figure the motive behind this. I know zip about estate law, but there’s been a lot of discussion (including from JR himself) about how he does/doesn’t want to pass things on to his kids. Is there any estate benefits to putting his money into this? Yes. I mentioned this already in another thread. Typically, just the announcement of an agreement to build a new sports stadium will increase the value of a franchise. Months after the approval of a new Tennessee Titans stadium to be completed in 2027, the franchise’s value rose by 26% to $4.4 billion dollars. So JR could just be trying to raise the value of the Sox prior to a sale, and it’s possible that neither he nor his kids end up footing the entire bill for the eventual new ballpark, as the new owner(s) could be on the hook for it instead. Edited January 25, 20242 yr by WhiteSox2023
January 25, 20242 yr https://chicago.suntimes.com/city-hall/2024/1/24/24049765/white-sox-new-stadium-south-loop-78-related-midwest-chicago-mayor-brandon-johnson
January 25, 20242 yr 2 hours ago, RTC said: Since “big, modern thinking”, “private funding”, and “Jerry Reinsdorf” typically aren’t used in the same conversation, I’ve been trying figure the motive behind this. I know zip about estate law, but there’s been a lot of discussion (including from JR himself) about how he does/doesn’t want to pass things on to his kids. Is there any estate benefits to putting his money into this? The White Sox successfully renovating this site and having the real estate rights to the rest of the property, primed for development, would be worth an additional hundreds of millions of dollars on a sale.
January 25, 20242 yr 13 minutes ago, Balta1701 said: The White Sox successfully renovating this site and having the real estate rights to the rest of the property, primed for development, would be worth an additional hundreds of millions of dollars on a sale. Depending how much money they get from the government for free, there will probably be a clause like there was for the Bears when Soldier Field was rehabbed that the team couldn't be sold for X amount of years after the build was done.
January 25, 20242 yr Author 17 minutes ago, Balta1701 said: The White Sox successfully renovating this site and having the real estate rights to the rest of the property, primed for development, would be worth an additional hundreds of millions of dollars on a sale. Honestly? I would be SHOCKED if those rights were a part of the team rights. Seems like something a real estate mogul would want to keep in the family.
January 25, 20242 yr 44 minutes ago, Dick Allen said: Depending how much money they get from the government for free, there will probably be a clause like there was for the Bears when Soldier Field was rehabbed that the team couldn't be sold for X amount of years after the build was done. One thing I find ironic is that two stadium projects in the 90s-early 00s were completely screwed up by the City, costing them hundreds of millions, and now they're sitting on proposal concepts for two amazing parks that fully fix every issue with the previous ones - other than the giant spaceship on the lake that they built. They suddenly have a way to do this correctly!
January 25, 20242 yr Just now, Balta1701 said: One thing I find ironic is that two stadium projects in the 90s-early 00s were completely screwed up by the City, costing them hundreds of millions, and now they're sitting on proposal concepts for two amazing parks that fully fix every issue with the previous ones - other than the giant spaceship on the lake that they built. They suddenly have a way to do this correctly! Correctly would be making the billionaires pay for it.
January 25, 20242 yr 1 hour ago, Dick Allen said: Correctly would be making the billionaires pay for it. Correctly would be in a way where they become good investments for the taxpayers.
January 25, 20242 yr 16 minutes ago, Balta1701 said: Correctly would be in a way where they become good investments for the taxpayers. That makes sense to me.
January 25, 20242 yr 1 hour ago, Dick Allen said: Correctly would be making the billionaires pay for it. The owners of the Rays and Vegas A's are paying millions of dollars towards their new stadiums. I would think that JR would have to give some money towards the new stadium for this proposal to get done.
January 25, 20242 yr 19 minutes ago, Balta1701 said: Correctly would be in a way where they become good investments for the taxpayers. Which, considering the amount of residents in IL, and in metro Chicago, the overwheming percentage will never even drive by this place, let alone use it. It benefits JR and his heirs, and probably the developer. BTW, the developer has been sitting on this land for 8 years with all kinds of things that were going to be built. Yet not one shovel in the ground yet. JR to save the day? I doubt it.
January 25, 20242 yr 7 minutes ago, WBWSF said: The owners of the Rays and Vegas A's are paying millions of dollars towards their new stadiums. I would think that JR would have to give some money towards the new stadium for this proposal to get done. The Rays are paying $600 million for a 1.3 billion project. Seems similar, hotels, apartments, restaurants. They will have a dome, but costs are higher here, plus no water lines or sewer lines or electric anywhere near, even if the ground is clean, it's going to be expensive. Word is the A's are having trouble getting financing, so who knows what happens there. JR might have lost his fastball, but he's nowhere near John Fisher bad. Edited January 25, 20242 yr by Dick Allen
January 25, 20242 yr 9 minutes ago, Dick Allen said: Which, considering the amount of residents in IL, and in metro Chicago, the overwheming percentage will never even drive by this place, let alone use it. It benefits JR and his heirs, and probably the developer. BTW, the developer has been sitting on this land for 8 years with all kinds of things that were going to be built. Yet not one shovel in the ground yet. JR to save the day? I doubt it. Has anything happened in the last 5 years that would affect the demand for office space and funds available to build more?
January 25, 20242 yr 4 hours ago, Lip Man 1 said: https://chicago.suntimes.com/city-hall/2024/1/24/24049765/white-sox-new-stadium-south-loop-78-related-midwest-chicago-mayor-brandon-johnson It’s not happening. And that’s the bottom line, cuz Stone Cold @tray said so!
January 25, 20242 yr 20 minutes ago, Balta1701 said: Has anything happened in the last 5 years that would affect the demand for office space and funds available to build more? They owned it for 4 years before anyone ever heard of Covid 19. And wouldn't you think office towers , at least multiple are kind of off the board now? It could be kind of similar to when the Sox moved into their current home. Several of the suites down the lines weren't completed until almost 20 years after the park opened. If the Sox somehow did build a park there, most of the 78 would be a construction or look like a desert probably for a similar length of time.
January 26, 20242 yr 23 hours ago, WhiteSox2023 said: Yes. I mentioned this already in another thread. Typically, just the announcement of an agreement to build a new sports stadium will increase the value of a franchise. Months after the approval of a new Tennessee Titans stadium to be completed in 2027, the franchise’s value rose by 26% to $4.4 billion dollars. So JR could just be trying to raise the value of the Sox prior to a sale, and it’s possible that neither he nor his kids end up footing the entire bill for the eventual new ballpark, as the new owner(s) could be on the hook for it instead. It's this. JR is going to own that land, sell the team before he has to pay much of anything, and cash out on the Sox. The 78 going through would be a move that Sox fans should be getting behind if you could read the tea leaves. And the other thing is, as I said before, this is further along than people want to realize. Sox are very much aware of what used to be on that land. They're aware of "the challenges" which any plot of land presents. And whoever said "Sox fans won't even drive past it", that couldn't be further from the truth. Roosevelt is already a major road in Chicago. That Target (which is literally across the street on Roosevelt is the most popular one in Chicago. There's a ton of foot traffic there as is due to bars, restaraunts, grocery stores, etc. I would venture to bet, that place would be visited (forget "driven past") way more than GRF due to location.
January 26, 20242 yr 18 hours ago, WBWSF said: The owners of the Rays and Vegas A's are paying millions of dollars towards their new stadiums. I would think that JR would have to give some money towards the new stadium for this proposal to get done. Why do you keep fluffing the A's when we don't have their stadium info or funding plan? It's tough with blue checkmarks meaning nothing anymore, but Merkin follows this account: They might not even have their proposed site anymore.
January 26, 20242 yr 26 minutes ago, Quin said: Why do you keep fluffing the A's when we don't have their stadium info or funding plan? It's tough with blue checkmarks meaning nothing anymore, but Merkin follows this account: They might not even have their proposed site anymore. When the A's announced they were moving to Vegas they said they would pay millions towards the new stadium. If that has changed I don't know.
January 26, 20242 yr 31 minutes ago, WBWSF said: When the A's announced they were moving to Vegas they said they would pay millions towards the new stadium. If that has changed I don't know. I think the key point is "don't tell me - show me you're paying millions toward a new stadium."
January 26, 20242 yr 1 hour ago, Quin said: Why do you keep fluffing the A's when we don't have their stadium info or funding plan? It's tough with blue checkmarks meaning nothing anymore, but Merkin follows this account: They might not even have their proposed site anymore. Las Vegas unions blocked the much larger and profitable Wild Wild Wild landsite across I-15, which would have enabled a large real estate development. They barely pushed this weaker deal through the Nevada legislature. The approved land is abutted by McCarran Airport and two main arteries (Las Vegas Boulevard and Tropicana), is very small, and there isn’t a lot of flexibility to alter. They play without a dome in Summerlin for their AAA team, but not sure MLB would sign off on those conditions for so called (with Fisher involved) Major League games. I personally hope Nevada and Clark County are able to get out of the deal, as MLB is forcing John Fisher to not sell as part of their approval, and no city or fan base including my beloved Las Vegas deserves his product. It’s bad enough they got Mark Davis, though he has won two rings with his lesser known franchise with Tom Brady holding a minority stake. They hold the highest WNBA attendance at 9,551, which might beat the White Sox and is also more the the Hawks deserve.
January 26, 20242 yr 51 minutes ago, WBWSF said: When the A's announced they were moving to Vegas they said they would pay millions towards the new stadium. If that has changed I don't know. Notable truth teller John Fischer also said he'd build a "100 percent" privately funded stadium in Oakland, with renderings, in 2018. https://www.sfchronicle.com/bayarea/matier-ross/article/A-s-propose-jewel-box-ballpark-for-13426272.php
January 26, 20242 yr 2 minutes ago, Quin said: Notable truth teller John Fischer also said he'd build a "100 percent" privately funded stadium in Oakland, with renderings, in 2018. https://www.sfchronicle.com/bayarea/matier-ross/article/A-s-propose-jewel-box-ballpark-for-13426272.php Fucking John Fischer. What could have been...
January 26, 20242 yr 2 hours ago, nitetrain8601 said: It's this. JR is going to own that land, sell the team before he has to pay much of anything, and cash out on the Sox. The 78 going through would be a move that Sox fans should be getting behind if you could read the tea leaves. And the other thing is, as I said before, this is further along than people want to realize. Sox are very much aware of what used to be on that land. They're aware of "the challenges" which any plot of land presents. And whoever said "Sox fans won't even drive past it", that couldn't be further from the truth. Roosevelt is already a major road in Chicago. That Target (which is literally across the street on Roosevelt is the most popular one in Chicago. There's a ton of foot traffic there as is due to bars, restaurants, grocery stores, etc. I would venture to bet, that place would be visited (forget "driven past") way more than GRF due to location. Sounds like a potentially great setting for our new downtown team. I don't think they will miss Bridgeport too badly.
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