Okay, that headline, like all craigslist ads, is a little misleading, but it certainly brings us to a fact that may have slipped under the radar recently. There's a new kind of "revenue stream" this year for Mike Brown — he's now saving a bundle every year in rent, based on the stadium deal he signed in 2000.
This article from The Enquirer (now almost 9 years old) describes the stadium deal pretty perfectly in terms that now seem impossible to come by.
"The Bengals lease says the
team will pay rent of $1.7 million this year [2000]. The amount decreases by
$100,000 a year until it reaches $900,000 in 2008, a total of $11.7
million. Starting in 2009, the Bengals pay no rent.
Hamilton County will pay for year-round maintenance of the stadium, although the Bengals will manage the facility. That's estimated to cost the county more than $4 million this year [again, 2000], growing to $7.8 million in 2010."
So now, instead of spending an average of just over $1 million per year to play in PBS, the Bengals (read: Mike Brown) pay nothing. Not only that, Hamilton County has to pay the upkeep on the building on non-game days, which is roughly 357 days a year, not including playoffs (stifle involuntary laughter now).
The best part? Because Mike's not paying rent anymore, some local school children and taxpayers may be out of luck, according to Doc [Third item]. The "stadium rent" money represented a huge contribution to local school funding and property tax rebates.
"While MB and Family are under no legal obligation to do anything except cash checks and demand new lightbulbs, you'd think they might do something as a gesture of goodwill. No, actually, you wouldnt. Bad deal, all around."
Mike Brown. Taking candy from babies (and taxpayers) since 2000.
Shrewd and cold hearted businessman, that's all he is. unfortunatley, being a businessman has not meant he had to make a good product, just a product period. We the suckers of Cincinnati Sports Teams pledge to monetarily support teams regardless of their performance. How about supporting the Cats B-Ball team? Mick has recruited well and cares about the program, the same can obviously not be said for Mike. Let's create and hang on to a gruge against Mike that rivals the (asinine) one created for Nancy Zimpher and UC upon Huggin's departure. It would be more fruitful.
Posted by: CurseofBoJackson | July 23, 2009 at 02:02 PM
W O W
Posted by: Delta5243 | July 23, 2009 at 02:08 PM
Aint that America, land of greed.
Posted by: MikeBrownIsScum | July 23, 2009 at 08:56 PM
nice pic... Riverfront stadium represent.
Posted by: Brian | July 23, 2009 at 09:23 PM
I am shocked and appalled.
Posted by: Scott Ricketts | July 24, 2009 at 02:21 PM