NYC Mayor Rudolph Giuliani "is close to backing a
baseball-only stadium for the Yankees on the West Side of
Manhattan," according to Madden & Feiden of the N.Y DAILY
NEWS. The proposal is "part of a two-pronged effort" which
would also get a new stadium for the Mets. Mets Owner Fred
Wilpon said that the plan calls for a "multi-purpose stadium
that could be converted for hockey, basketball, track and
field and other events." Madden and Feiden wrote that NYC
officials said that the city "will push" the state to
"create a stadium financing authority or a sports authority
to sell tax-exempt bonds." NYC officials estimate that a
Manhattan stadium for the Yankees would cost between $600M
and $700M, while a new Mets park in Queens would run $500M
to $600M (Madden & Feiden, N.Y. DAILY NEWS, 4/19).
MAKING THEIR CASES: Mayor Giuliani "suggested that he
and his aides had already prepared a plan that would be 'a
real surprise' when it is revealed within a week or so."
Giuliani said that the plan "will not involve any new taxes"
and "will not involve anywhere near the kind of financing
cost that people think" (N.Y. TIMES, 4/20). But NYC
Council Speaker Peter Vallone told the N.Y. POST that he
"would checkmate Mayor Giuliani by creating a referendum
aimed at blocking the Yankees from leaving the Bronx" (N.Y.
POST, 4/20). On his call-in radio show on WABC-AM, Mayor
Giuliani said that taxpayers "could be spared" some of the
cost by selling the ballparks' naming rights. Mets
VP/Business & Legal Affairs David Howard said that the team
has "already begun discussions" with possible sponsors.
Yankees Owner George Steinbrenner said that while he
"favors" corporation naming rights, he "still wants the new
name to include Yankee" (N.Y. DAILY NEWS, 4/18).
