De Blasio says Madison Square Garden, other NYC sports venues should pay more taxes

New York City Mayor Bill de Blasio said Monday that he supports calls to compel the owners of local sports stadiums, including Madison Square Garden and Yankee Stadium, to pay more taxes to aid the city’s bid to bounce back from the coronavirus pandemic.

De Blasio, a Democrat, was asked at his daily press briefing to respond to a letter last month from nine lawmakers on the New York City Council who called for the Garden, Yankee Stadium, the Barclays Center and Citi Field to pay property taxes. The mayor said he hasn’t seen the letter and was unfamiliar with the legal specifics, but supported the concept of requiring New York’s local teams to increase their contributions.

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“Let’s be clear – sports franchises have gained incredible value over the years,” de Blasio said. “They clearly have the resources. I think the history in this city and pretty much all over the country was stadium deals were not good deals for the public, by and large. Some of the more recent ones have been better, but mostly they haven’t been that good. Everything should be reevaluated especially at a point when the city is going to need resources for our recovery.”

Representatives for Madison Square Garden and Yankee Stadium could not immediately be reached for comment on de Blasio’s remarks.

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The letter from the New York City councilmembers included a specific call to end a tax break that has exempted Madison Square Garden from paying taxes since 1982. The lawmakers also want the city to renegotiate their Payment in Lieu of Taxes (PILOT) agreements with Yankee Stadium and other local venues to increase investments in their surrounding communities.

De Blasio said he also supports a local call to require the New York Yankees to pay fair market rent for their stadium to establish parity with local businesses. He called on the franchise to step up its efforts to support the Bronx during the pandemic.

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“Of course, they should support the neighborhood right around them. And that’s a neighborhood, you’re right, that has gone through a lot over the years and deserves that support,” de Blasio said in response to a question at the briefing. “The Yankees should be good neighbors, reach out to those businesses, see how they can provide them financial support in this tough time.”

De Blasio has faced criticism in recent days for his handling of the pandemic. A group of more than 160 local business leaders, including executives from Citigroup, Jet Blue and Con Edison, called last week for de Blasio to address “quality of life” issues that arose in New York City in recent months, including public safety and cleanliness.

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MSG, other NYC sports venues should pay more taxes

Madison Square Garden and other local sports stadiums and arenas should pay more taxes to help the city through its COVID-19 recovery, Mayor Bill de Blasio said Monday.

“I can say as a question of right and wrong what they’re saying is the right direction,” de Blasio commented at a City Hall press briefing when asked by a reporter about a recent letter from council members calling for the state legislature to repeal at 1982 tax break on the Garden.

The nine local lawmakers, led by Queens Democrat Costa Constantinides, also want the city to renegotiate payments from Yankee Stadium in the Bronx, Citi Field in Queens and the Barclay’s Center in Brooklyn.

“Back when I was public advocate I was talking about the fact that Madison Square Garden should be paying more in taxes,” said de Blasio, speaking of the position he held from 2010 through 2013 before becoming mayor.

“I think the history in this city and pretty much all over the country was stadium deals were not good deals for the public by and large some of the more recent ones have been better, but mostly they haven’t been that good and everything should be re-evaluated especially at a point where the city’s going to need resources for our recovery,” de Blasio said.

“So I think it’s time to look at all of that,” he added.

Both Constantinides and state Sen. Brad Hoylman applauded the mayor’s remarks.

“It’s great to hear the Mayor is open to having our arenas finally do their part and I hope he’ll engage with them about this,” Constantinides told The Post.

“If the Rangers can pay Artemi Panarin $81 million over seven years, they can surely help make sure we still have subways that get fans to the Garden to see him play,” he said.

“Yes lets pass @BrianKavanaghNY’s bill to repeal Madison Square Garden’s tax breaks and use that money to pay for schools and rent relief,” Hoylman tweeted Monday about legislation authored by his fellow Democratic state senator Brian Kavanagh. 

De Blasio was also asked about a second recent letter from Cary Goodman, head of the local Business Improvement District near Yankee Stadium. Goodman asked de Blasio to renegotiate a sweetheart lease granted by former Mayor Michael Bloomberg that charges just $1 per year for rent on public land.

Goodman proposed requiring the Yankees to pay the same as local businesses — between $60 to $120 per square foot or $100 million a year for the stadium’s 1.3 million square feet.

The area mom and pop shops are struggling to survive without fans attending games, Goodman said.

“We all hope and pray that next year baseball will resume in person at some point in the year and the fans will come back and the businesses will thrive, but of course the Yankees should help them through and I assure you they have the money,” de Blasio said.

Reps for MSG and the Yankees did not immediately respond to requests for

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Interior excellence allows Saint Joseph to upend Adams | Sports

SOUTH BEND — Toiling in the trenches on both sides of the football for the better part of four quarters, South Bend Saint Joseph two-way lineman Michael Conery should’ve walked away Friday covered in mud and grass and maybe even a bit of blood.

Instead, after running around on the synthetic surface that is Father Bly Field, Conery settled for a whole lot of sweat. Oh, and a smile. On Senior Night. In September.

Conery and the Indians controlled the line of scrimmage when the game was there for the taking, which allowed Saint Joseph to take it. The Indians put together a big-time scoring drive when a big-time scoring drive was needed, then followed with a big-time defensive stop to even their record at 2-2 and win their Northern Indian Conference North Division opener, 21-14.

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Is Madison Square Garden Sports Corp. (MSGS) A Good Stock To Buy?

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds’ and investors’ portfolio positions as of June 30th, when the S&P 500 Index was trading around the 3100 level. Stocks kept going up since then. In this article we look at how hedge funds traded Madison Square Garden Sports Corp. (NYSE:MSGS) and determine whether the smart money was really smart about this stock.

Is Madison Square Garden Sports Corp. (NYSE:MSGS) the right investment to pursue these days? Investors who are in the know were in a bullish mood. The number of long hedge fund bets moved up by 2 recently. Madison Square Garden Sports Corp. (NYSE:MSGS) was in 43 hedge funds’ portfolios at the end of June. The all time high for this statistics is 52. Our calculations also showed that MSGS isn’t among the 30 most popular stocks among hedge funds (click for Q2 rankings and see the video for a quick look at the top 5 stocks). Video: Watch our video about the top 5 most popular hedge fund stocks.

In the eyes of most stock holders, hedge funds are assumed to be unimportant, outdated investment tools of the past. While there are greater than 8000 funds trading today, We choose to focus on the upper echelon of this group, approximately 850 funds. These investment experts watch over most of all hedge funds’ total asset base, and by keeping track of their best picks, Insider Monkey has uncovered a number of investment strategies that have historically outrun the market. Insider Monkey’s flagship short hedge fund strategy exceeded the S&P 500 short ETFs by around 20 percentage points per annum since its inception in March 2017. Our portfolio of short stocks lost 34% since February 2017 (through August 17th) even though the market was up 53% during the same period. We just shared a list of 8 short targets in our latest quarterly update .

Clifton Robbins Blue Harbour

Clifton S. Robbins of Blue Harbour Group

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, legal marijuana is one of the fastest growing industries right now, so we are checking out stock pitches like “the Starbucks of cannabis” to identify the next tenbagger. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. Hedge fund sentiment towards Tesla reached its all time high at the end of 2019 and Tesla

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Sports-Themed Lighting Decor for NHL Hockey – The Favorite Amongst Sports Fans

Sports-themed lighting décor is the perfect home accent when you are decorating or redecorating your home. And as you, the NHL Hockey fan, there is no better way to show off your team spirit and loyalty than by proudly displaying sports-themed hockey lamps and lighting products throughout your house using these products which are functional, practical and trendsetting. With so many to choose fun, your entire family can get involved and decorate their room with their favorite team. They will bring families together by allowing you to come with a creative and fun way to add to and complement your home lighting décor.

NHL Hockey is an ever growing sport in both the United States and Canada. I think this sprouted from the intense games hockey games played in the Olympics. The Olympics opened our eyes to this great sport of hockey ant thus, the new found popularity of NHL Hockey. Hockey is a very competitive and taxing sport and what better way to show tribute to your favorite team than by proudly displaying your favorite team's colors, logos or mascots throughout your house. These products will provide that illuminating and glowing light to satisfy your everyday lighting needs.

Sports-themed NHL Hockey lamps and lighting accessories are perfect accent to any room in your house. You can choose from table, floor, wall, accent and ceramic lamps to accessories such as sports-themed night lights and light switch covers – whatever fits your home décor. You can mix and match to get that fresh look and feel whenever you feel that redecorating urge hit you.

Sports-themed NHL Hockey lighting décor is widely available today. You can choose from team décor for the Boston Bruins, Atlanta Thrashers, San Jose Sharks and Tampa Bay Lightning, just to name a few. In fact, they are available for almost every hockey team in the NHL so that you can mix and match you and your family's favorite team or teams.
So, in regards and with respect to hockey, sports themed lamps and lighting accessories can change the entire look and feel of your home by giving it that team and championship look and feel everyday and by providing you and others that motivation to work hard and do your best. These products will become conversational pieces and focal points for you, your family and your guests and something everyone can enjoy and use for a lifetime.

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