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Does Yankee stadium have a welfare program going on ?
asked Oct 20, 2010 by triuser (1,774 points)

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Michael Bloomberg, who succeeded Giuliani as mayor in 2002, called the former mayor's agreements "corporate welfare" and exercised the escape clause in the agreements to back out of both deals, saying that the city could not afford to build new stadiums for the Yankees and Mets. Bloomberg said that unbeknownst to him, Giuliani had inserted a clause in this deal which loosened the teams' leases with the city and would allow the Yankees and Mets to leave the city on 60 days' notice to find a new home elsewhere if the city backed out of the agreement. At the time, Bloomberg said that publicly funded stadiums were a poor investment. Under Bloomberg, the New York City government would only offer public financing for infrastructure improvements; the teams would have to pay for the stadium themselves.
answered Oct 21, 2010 by trianswer (22,754 points)