Really? Between Union Station and the ballpark they host more non-baseball events than people realize. The conference room spaces are quite nice.
It’s a ridiculously low rate to pay. As the article notes, that’s less rent than a McDonald’s. The other 2 teams here are in the 250M range for comparison.
The other teams use their arena far more. You would want to compare to other nfl teams. I just picked some random nfl teams and asked grok
So other NFL teams have ridiculous deals too? My taxpayer dollars should be obtaining more than 167K a year in rental income from a billion dollar tenant.
You are..... the texans use it like 9 days a year. Other people use it the other days and they pay too
You could rent this house for the same price https://www.har.com/homedetail/3406-greenbriar-dr-houston-tx-77098/8634567 It's a little lacking in sqft, though
Harris County is not generating enough income to cover the costs of the stadium, which is a problem. Part of that problem is related to it's largest tenant paying an immaterial amount of rent. And that tenant uses it for more than gamedays.
There are 32 NFL franchises. 31 of them carry a debt ranging from 1% to 44% of team value. Only 1 franchise is debt free. That same franchise ranks #4 in revenue and #12 in team value. Guess which one? If the McNair's want a new stadium, then they should pay for it. They can certainly afford it. Besides, Harris County bought the last one for them.
The Summit was designed as a multi-purpose stadium, in theory as the home of the Aeros and the Rockets. That 90s outdate coincided with team owners wanting dedicated facilities designed strictly for their needs. The era of joint use facilities and the hope of minimizing the hit on taxpayers has been replaced by seeing how much taxpayers will put up with before rebelling. Does anyone want to make the old arguments that the wealthy taxpayers are subsidizing the poorer taxpayers by providing them a home any longer. With ticket prices now a luxury item, it's quite the opposite. We're subsidizing entertainment for the rich.
