the cardinals new nest

The St. Louis Cardinals finally revealed the secret investors behind the hidden share of their $387.5 million dollar stadium plans, and it just so happens to be the team themselves. They were obviously unable to find someone who wanted to buy a baseball team, but can you blame them. the Cardinals decided to give up $30 million more for the new stadium, yet selling $200 million in private bonds to pay for the rest of the stadium

So the total cost breakdown will be as listed:

• $42.7 million from the state to pay for the inside of the building and the demolitionandto remake an interstate ramp;



• $3.4 million yearly for eliminating the city ticket tax, which the should get $42.9 million worth of bonds back;



• $90 million from the Cardinals;



• $200.5 million in private bonds, to be paid back by the team at $15.9 million a year;



• a $45 million loan from the county, to be repaid with interest. But the Cards can instead choose to simply hand over the stadium after 30 years, which they Most likely will.

So while public funds are involved the public money is covering between one quarter and one third of the construction cost, the new St. Louis stadium is still being funded mostly by priavte dollars which is the second highest amount of private money. it left the Cardinals in the hole the team is going to have $12.5 million left over in payments , and the need to regain another $90 million. the Cardinals are one of the teams with the most profit potenital in the majors they are going to need all the help they can get to make the money back. but down the road lets see if how the teamcan recover from this financial hit, But we all know the city loses every time