Cards new ballpark. - Fantasy Baseball Cafe 2014 Fantasy Baseball Cafe
100% Deposit Bonus for Cafe Members!

Return to St. Louis Cardinals

Cards new ballpark.

Moderator: Baseball Moderators

Cards new ballpark.

Postby Madison » Wed Dec 24, 2003 2:57 am

Cardinals finalize financing for $387.5 million ballpark

By CHERYL WITTENAUER, Associated Press Writer
December 23, 2003
ST. LOUIS (AP) -- The St. Louis Cardinals completed financing Tuesday for the new downtown ballpark it hopes to move into in April 2006.

Busch Stadium, which opened in 1966 and was home to two World Series championships and Mark McGwire's record setting 70th home run, will be demolished after the 2005 season. Work on the new $387.5 million ballpark began Monday, and the official groundbreaking is set for Jan. 17.

The new ballpark, to be built adjacent to the current stadium, will be owned by the Cardinals and financed with $200.5 million in private bonds, which the team must repay, $90.1 million in cash and loans obtained from the team's owners and a a $45 million loan from St. Louis County, $9.2 million in construction fund interest, $30.4 million in state tax credits and $12.3 from the Missouri Department of Transportation.

The Cardinals must pay about $15.9 million annually for 22 years to retire the bonds.

Crews removed trees and light posts in a parking lot south of Busch Stadium Monday and the Transportation Department set up a detour for motorists who use a highway ramp.

``When we purchased the Cardinals prior to the 1996 season we made a commitment to baseball's best fans that we would do what was necessary to enhance the proud tradition of success this great franchise has enjoyed for over 100 years,'' owner Bill Dewitt Jr. said.

``Today's announcement underscores our commitment to ensure the Cardinals remain a stable, winning franchise for years to come.''

The Coalition Against Public Funding for Stadiums, a local advocacy group that vigorously fought a failed deal with the city, county and Gov. Bob Holden to publicly fund a new stadium, said Tuesday it will continue its efforts to place an issue on the ballot in St. Louis County that would forbid spending tax money on a stadium subsidy.


Updated on Tuesday, Dec 23, 2003 6:37 pm EST

Yes doctor, I am sick.
Sick of those who are spineless.
Sick of those who feel self-entitled.
Sick of those who are hypocrites.
Yes doctor, an army is forming.
Yes doctor, there will be a war.
Yes doctor, there will be blood.....
Madison
Mod in Retirement
Mod in Retirement

User avatar
ExecutiveEditorCafeholicFantasy ExpertCafe WriterCafe RankerMock(ing) DrafterEagle EyeCafe SpotterInnovative MemberCafe MusketeerPick 3 ChampionMatchup Meltdown SurvivorLucky Ladders Weekly Winner
Posts: 53856
(Past Year: 1)
Joined: 29 Apr 2003
Home Cafe: Baseball
Location: Taking Souls...

Postby Pogotheostrich » Wed Dec 24, 2003 3:06 am

I'm so glad I don't go by there for work. :-)
Image
Pogotheostrich
Hall of Fame Hero
Hall of Fame Hero

User avatar
CafeholicFantasy ExpertCafe WriterMock(ing) DrafterEagle EyePick 3 Weekly WinnerLucky Ladders Weekly Winner
Posts: 21623
(Past Year: 337)
Joined: 9 Dec 2002
Home Cafe: Baseball
Location: St. Louis

Postby DieHardCubbie » Wed Dec 24, 2003 3:28 am

Good move by the city of St. Louis.... ;-D

``Today's announcement underscores our commitment to ensure the Cardinals remain a stable, winning franchise for years to come.''


:-? ...Milwaukee...Cleveland....Pittsburgh....are among the cities that have thought this.... :-b

but I do think it will work for the Cards.... ;-)
[b]Useless Trivia of the day[/b]

England's Worcester Canoe Club set the world record for paddling a hand-propelled bathtub. The 25 man team covered a distance of 55 miles, 425 yards in 24 hours on September 28 and 29, 1979.
DieHardCubbie
Hall of Fame Hero
Hall of Fame Hero

User avatar
Fantasy ExpertMock(ing) DrafterEagle EyeInnovative MemberPick 3 Weekly Winner
Posts: 13084
Joined: 13 Feb 2003
Home Cafe: Baseball
Location: floating around on the 3rd rock

Postby Padres19 » Wed Dec 24, 2003 3:41 am

There is nothing like a city getting a new stadium. The final year is amazing with all the former players coming back to visit, and boy do the Cards have plenty of guys that can come back. Anyways, congrats to the STL fans...hopefully nobody is crazy out there and forces 16 months of detours with 16 different lawsuits.
[list]Classic Jerry Colmanisms
[*]"Montreal leads Atlanta by three, 5-1."
[*]"They throw Winfield out at second, but he's safe."
[*]"Johnny Grubb slides into second with a standup double."[/list:u]
Padres19
Softball Supervisor
Softball Supervisor

User avatar

Posts: 87
Joined: 10 Oct 2003
Home Cafe: Baseball
Location: Friar Country

Postby bell » Wed Dec 24, 2003 3:49 am

Also nice to see the majority of it is privately financed.

Is it me, or does 2006 put a rather quick time frame on the building of the stadium?
bell
Major League Manager
Major League Manager

User avatar

Posts: 1694
Joined: 17 Mar 2003
Home Cafe: Baseball
Location: Stumbling along the AZ/WI border

Postby Madison » Wed Dec 24, 2003 2:40 pm

bell wrote:Is it me, or does 2006 put a rather quick time frame on the building of the stadium?


Amazing how fast things can be built when people actually work on the project, huh? :-B Lol. :-b
Yes doctor, I am sick.
Sick of those who are spineless.
Sick of those who feel self-entitled.
Sick of those who are hypocrites.
Yes doctor, an army is forming.
Yes doctor, there will be a war.
Yes doctor, there will be blood.....
Madison
Mod in Retirement
Mod in Retirement

User avatar
ExecutiveEditorCafeholicFantasy ExpertCafe WriterCafe RankerMock(ing) DrafterEagle EyeCafe SpotterInnovative MemberCafe MusketeerPick 3 ChampionMatchup Meltdown SurvivorLucky Ladders Weekly Winner
Posts: 53856
(Past Year: 1)
Joined: 29 Apr 2003
Home Cafe: Baseball
Location: Taking Souls...

Postby Walden warriors » Wed Dec 24, 2003 11:12 pm

Privately financed stadium = no political BS = efficient work schedule.
Does your league need a quality, outside review of your league rulebook? Does your league not have a written rulebook? Contact me! I can help.
Walden warriors
College Coach
College Coach

User avatar

Posts: 263
Joined: 14 Jan 2003
Home Cafe: Baseball
Location: The 608

Postby cards_fan_8537 » Fri Feb 06, 2004 5:31 pm

DieHardCubbie wrote:but I do think it will work for the Cards.... ;-)

The Cards have a pretty good following even without a new stadium. Hopefully it will only grow after this. ;-D
cards_fan_8537
College Coach
College Coach

User avatar

Posts: 215
Joined: 6 Feb 2004
Home Cafe: Baseball


Return to St. Louis Cardinals

Who is online

Users browsing this forum: No registered users and 0 guests

Forums Articles & Tips Sleepers Rankings Leagues


Today's Games
Tuesday, Oct. 21
(All times are EST, weather icons show forecast for game time)

San Francisco at Kansas City
(8:07 pm)

  • Fantasy Baseball
  • Article Submissions
  • Privacy Statement
  • Site Survey 
  • Contact