Tuesday, December 21, 2004

Linda caved...

Thought so. Probably shoulda posted a follow-up. but anyway...

Once baseball started to make softer, "let's work this out" overtures, I figured a deal could get done, but didn't post that thought. I guess I preferred to wait-and-see how it turned out.

The original deal stands. Here are the changes: D.C. will seek, but not require, partial private financing. Major League Baseball (MLB) agreed to waive the $19 Million/year penalty for delays, accepting waiving the new stadium's rental fee ($5.3 Million/year) instead. They also agreed to split the cost of cost-overrun insurance (man, you can insure anything these days).

The dynamic, in retrospect, was simple: both sides realized, after a suitable round of posturing, that they both needed the deal. Linda Cropp didn't want to go down as the Woman Who Drove Away Baseball. MLB, having cast it's lot with D.C., destroyed it's leverage with other cities. Hence, they weren't going to get anywhere near the sweetheart deal that D.C. could (and did) give them. So, she backed off the (deal-breaking) private financing requirement, and MLB agreed to waive certain cost-overrun protections, as well as accept private financing, if it can be arranged.

Everybody claims victory. How very D.C. And we get to pay for it. Oh goodie, oh joy. And as for me, I'm thinking Baseline Lower Reserved...

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