Re "Council clears path for stadium," Sept. 29
Robert Kraft, owner of the NFL's New England Patriots, tried to have a new football stadium built in Boston, Providence, R.I., and Hartford, Conn., with public and private financing. These plans fell through. Kraft paid all construction costs and built a stadium in Foxboro, Mass., that opened in 2002.
Cowboys Stadium in Arlington, Texas, cost $1.15 billion to build. Arlington's sales tax was raised by half a cent, its hotel tax was raised 2 percentage points and the car rental tax was raised by 5 percentage points. Arlington issued more than $325 million in bond financing, and the NFL loaned $150 million. Dallas Cowboys owner Jerry Jones covered the rest.
MetLife Stadium opened in 2010; its construction costs were financed by its two tenants, the New York Giants and the New York Jets.
The point: Owners build stadiums, and Los Angeles doesn't have an owner or a team.
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