Total Cost: $268m
Loan: $150m
Team Payment: $118m
Payment Plan:
$25m per season for 6 yrs
"Based on Boston's revemue even without the new
stadium, we should be able to swing the $25m per relatively easily. Our profits
for the last 4 seasons have been $37m, $73m, $82m, and $72m. We will probably
try to pay this off earlier than planned, but the 6 year term will give us some
flexibility."
Commisioner FGM had this to say about the Red SOx request "Given the fact that Boston has absolutely no financial need
whatsoever and has demonstrated no such need, I will not support any loan for
funding a new stadium for the Boston Red Sox. In fact, Boston provided evidence
that they are doing quite well financially given $70+ million profits each of
the past three seasons. Also Boston has over $150 million in cash on hand. All
these factors show me that Boston has no financial need whatsoever."
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