Spending Cap Document Released
The city council has released the four-page Stadium Cap amendment passed in the wee hours on Tuesday night. A 4:00 pm Post story about the release says that as of early today, baseball officials said they had not seen the legislation; don't know if that has changed. UPDATE, 5:55 pm: An AP wire story says that MLB has now received the documents, but that they will not issue a response until Friday, at the earliest. But who knows, someone might whisper to someone, and we'll hear about it sooner. UPDATE, 10: 55 pm: The print version of the Post's story is now available, now including some choice words from Bud Selig: " 'When it comes to demagoguery, a lot of what happened down there would have made Huey Long blush.' " UPDATE, 2:20 am: And here is the WashTimes story, " MLB Receives Stadium Lease Papers." On the issue of a new team owner perhaps being on the hook for cost overruns: "Last year, MLB accepted bids from eight groups for the team, and settled on a $450 million sale price based on terms that included a ballpark fully financed by the city. If MLB accepts the cap legislation, it might then ask bidders if they would still meet that price, even if they are vulnerable to being responsible for cost overruns. 'This might knock that [$450 million] price right out the window,' said one bidder."
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