Newspaper embraces tax subsidized stadium plan

The reader of today’s Las Vegas newspaper can be excused for being a bit confused about the differences between a front page story and the paper’s editorial.

The front page outlines plans for financing a new $1.2 billion stadium near UNLV — with $780 million coming from tax money and $420 million from private investors, according to documentation from Las Vegas Sands Corp., which is owned largely by billionaire Sheldon Adelson, who happens to also own the morning newspaper now.

On the editorial page — which has in the past urged extreme caution about plowing public funding into any stadium, whether for the minor league baseball team or for soccer downtown or for UNLV football — caution was thrown to the wind.

The editorial unabashedly declares, “Las Vegas desperately needs a new stadium.”

In print the editorial states that the “Adelson family would contribute an unspecified large portion of the financing for the stadium.”

Online it states that the “Adelson family would contribute an undisclosed share of about $420 million in private financing for the stadium” — a little ham-fisted updating was apparently going on, since only a third is hardly a large portion and $420 million hardly undisclosed.

Both conclude, “This stadium is an urgent need, and a better offer might never come along.”

Looks like Adelson has taken the wheel of this editorial page. It is his, he can drive it anywhere he wishes.

But asking the taxpayers to put gas in the tank is a bit much.

Stadium rendering courtesy of Las Vegas Sands via R-J.

 

 

 

 

 

 

 

 

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6 comments on “Newspaper embraces tax subsidized stadium plan

  1. Adelson doesn’t need OUR money to build his new play pen. He is the billionaire…let his consortium of rich associates build this stadium…or forget about it! NO new taxes for a stadium…period!!!

  2. Patrick says:

    Is it even possible that this was the primary reason he bought the RJ?

    I mean, coming so soon afterwards it makes you wonder.

  3. Steve says:

    Robert Kraft is doing great with Gillette Stadium….one hundred percent privately funded and eminently successful.

    Sheldon should emulate Robert Kraft and pay for the whole thing out his own pocket and whatever private funding he can attract, they said Ste Wynn is interested.

    Those two would be helping UNLV by building the stadium and hosting the Rebels in it. That way at least 65,000 empty seats can watch them lose games!

  4. Tony says:

    It’s raining in the desert, and the R-J loves committing $750M for a stadium. When did we wake up in the parallel universe?

  5. […] do seem to recall a recent editorial praising the use of public money to build a stadium backed by the paper’s new owner Sheldon Adelson. […]

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