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Talk about subsidies...

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12-06-2004, 03:02 PM
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Fletch
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Talk about subsidies...

we've often talked about the differences in having a team in the U.S. and Canada (U.S. gives breaks, Canada taxes the teams). Well, the Post outlined the Rangers' tax breaks which go back to the early 80s when Gulf + Western owned the team. Prior to the Devils coming to Jersey, the Rangers were threatened to move there - in the new, lovely Brendan Byrne Arena. To keep them there, the City gave the garden breaks on property taxes and electricity. The electricity bill that is subsidized is approximately $1 million per year - or in other words, it's implied that us U.S. Con Edison customers pay $0.33 each per year to have the Garden here. Additionally, they save $10-11 million in property taxes. It's not so bad doing business in New York.

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