LAT: Angels owner Arte Moreno expected to reveal Big A development plan this month

[jsnpritchett]

2 hours ago, Ace-Of-Diamonds said:

Any news on the plans for a new stadium? The month is nearly over.

My guess is that they won't announce anything until (if...) MLB resolves how to handle this season.  Would be a really bad look (especially after the heat they've already taken for furloughs/layoffs) to announce something like this, I'd imagine.

[Sully151]

3 hours ago, Ace-Of-Diamonds said:

Any news on the plans for a new stadium? The month is nearly over.

I heard he furloughed everyone involved.

[ScottT]

What does this have to do with furloughs?

If he goes ahead with things, (renovation or new stadium), isnt he creating jobs? 

[eaterfan]

10 hours ago, ScottT said:

What does this have to do with furloughs?

If he goes ahead with things, (renovation or new stadium), isnt he creating jobs? 

If you don't have enough money to pay your current employees a rounding error on these development costs it's probably not a great sign for the quality of the development being built. 

Let's just assume the total cost of the employees saved is $10 million and the development costs $1 billion. I think I'm being very generous to Arte on both counts as Keith Law estimates the Orioles would save $4,000,000 for doing the same thing as the Angels. The development for the Rams new stadium is at $5 billion (just the stadium, not the surrounding area). The Angels stadium and development won't be close to that, but $2 billion combined seems reasonable.

Even going with the kindest possible figure to Arte, he saved 1% of the development costs. He should be able to afford to do both things. If he can't it's bad because it might never get done if there are any cost overruns or it will be poorly done. If he can afford to do both and chooses not to it makes him look cheap and greedy. It's not paying your house cleaner for the rest of the year claiming you can't afford it and buying a $5 million house a month later.

Not only that, if you want to argue it's better for the employees because they can collect social welfare so furloughing the employees isn't that bad, then Arte, a man with a net worth of $3.1 billion, is using the taxpayers to help subsidize this development which will further add to his net worth rather than spend 1/3 of a percent of his net worth. This in addition to the sweet deal he got on the land from the taxpayers of Anaheim. 

It's totally within his rights to do all these things. But it's within my rights to think he's cheap and greedy. It also makes me not believe him when he says he's doing whatever he can to win. He's taking resources that are used to make the team on the field better and devoting them to adding to his bottom line. It also makes me not believe him when he says he can't afford to take a loss this season and needs to cut the players salaries. Either cash is super tight or it's not. (It's not). 

[Claude]

7 minutes ago, eaterfan said:

If you don't have enough money to pay your current employees a rounding error on these development costs it's probably not a great sign for the quality of the development being built. 

Let's just assume the total cost of the employees saved is $10 million and the development costs $1 billion. I think I'm being very generous to Arte on both counts as Keith Law estimates the Orioles would save $4,000,000 for doing the same thing as the Angels. The development for the Rams new stadium is at $5 billion (just the stadium, not the surrounding area). The Angels stadium and development won't be close to that, but $2 billion combined seems reasonable.

Even going with the kindest possible figure to Arte, he saved 1% of the development costs. He should be able to afford to do both things. If he can't it's bad because it might never get done if there are any cost overruns or it will be poorly done. If he can afford to do both and chooses not to it makes him look cheap and greedy. It's not paying your house cleaner for the rest of the year claiming you can't afford it and buying a $5 million house a month later.

Arte is not going to do anything that puts him in debt. A brand new stadium will cost about $4B - $5B which is worth more than the team and his total net worth. 
I think the stadium is going to remain pretty much the same for quite a few more years. The area surrounding the stadium will be developed with investors way before a new stadium is considered. 

[ScottT]

I didnt think anything would happen with the stadium before all of this.

I don't understand how it makes sense for him to continue to paying people that arent doing anything. How long is sufficient? 6 months? A year? 

[Claude]

1 hour ago, ScottT said:

I didnt think anything would happen with the stadium before all of this.

I don't understand how it makes sense for him to continue to paying people that arent doing anything. How long is sufficient? 6 months? A year? 

2 weeks severance like many small companies do. 

[ScottT]

I didnt think anything would happen soon that is

Some small to mid size companies gave zilch.

[jsnpritchett]

"That date would be extended to June 29, but the deadline for Moreno to walk away from the project would remain Sept. 30. Angels spokeswoman Marie Garvey said project planning has been slowed as consulting firms have transitioned to work-from-home settings and limited face-to-face meetings.

The site is 1½ times the size of Disneyland. According to a study Moreno commissioned before the sale to evaluate potential development opportunities, more than 4,000 apartments and 700 condominiums could be built on the site, plus a hotel with more than 900 rooms and offices that would employ 15,000 workers.

The study also envisioned full-service and fast-casual restaurants, a beer garden and wine bar, a grocery and drug store, merchandise retailers, fitness and recreational centers and social spaces. The total project was estimated to cost $3.4 billion, with development in stages through 2050 and eventually covering 1.1 million square feet."

[tdawg87]

What about a Kohl's?

[greginpsca]

I cringe to think about the traffic there when it is all done.  BTW, if Arte backs out from the deal by Sept, can the city sell to developers and leave the team without a stadium?

[Ace-Of-Diamonds]

12 hours ago, RendZone said:

Arte is not going to do anything that puts him in debt. A brand new stadium will cost about $4B - $5B which is worth more than the team and his total net worth. 
I think the stadium is going to remain pretty much the same for quite a few more years. The area surrounding the stadium will be developed with investors way before a new stadium is considered. 

I think you're over estimating the cost of the stadium. The Rams stadium cost $5B and they are a year behind schedule because of poor weather. They had planned to begin playing there for the 2019 season. This put them way over budget and the lost revenue from lost ticket sales last year and possibly playing in empty stadiums this is not helping.

Sofi park is much larger and expensive than a new Angel Stadium will be.

[tdawg87]

4 hours ago, greginpsca said:

I cringe to think about the traffic there when it is all done.  BTW, if Arte backs out from the deal by Sept, can the city sell to developers and leave the team without a stadium?

Should add a connection to the subway station.

Btw I have no fucking clue where the nearest subway station is from Angels Stadium.

But I think the hope would be that 40-50% of the people at the game will go home, while the rest stick around to drink and get food. Better than having everyone trying to leave at once.

[Claude]

13 minutes ago, Ace-Of-Diamonds said:

I think you're over estimating the cost of the stadium. The Rams stadium cost $5B and they are a year behind schedule because of poor weather. They had planned to begin playing there for the 2019 season. This put them way over budget and the lost revenue from lost ticket sales last year and possibly playing in empty stadiums this is not helping.

Sofi park is much larger and expensive than a new Angel Stadium will be.

The new Yankees stadium cost $2.3B back in 2009. There is nothing noteworthy surrounding that stadium. If Arte plans on building a new stadium he’s definitely going to want it to be an attraction for fans that travel to Anaheim for Disney and baseball. He’s competing with the Dodgers in the Los Angeles market so it will have to be a very nice stadium. We hosted the 2010 All Star Game and the existing stadium was an embarrassment.

Edited May 30, 2020 by RendZone

[Claude]

8 minutes ago, tdawg87 said:

Should add a connection to the subway station.

Btw I have no fucking clue where the nearest subway station is from Angels Stadium.

But I think the hope would be that 40-50% of the people at the game will go home, while the rest stick around to drink and get food. Better than having everyone trying to leave at once.

This is a very valid point. I remember when the Olympic Stadium in Montreal had their subway system stop underneath the stadium. Great transit system with easy access. 

[Dollar Bill]

5 hours ago, greginpsca said:

BTW, if Arte backs out from the deal by Sept, can the city sell to developers and leave the team without a stadium?

No. If the deal falls apart, the Angels' current lease remains in effect, meaning the team is bound to the stadium through 2029, with options through 2038.

[Ace-Of-Diamonds]

2 hours ago, tdawg87 said:

Should add a connection to the subway station.

Btw I have no fucking clue where the nearest subway station is from Angels Stadium.

But I think the hope would be that 40-50% of the people at the game will go home, while the rest stick around to drink and get food. Better than having everyone trying to leave at once.

Downtown LA is nearest Subway, ~35 miles away. Amtrak runs to the stadium above ground already.

[Ace-Of-Diamonds]

2 hours ago, RendZone said:

The new Yankees stadium cost $2.3B back in 2009. There is nothing noteworthy surrounding that stadium. If Arte plans on building a new stadium he’s definitely going to want it to be an attraction for fans that travel to Anaheim for Disney and baseball. He’s competing with the Dodgers in the Los Angeles market so it will have to be a very nice stadium. We hosted the 2010 All Star Game and the existing stadium was an embarrassment.

The new Globe Life Field will come in at a cost of $1.2 billion, including $2.5 million for an artificial turf playing surface, Matwick said, all subsidized by the Rangers. The current ballpark cost $191 million, complete with an office building beyond the outfield berm.Apr 10, 2019

**************

That comes with retractable roof.

Yankee stadium has 54,251 seat capacity, way more than Arte needs.

Edited May 30, 2020 by Ace-Of-Diamonds

[Ace-Of-Diamonds]

Angels owner asks Anaheim for extra time to deliver stadium development plan

https://www.latimes.com/sports/angels/story/2020-05-29/angels-anaheim-arte-moreno-stadium-development-extra-time

Angels owner Arte Moreno on Friday asked the city of Anaheim for an additional 30 days to explain precisely how he would like to develop the Angel Stadium property.

His family-owned management company had committed to deliver a plan for the 153-acre site no later than Saturday. Mike Lyster, the spokesman for the city, said the city manager could approve the request as a “non-substantive” change to the sale agreement, with no City Council vote required.

[Lou]

16 minutes ago, Ace-Of-Diamonds said:

Angels owner asks Anaheim for extra time to deliver stadium development plan

https://www.latimes.com/sports/angels/story/2020-05-29/angels-anaheim-arte-moreno-stadium-development-extra-time

Angels owner Arte Moreno on Friday asked the city of Anaheim for an additional 30 days to explain precisely how he would like to develop the Angel Stadium property.

His family-owned management company had committed to deliver a plan for the 153-acre site no later than Saturday. Mike Lyster, the spokesman for the city, said the city manager could approve the request as a “non-substantive” change to the sale agreement, with no City Council vote required.

Cue faux AW outrage

[Stradling]

4 hours ago, Lou said:

Cue faux Canadian outrage

 

[Tank]

On 5/29/2020 at 3:38 PM, jsnpritchett said:

"That date would be extended to June 29, but the deadline for Moreno to walk away from the project would remain Sept. 30. Angels spokeswoman Marie Garvey said project planning has been slowed as consulting firms have transitioned to work-from-home settings and limited face-to-face meetings.

The site is 1½ times the size of Disneyland. According to a study Moreno commissioned before the sale to evaluate potential development opportunities, more than 4,000 apartments and 700 condominiums could be built on the site, plus a hotel with more than 900 rooms and offices that would employ 15,000 workers.

The study also envisioned full-service and fast-casual restaurants, a beer garden and wine bar, a grocery and drug store, merchandise retailers, fitness and recreational centers and social spaces. The total project was estimated to cost $3.4 billion, with development in stages through 2050 and eventually covering 1.1 million square feet."

Where in the world are we supposed to park?

[Ace-Of-Diamonds]

5 hours ago, Tank said:

Where in the world are we supposed to park?

eventually in a parking structure

[Tank]

6 hours ago, Ace-Of-Diamonds said:

eventually in a parking structure

oh yay. that will be all kinds of fun after a game ends, with 20k of all trying to leave at the same time.

[Lou]

20 minutes ago, Tank said:

oh yay. that will be all kinds of fun after a game ends, with 20k of all trying to leave at the same time.

My driver picks me up after the 7th inning.