Patriots Getting a Good Deal
A closer look at the $350-million stadium agreement between Hartford, Conn., and the New England Patriots shows just how good it is for the Patriots.
Contained in the memorandum of understanding--which grants Hartford the exclusive right to negotiate with the Patriots until the end of the year--are some extraordinary perks.
In addition to providing a new 68,000-seat stadium rent-free, the state promises to pay Patriot owner Robert Kraft as much as $175 million in cash over the first 10 years if he fails to sell out premium seats and luxury suites.
Connecticut would pay to construct new highway ramps and thousands of parking spaces to accommodate stadium traffic as well.
The state also is offering to pay all the costs of buying and cleaning the stadium site, which could run well over $70 million.
For the deal to go through, the state Legislature must approve it by Dec. 31.
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