Communities build sports complexes for many different reasons, but making money and creating jobs are always near the top of the list.
Lawmakers in Gilbert, Ariz., used bonds to pay for a projected $40 baseball complex built by "Big League Dreams." The project ended up costing $53 million, including interest. It seemed like a good idea at the time, but ABC 15 in Phoenix reports it will likely take centuries for Gilbert to get its money back.
The city expects to receive between $200,000 and $300,000 a year in revenue from the complex that includes eight replica fields and an indoor sports facility. That's all well and good, but Gilbert agreed to construct the ballfields in a deal for six percent of revenues. Whoops.
ABC 15 reports taxpayers likely won't break even for more than 250 years.
"I don't see a situation where this project will ever flow to the black," Gilbert town manager Patrick Banger told the TV station.
So check back in the year 2261 to see how things work out.
Big League Dreams features replicas of baseball stadiums such as Fenway Park, Yankee Stadium and Wrigley Field in states like California, Nevada and Texas -- in addition to Arizona.
Gilbert hasn't received a cent since the complex opened; there is some debate as to when city officials will start getting checks.
The mayor, town manager and entire city council who agreed to the deal are no longer in office.
