It’s been a banner day for corporate welfare in the commonwealth, as the governor’s office, via press release, announced that the woeful Washington Redskins have decided to keep their corporate headquarters in Virginia, and will even stage some summer practices in Richmond. Just how much money did Dan Snyder take the commonwealth’s taxpayers for? After the obligatory throat-clearing from local pols and the cash award winners, we learn:
Governor McDonnell approved a $4 million performance-based grant to support the retention and expansion.
Ah, it’s a “performance-based grant.” One assumes said performance isn’t tied to the team’s win-loss record. Though if it is, we’re likely to get all that money back and then some.
It’s also a far cry from the days of Jack Kent Cooke, who build the new Redskins stadium in Maryland through private financing.
[Continue reading Norman Leahy’s post at Bearing Drift.]
Norman Leahy blogs at Bearing Drift. The Local Blog Network is a group of bloggers from around the D.C. region who have agreed to make regular contributions to All Opinions Are Local.