The proposed $490 million, bond-funded arena project faces more hurdles, with Obama possibly ending the tax subsidy on bonds for sports venues and a report from the AECOM engineering firm that KeyArena can be renovated to NHL/NBA compliance for $285 million.
Inside sports business
President Barack Obama has again proposed ending the tax exemption on bonds used by cities and states to finance new sports venues.
If there’s a familiar ring to that item from Obama’s 2017 budget proposal, it’s because he tried the same measure last year. As with that, this effort has little chance of becoming law given intertwined interests of the sports industry and politicians from both political parties.