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Soccer Stadium Seen as Solution to Yankee Stadium Garage Woes

DEC 19, 2013 4:48pm ET

Holders of $238 million of defaulted bonds issued to build garages near Yankee Stadium have agreed to continue negotiations in the hopes of a soccer stadium at the site, according to bond documents.

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Comments (1)
I believe there is significant opposition in The Bronx as well to the idea of a stadium deal which lacks transparency and a committment to the neighborhood as much as the teams and the bondholders.
Posted by Cary G | Friday, December 20 2013 at 5:59PM ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.

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