Philadelphia On Hook For $35 Million For Eagles, Phillies Stadiums This Year
PHILADELPHIA (CBS) -- As the City of Philadelphia deals with the economic fallout from the pandemic, it's still on the hook for one big expense. The city will pay $35 million this year to the Eagles, Lincoln Financial Field and Citizens Bank Park under a 19-year-old agreement.
The money will repay investors on the bonds for the construction of both the Eagles' and Phillies' stadiums.
Both teams are expected to keep most or all fans out to comply with health guidelines, and will not be passing along millions in annual tax revenues.
