Public financing of minor league stadium a risky investment.

after negotiating for several months to finance and build a $55 million ballpark in Charlotte, baseball’s Class AAA Charlotte Knights will receive $7.25 million from the city, $750,000 from Charlotte Center City Partners (an economic and cultural development group), and a donation of public land valued at $20 million to $24 million from Mecklenburg County. In addition to $38 million from the Knights to pay, in part, construction costs, the county will also spend $8 million to improve infrastructure in the Third Ward, the ballpark’s future location in downtown Charlotte. The team is expected to move from its site in Fort Mill, S.C., after completing the 2013 season. (PUBLICATION ABSTRACT)