Then we could get into why cities want to subsidize these sports teams.
Is there really that much Prestige or civic pride involved in having a team in major league baseball , NFL football, NBA basketball , or NHL hockey?
I know the boosters always say that a new stadium will generate Economic Development, and so these projects are a net benefit to the city. Has this ever happened anywhere?
Actually, that has happened, think of Steven Ross and the Miami Dolphins, that stadium was massively renovated a few years ago.
Besides the 10 NFL events a year, there is now a F1 Race held at the stadium every year, college football is played there, a college football bowl game is played there every year, College Football National Title games and Super Bowls have been played there.
Around the stadium is a series of hotels and other development that would likely not be there if these events were not happening
If you concentrate on just the NFL, you’re right, it may not be worth the price, but in certain places that have marketed their stadium for other events, the economics make more sense.
This website runs the numbers—the stadium subsidies are ripoffs of taxpayers—every single time:
https://www.fieldofschemes.com/
Correlation is not causation, but the Raiders leaving Oakland seems to be associated with an accelerated socioeconomic collapse there.