Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Multi-Billion Dollar Stadiums: The Seen vs. the Horrid Unseen
Real Clear Markets.com ^ | Sep 17, 2017 | Allan Golombek

Posted on 09/27/2017 7:31:59 AM PDT by KeyLargo

Multi-Billion Dollar Stadiums: The Seen vs. the Horrid Unseen

By Allan Golombek September 27, 2017

In 1995, the Los Angeles Rams moved to St. Louis, extracting hundreds of millions of dollars from taxpayers to help build a new stadium. After 20 years in the Gateway City, the Rams moved right back where they came from – leaving the people of St. Louis and Missouri stuck with a $6 million a year tab to pay for an empty football field. American taxpayers spend billions of dollars a year to lure professional sports teams from one place to another in one of the most expensive shell games in history.

At least Roman Emperors provided bread. Modern-day politicians are spending a fortune in public funds to lure circuses. Over the past few years, U.S politicians have spent about $10 billion to $12 billion subsidizing sports stadiums, according to academic studies. And the pace of stadium construction is gaining speed. From 2011-2016, six stadiums were completed. Over just the next three years, 12 more are scheduled to be. Is it worth the cost?

It is easy see the benefits of a sports franchise – large-scale construction, stadium jobs, increased consumer spending at local restaurants, bars and hotels. New and improved stadiums occupied by a major-league team have a multiplier effect, spurring consumer spending on food, drinks, and parking. They also stimulate nearby development. But the stadium construction jobs are short-lived. Jobs for ushers and concessionaires don’t pay well and last only part of the year. And how much development is actually drawn away from other parts of the city?

(Excerpt) Read more at realclearmarkets.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: antiamericanism; budget; corruption; economy; flag; fraud; govtabuse; mediabias; nfl; nflstadiums; nflsubsidy; nfltaxpayers; players; scandals; sports; stadiums; taxes; taxpayers; trump
Navigation: use the links below to view more comments.
first previous 1-2021-26 last
To: KeyLargo

The Federal provision not to tax state/municipal bonds, does not in my opinion make a federal subsidy.

All States are treated the same and it doesn’t matter what they spend the money raised from the bonds on.

That’s like saying because the Federal government doesn’t tax freeper KeyLargo everytime he uses the bathroom that I and other federal taxpayers are subsidizing his craps.


21 posted on 09/27/2017 8:18:11 AM PDT by DannyTN
[ Post Reply | Private Reply | To 1 | View Replies]

To: V_TWIN

““Jobs for ushers and concessionaires don’t pay well””

Give them 15 bucks an hour.


22 posted on 09/27/2017 8:23:45 AM PDT by EQAndyBuzz (“The fundamental question of our time is whether the West has the will to survive.” - DJT)
[ Post Reply | Private Reply | To 3 | View Replies]

To: KeyLargo

No more taxpayer funded stadiums for billionaire owners and their millionaire players.


23 posted on 09/27/2017 8:37:13 AM PDT by Lurkinanloomin (Natural Born Citizen Means Born Here Of Citizen Parents - Know Islam, No Peace -No Islam, Know Peace)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Lurkinanloomin
Totally agree. No more taxpayer funded stadiums. Have the teams take the costs out of the players' enormous salaries.

I caught a tail end of an announcement that the Pentagon (?) paid NFL over $6 million to support the troops or something like that. No taxpayer money should go to the NFL and NBA. Seems both of them also got active in a state's bathroom regulations.

I'm not sure on MLB's position on dissing this country. As for NHL, iirc they were active in promoting same-sex marriage.

24 posted on 09/27/2017 8:54:03 AM PDT by apocalypto
[ Post Reply | Private Reply | To 23 | View Replies]

To: KeyLargo

I wonder how many “no show” jobs and “executive vice president” sinecures there are at these stadiums.


25 posted on 09/27/2017 10:52:28 AM PDT by Seruzawa (TANSTAAFL!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: KeyLargo

Impose a $10mil/year fine on every franchise, distributed amongst the offending players who take a knee at the national anthem.


26 posted on 10/26/2017 8:32:34 PM PDT by Cvengr ( Adversity in life & death is inevitable; Stress is optional through faith in Christ.)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-26 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson