Public vs Private Funding Private Stadiums

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INTRODUCTION The past 20 years have witnessed a massive transformation of professional sports stadiums in North America and the rest of the world. In the United States and Canada alone, by 2012, 125 of the 140 teams in the five largest professional sports leagues, the National Football League (NFL), Major League Baseball (MLB), National Basketball Association (NBA), Major League Soccer (MLS), and National Hockey League (NHL), will play in stadiums constructed or significantly renovated since 1990. This new construction has come at a significant cost, the majority of which has been covered by taxpayers. Construction costs alone for major league professional sports facilities have totaled in excess of $30 billion over the past two…show more content…
Providing public subsidies for private stadiums is providing corporate welfare plain and simple. Public subsidies for stadiums go directly into the pockets of team owners and players by increasing profits, player salaries and raising the re-sale value of the team. According to one study, a new stadium increases team profits by an average of $11 million annually, payroll salaries by $14 million and increases team book value by $90 million. (Depken, 2003) The billionaire team owners and the player’s profit, but the taxpayer doesn't see a dime. Politics Involved The fear of losing a sports team, and the votes of sports fans, have caused local officials to blink time and time again and to waste public funds to buy the votes of the vocal and organized few, versus the best interests of the largest portion of their voters. Thus we can see why public money is eagerly donated. The full costs of a stadium and the damage it does to communities are often years in the future, long after the politician is known for being the hero that save our local team and has moved on to bigger and better things, now with the campaign funding of the very teams that they built homes for and the fans who continue to pay. Team owners can choose new cities but cities can’t choose new teams thanks to the leagues government-sanctioned monopolies over franchise placement, mayors for example, feel they must offer owners anything they want. “Politicians continue

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