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WORST DAMN SPORTS SHOW - COMMENTARY |
Independent studies all tell the same story:
Teams get richer while the owners' line their pockets with more GOLD.
Below are
summaries of several books that clearly demonstrate that stadiums cost
cities money and always require public subsidies.There are many other
studies out there that say the same thing. 1. Field of Schemes : How the great stadium swindle turns public money into private profit
Average citizens are the ones paying for the cost of new sports facilities-in public subsidies,
in tax revenue lost, in public spaces taken over for private gain, in
disillusionment with the democratic process. Can you imagine the
Chargers not spending tons and tons of money to win an 'election' on
this issue?
2. The Bottom Line: Observations and Arguments on the Sports Business
In The Bottom Line, one of the foremost sports economists writing today, Andrew Zimbalist (National Pastime), analyzes the "net value" of sports. He examines motives for why owners buy franchises (to make money for themselves), the worth of the players and the profitability of teams, and the importance of publicly funded stadiums. In
other words, these things don't make money UNLESS the cities pony up
huge amounts of funding whether it be by tax subsidies, service
subsidies, etc. What will the City of Oceanside promise the Chargers at
the expense of the public?
3. Public Dollars, Private Stadiums: The Battle Over Building Sports Stadiums
... policies that direct public dollars toward new stadiums may exacerbate rather than alleviate problems such as poor schools, unemployment, poverty and homelessness, even though proponents of these policies claim just the opposite.
What
will people throughout the city have to give up? Libraries, park
maintenance, pot hole repairs, response times by the emergency medical
personnel?
4. Major League Losers: The Real Cost of Sports and Who's Paying for It!
The elaborate economics of this "welfare for sports owners" are analyzed thoroughly, with the result being Rosentraub's suggestion that there is insufficient return on the investment of
the hundreds of millions that owners usually want. If you know how to
read in-depth economic studies, this one is for you. Bottom line:
stadiums don't pencil out for the cities, only the owners makes money.
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