Government incentive given to professional sports teams
A stadium subsidy is a type of government subsidy given to professional sports franchises to help finance the construction or renovation of a sports venue. Stadium subsidies can come in the form of tax-free municipal bonds, cash payments, long-term tax exemptions, infrastructure improvements, and operating cost subsidies. Funding for stadium subsidies can come from all levels of government and remains controversial among legislators and citizens.
When surveyed, 86% of economists favored eliminating public subsidies for professional sports franchises.[1][2][3] According to economists, state and local subsidies to build stadiums for professional sports teams are unlikely to result in economic benefits that exceed the costs to taxpayers.[4][5][6] Stadium subsidies have distributional effects, primarily benefitting wealthy owners, players and other staff of sports franchises while imposing costs on the public.[7] Stadium subsidies are widely criticized for using taxpayer funds to benefit franchise owners, who are often billionaires, to the detriment of public schools and infrastructure.[8][9][10][11][12]
^Kianka, Tim (March 6, 2013). "Subsidizing Billionaires: How Your Money is Being Used to Construct Professional Sports Stadiums". Jeffrey S. Moorad Center for the Study of Sports Law. Retrieved February 3, 2016.
^Kuriloff, Aaron; Preston, Darrell (September 5, 2012). "In Stadium Building Spree, U.S. Taxpayers Lose $4 Billion". bloomberg.com. Retrieved February 3, 2016.
^Wolla, Scott A. (May 2017). "The Economics of Subsidizing Sports Stadiums". research.stlouisfed.org.
^"Sports Stadiums". Clark Center Forum. 2017.
^Wolla, Scott A. (May 2017). "The Economics of Subsidizing Sports Stadiums". research.stlouisfed.org.
^"Do Economists Reach a Conclusion on Subsidies for Sports Franchises, Stadiums, and Mega-Events?". Econ Journal Watch. 2008.
^Noll, Roger G.; Zimbalist, Andrew (2011). Sports, Jobs, and Taxes: The Economic Impact of Sports Teams and Stadiums. Brookings Institution Press. ISBN 978-0-8157-2040-9.
^Morrison, Richard (September 6, 2019). "Welfare for Billionaires: Stadium Subsidies Are Pure Cronyism". Competitive Enterprise Institute. Retrieved October 21, 2021.
^"Taxpayer subsidies for stadiums of 26 billionaire team owners have totaled $9 billion since 1990, with most in last decade". The Gazette. February 2021. Retrieved October 21, 2021.
^Boehm, Eric (September 7, 2017). "Stop Subsidizing Football". Reason. Retrieved October 21, 2021.
^Dator, James (June 9, 2021). "Publicly funding stadiums for billionaires is a scam". SB Nation. Retrieved October 21, 2021.
^Weiner, Evan (December 4, 2013). "Bankruptcy Hasn't Stopped Detroit's Plan for Public Funding of New Sports Stadium". The Daily Beast.
A stadiumsubsidy is a type of government subsidy given to professional sports franchises to help finance the construction or renovation of a sports venue...
Retrieved January 5, 2024. Neil deMause (December 26, 2023). "Rays stadiumsubsidy could top $1.5B counting tax and land breaks". Field of Schemes. Retrieved...
supported a proposal to spend $1 billion of taxpayers money on building a stadium for a potential NHL expansion team. On April 12, 2023, Mendenhall announced...
legislative efforts to liberalize marijuana laws, and entered into a failed stadiumsubsidy agreement with Ted Leonsis that sought to move the Washington Wizards...
who studies stadiumsubsidies, described the deal as "one of the worst stadium deals in recent memory." Groundbreaking for the stadium occurred in June...
$2.3 billion stadium was built with $1.2 billion in public subsidies and is one of the most expensive stadiums ever built. Yankee Stadium became the home...
most of the funding for the stadium construction cost. Oklahoma City Mayor David Holt, an avid supporter of the stadiumsubsidy, stated that he was confident...
proposal to allow St. Petersburg citizens to express their view on the stadiumsubsidy in an advisory referendum. After Tampa was awarded the Tampa Bay Buccaneers...
6, 2013. Archived from the original on May 9, 2013. "House passes stadium-subsidy bill which would aid Orlando, Miami MLS dreams". Orlando Sentinel....
of the purported economic impact, pointing to studies showing that stadiumsubsidies rarely generate net economic benefits, and questioned the need for...
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"temporarily abandoning" plans for seeking the subsidy. Using public funds in Florida to build a stadium may have proved to be too difficult; the Florida...
transportation and other infrastructure projects, and is critical of stadiumsubsidies. Painter also declared his opposition to the Trump tariffs, in particular...
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DeMause, Neil (April 17, 2018). "NYCFC Wants Its Own Islanders-Style StadiumSubsidy". Village Voice. Retrieved April 17, 2018. Bronx New York, New Haven...
2015, the TPA issued a report called "Sacking Taxpayers: How NFL StadiumSubsidies Waste Money and Fall Short on Their Promises of Economic Development"...
said tax credits are not subsidies and the stadium will be a boon to the city, especially the east zone. They also said subsidies given to the Brazilian...
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