We Should Build New Sports Stadiums

In the article of the professional stadium of New York Times of Roger G. Noll, it is necessary to construct a new stadium. New York baseball stadium (or elsewhere) point out that it costs too much to build. Noel is an economist, so you will understand the financial situation of building a new stadium. Although he is not honest, he tried to look at the problem from all sides. He said that these facilities never pay for themselves, and the total revenue of the community increased, but not enough to offset the costs.

The slogan of the new stadium campaign in San Francisco 49ers shows the economic reasons for the city's willingness to subsidize sports facilities: "Construction of a stadium - creation of employment! We claim to improve regional economies in one way. First, the construction facility carried out construction work. Secondly, people who participate in the game or work in the team will create new expenditure in the community and expand local employment. Third, the team attract tourists and companies to the host city, further increasing the local expenditure and employment opportunities. Finally, all of these new expenditures have a "multiplier effect". Because increasing local income will result in more new expenditure and employment creation. The proposer believes that the new stadium has stimulated economic growth so that it can raise funds on its own. Subsidies are offset by ticket, franchise, and sales taxes on other expenses outside the stadium.

Professional sports gives people a sense of pride and community. But who should pay for the stadium? Three NFL stadiums were built from 2008 to 2010. $ 1.1 billion AT & T stadium for Lucas Oil Stadium and Dallas Cowboy for $ 710 million for Indianapolis Colts. The team and the Giants raised $ 1.6 billion at the Metropolitan Life Stadium and the latest NFL stadium is the $ 1.1 billion Bank of America Stadium of Minnesota Vikings (2016), of which $ 498 million is covered by state and local governments I will be paid. Of course, the basis of the controversy is that taxpayers are paying the fact that the government will provide subsidies to the construction of the new stadium.