Sports Stadiums Are Bad Public Investments. So Why Are Cities Still Paying for Them?
Joel Kotkin dispels some of the popular myths of stadium projects.
Joel Kotkin dispels some of the popular myths of stadium projects.
Multibillion-dollar sports franchises don't need any additional tax breaks.
It's snowing, but it's winter. For the NFL and other sports leagues, it's raining taxpayer dollars every single day.
Hundreds of millions for a not-very-good basketball team
Politicians always underestimate the cost and overstate the benefits of stadiums.
Richmond, Virginia, has already been burned on grandiose projects.
But it would include a memorial
Taxpayers reportedly picking up at least part of the tab
Would have sold bonds to turn it into a convention center
Maybe small ballparks could economically justify their existence, though not necessarily public investment.
Owes New York City $42 million
Bankrupt Motown gives $450 million gift to the Red Wings owner
Minor league teams offer empty promises and empty stadiums.