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View Full Version : Want to pay out the nose to keep the team because you like them?


Simplex3
05-14-2005, 08:50 AM
Fine. But don't give me all this horse-hockey about how it will be financially devistating to KC if they leave to try and prop up your argument with people that don't care about the team as much as you do.


http://www.reason.com/0505/fe.dm.demolishing.shtml

...During the last 15 years, economists such as Stanford’s Roger Noll, Smith College’s Andrew Zimbalist, and Cleveland State University’s Mark Rosentraub repeatedly have shot down the claim that new stadiums benefit local economies. “There is no dispute in the economic community about who gets the primary benefit from the subsidy,” says Raymond J. Keating, chief economist for the Washington-based Small Business & Entrepreneurship Council and an expert on sports facility financing.

Rosentraub estimated Arlington would lose roughly $235 million over 30 years as a result of the new Cowboys stadium, a far cry from the city’s (and team’s) projected $7 billion gain over the same period. (The raised taxes for the stadium would actually take spending money out of the local economy.) Local businesses tend to be largely unaffected, Rosentraub has found, because teams attempt to control almost all of their fans’ entertainment spending, including shopping and dining. This leaves little room for the promised spillover growth around the stadium...

...The lawsuit is designed to drive the Bengals and the league back to the bargaining table. Like most stadium deals, the Bengals have a tiny annual lease payment (about $1 million), and they keep all revenues, even for nonfootball events. Because sales tax receipts have declined, the county’s bond repayment, initially scheduled to take 23 years, is now expected to take 35...

Bowser
05-14-2005, 08:55 AM
So basically, this is a bunch of "smart" people telling all of us with common sense what we have already figured out. I have never understood why it is pushed that a community will benefi from new stadiums, when it's the communiy that has to pay the bill for it.



Horse-hockey? Grandpa, is that you? :p

Simplex3
05-14-2005, 09:04 AM
Horse-hockey? Grandpa, is that you? :p
ROFL. That's where I learned it too!