Discuss the Psychic Income of having a stadium or arena in your city. Need Writing Help? Instantly chat with an online tutor below or click here to submit your paper instructions to the writing team. Super stoked you are checking us out! We would like to help you with your assignment. We just need a few things from you:. We are as paranoid as you are. Maybe even more! And we understand that the greatest sin you can commit in your academic journey is plagiarizing your academic work. To that end, we have made sure that we check and double-check our papers using high quality plagiarism detection tools such as SafeAssign and Turnitin before submitting the paper to you.
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Of course! In , the Metrodome was built as home for the Minnesota Vikings and Twins. In , Congress tried to close an exemption that allowed stadiums to be financed with tax-free municipal bonds by allowing only a small portion—10 percent or less—of the cost to be repaid by revenues and lease payments. The idea was that no city in its right mind would pick up 90 percent of the cost on its own, and that idea backfired spectacularly. Altering or removing this loophole would push cities to make better deals.
In and , the Obama administration tried and failed to take away the tax-free status of any bonds used to pay for private sports stadiums.
But President Trump and most Republicans seem to agree with the approach. Realistically, any legitimate solution that shrinks the power disparity between municipalities and leagues must come from the federal government, as cities without teams will always sacrifice more to get in the game.
One answer would involve regulating the leagues like the natural monopolies they are. There are no competing definitions out there, despite the efforts of Vince McMahon. When competition pops up, it quickly and inevitably dies, because we want to see one champion crowned. No competition means no market forces, which leads to a sort of natural monopoly.
That monopoly helps drive the big business of sport. These monopolies allow leagues to self-determine how many teams can exist, and thus how many cities can participate. Predictably, they keep the number low. The leagues, players , and sports commentators contend that fewer teams keep the level of play from being watered down, but more likely, the shortage allows teams to pit cities against one another.
The curious case of Los Angeles exemplifies this phenomenon. Between and , one of the greatest conspiracy theories in football held that the NFL kept the colossal L.
Purposeful or not, it worked: During that period, 22 new NFL stadiums were built using billions in public money. Other natural monopolies have been resolved through regulation, either by the government enforcing price caps—in sports, this would trim how much money owners, players, and leagues could drain from a community—or by deciding on the quantity of the product being produced. The latter option the government forcing expansion is the most interesting. While having something like a hundred MLB teams is clearly infeasible, an elegant solution already exists abroad.
On and on it goes, teams moving up and down divisions every season. Read: Why American sports are socialist. Viewing pro-sports leagues as the public good and natural monopolies they are, and then responding to that by forcing them to expand closer to what the market can bear, would take away the incentive municipalities have to throw gobs of public money at these private businesses. If more cities have teams, there will be no need to wield tax breaks or publicly funded private stadiums in the cutthroat war against other cities.
And more public money in the coffers means more funding for roads, schools, and other social services. The Expos left, and the football team plays out of a rinky-dinky but far cooler college stadiujm McGill. Bout the only useful thing of the stadium is its reputed entombment of various mobsters. Hell, give him somebody to look down on, and he'll empty his pockets for you. The cities can retain ownership of the land the stadium is on so they can perpetually take rent from the stadium to pay it off if it was built with public money.
Also unlike building college campuses that create jobs and supplementary jobs in the area and those who stay on campus would spend money in the local area. Studies recommend that it be demolished, except that demolition would cost many, many millions of dollars.
A while elephant, a political boondaggle, and basically a massive waste of money. I'm happy about this article.
Enough time has passed for us to reflect on the blunder which took place in North Americas Stadium "boom". It was nothing more than corporate welfare, of wealthy owners selling the public on false wishes. Cities spent a pile of money and will never get a ROI.
They're are exceptions to evrey rule for instance: Arenas in some markets are ATM's, and rake in a lot of money for the diversity of events they generate, Some MLB stadiums have spurred off Light rail or other developments that have become quite successful Denver, LODO. But overall the numbers don't add up, Owners need to build their own buildings, there is nothing in it for Cities to do so.
Mayors fall in love with Stadiums because they are quickly built years , highly visible, and for the most part tap into a nostalgia of the populace. They end up becoming shrines for that administration and they are far gone from office when the wheels start to fall off. Its a win-win for them. Originally Posted by tredici. As was the BC stadium, built for Expo If you call their bluff, you have to be ok with losing a team. Seattle lost the Sonics.
Outside of sports bars we're relatively ho-hum about this, and there's no major uprising to get a new team. But if your city's identity and entertainment are centered on a team things might be different.
Originally Posted by MolsonExport. Nothing more than corporate welfare, pro sports owners are some of the most wealthy individuals, they cried poor to rob public coffers dry. Posted Aug 23, , PM. Originally Posted by J. That's great, but those aren't the stadiums I was talking about. That should have been obvious as those stadiums were built in the 80s, and I said the 90s.
Next time I'll be more clear just for you. This discussion thread continues Use the page links to the lower-right to go to the next page for additional posts. All times are GMT. The time now is PM. User Name. Remember Me? Mark Forums Read.
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