I’ve always thought it was odd that so many Americans cheer so heartily for sports teams that leech off local taxpayers.
Think about it: In many a city, the owners of a team prevail upon taxpayers to build a fancy stadium, and then the money the owners thereby save is used to pay players millions of dollars. In effect, the taxpayers are paying the players’ exorbitant salaries.
Ah, but the claim is made that the stadium and the team are good for the local economy.
It says HERE, however, that such is not always the case:
The owners of professional sports teams, along with their favorite politicians, often claim that sports franchises are good for the local economy. That assertion is then used to extract subsidies for new sports facilities (or to make upgrades to existing stadiums or arenas). Case in point, the National Football Leagues Atlanta Falcons want$400 million in public moneyfor a new stadium.
But according to research published by the Bureau of Labor Statistics, having a pro sports team in town may be a net negative for the local economy. Paul Staudohar, professor emeritus of business administration at California State University, found in an examination of last year’s National Basketball Association lockout that shutting down sports leagues can be good for a city’s finances.