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News Link • Economy - Economics USA

When Billionaires Build Stadiums, Taxpayers Get Whacked

• By Against Crony Capitalism

The NFL is deeply crony.

Hey taxpayers – pay for my stadium. Thanks. What? You want "free" tickets? Ha! That's funny. Don't you know nothing's free? Don't worry though. You can look at the stadium you built me on TV. 

There are no tears shed here for the NFL's ongoing decline.

(From Real Clear Economics)
 
As reported by the Atlanta Journal-Constitution, the Braves new ballpark will cost taxpayers more than $400 million, not including millions of dollars in transportation upgrades. Meanwhile, taxpayers will be sacked for more than $700 million for the Falcons new stadium over the long haul.


But what about those tremendous economic benefits derived from sports stadiums? Sorry, but no. That's an economic fantasy peddled by politicians and team owners. All of the independent studies on pro sports facilities that look at what's actually occurred in terms of subsidizing new stadiums and arenas make clear that such projects fail to boost incomes, jobs or overall economic activity. They're duds when it comes to economic development.

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