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Sports and the City
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If there is one thing most of us can agree on, the professional sports industry is fueled by money. Fan-based revenue is one of the major sources of income, and they need a place to call home. This week Nimo and Jas investigated the impact of sports stadium construction deals on cities, specifically the San Francisco 49ers Levi’s Stadium that opened in 2014. The average cost of an NFL stadium is $1.2 billion. Should local taxpayers and governments be responsible for paying for a portion of the costs? And is the perceived economic benefits of the stadium a valid argument why the public should chip in on the bill? Press play to hear:
- The sports economics literature on why or why not cities should invest in sports stadiums.
- History of the San Francisco 49ers team, locations, and impact compared to other NFL teams.
- A deep dive into the stadium deal between Santa Clara and the SF 49ers, including the initial ballot measure, project costs, and funding distribution by each party.
- Alternatives for funding and constructing sports stadiums with less public resources.
Thank you for listening and tune in every-other Tuesday where Nimo and Jas keep it Four Degrees to the Streets.
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Resources:
How are we funding professional sports stadiums? An overview
Do Economists Agree on Anything? Yes!
Forbes: Sports Money: 2020 NFL Valuations
Truth in Accounting: Financial State of Cities 2020
Bayview–Hunters Point, San Francisco
National Building Museum: Documenting Crossroads: The Coronavirus in Poor, Minority Communities
Game On: 49ers Stadium Measure Wins Approval – NBC Bay Area
Levi's Stadium: 49ers happy, Santa Clara may be on the hook
Santa Clara Stadium for the 49ers, Measure J (June 2010)
Santa Clara Stadium Authority Financial Reports
What Can We Learn From Four Stadium Deals That Don't Suck?
Is There a Better Public Financing Option for Building Stadiums?
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