Sports Stadiums and Arena Finance

Paper Summary:

This research paper provides an overview and background of the issues, followed by a discussion of specific stadiums throughout the nation. An assessment of the legal issues involved in financing a major sports arena is followed by a summary of the research and an analysis of the future of sports arena financing in the conclusion.

Table of Contents
I. Introduction
II. Review and Discussion
III.Review and Discussion of Recent Examples
V. Summary and Conclusions

From the Paper:

"We may not have the Circus Maximus, but Americans come close. Not only do sports enjoy a special status in the hearts of Americans, it turns out that sports franchises do too. New sports facilities costing at least $200 million each have been completed or are under way in Baltimore, Charlotte, Chicago, Cincinnati, Cleveland, Milwaukee, Nashville, San Francisco, St. Louis, Seattle, Tampa, and Washington, D.C., and are in the planning stages in Boston, Dallas, Minneapolis, New York, and Pittsburgh. Major stadium renovations have been undertaken in Jacksonville and Oakland. Industry experts estimate that more than $7 billion will be spent on new facilities for professional sports teams before 2006. Most of this $7 billion will come from public sources. The subsidy starts with the federal government, which allows state and local governments to issue tax-exempt bonds to help finance sports facilities. While major sports franchises across the country are reaping the benefits of taxpayer-financed arenas in which to compete, the debate continues about the appropriateness of providing such enormous amounts of resources for the reasons provided by the promoters."

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