Paper Summary:

Discusses move toward public funding for construction and or improvement of sports facilities for professional sports teams and franchises. Issue of who will pay for stadiums. Expanded business sales in stadium areas. Role of state governments. Pros and cons of taxpayer financing. Need for accountability and oversight to protect taxpayers.

From the Paper:

"Sports Stadia: Taxpayer Funding Concerns
I. Identification of the Problem
Prior to 1953, only one major league baseball club played in a stadium funded by any government body and 75 percent of funding for all ballparks came from private sources. Excluding government-funded stadia built to attract the Olympics, American professional sports teams played in facilities that were funded with private investment capital (Public financing of?, 2001). Since then, bankers have come to estimate that about 20 percent of all professional American sports teams are somewhere in the process of building new stadiums, with franchises in all major sports leagues turning to government at the local and state level for a substantial portion of the costs associated with constructing these facilities (Garrity, 2000)."

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