Abstract Is the cost of building a new ballpark worth the cost? The problem is who gets the ultimate benefit - the owners of the team, the fans, or the city in which the ballpark is located. Several recent construction projects in large cities indicate that the cost-benefit return is something less than desirable.
Abstract 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."
A look at the benefits to be gained whenever a community makes an investment in bringing a baseball team and the associated facilities to their neighborhood.
Abstract This paper provides an overview of the rationale for communities wanting baseball teams and their facilities in their neighborhood, followed by an analysis of some typical examples from recent years. A discussion of current and future trends in the impact of baseball teams and their facilities on neighborhood economies is then followed by a summary of the research in the conclusion.
From the Paper "There are a number of other indications of the continuing popularity of sports and those who play them as well. "Since the beginning of the twentieth century," Guthrie and Jozsa report, "sports have assumed a growing role in American culture" (3). Millions of Americans watch and listen to daily broadcasts of baseball games and their results, as well as the minutiae involved in the sport. Millions of other fans enjoy their weekly games at ballparks located in cities, towns, and suburbs across North America (Guthrie & Jozsa 1999). Other examples include America's fascination with sports figures and their peccadilloes that continue to dominate American headlines, and a more recent trend has avid fans discussing a vast array of sports topics on talk radio and prime-time television programs. "Even minute changes in the operation and ownership of teams receive top billing in the press."
Tags:ballpark, investment, future, business, community, league, cities, first, class, sports
