Financing Sports Stadiums
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The paper reveals that professional sports venues generally do not produce a lot of economic activity, and a classic sports venue costs local taxpayers more than ten million dollars a year. The paper outlines five main arguments that can be made as to why subsidies to professional sports should not take place and discusses why fans and taxpayers must become the owners of professional sports franchises. Finally, the paper questions the fairness of everyone in the city paying taxes for something that they do not all partake in.
From the Paper:"Sports venues in the United States for the four major professional sports leagues have lately been constructed at an unparalleled rate and when the total understanding of the twentieth century is looked at it can be seen that taxpayers in the host cities have born the load to a considerable degree (Baade and Matheson, 2005).
"Sporting events have become big business. Today the revenue that is generated from gate ticket pricing is a very small part of it. The major areas of income generation include television rights, radio broadcasting rights and sponsorships of individual players and franchises by corporate businesses in order to promote their branded products. In the past there were sportsperson personal loyalties and team loyalties, but today loyalties have shifted gear towards financial maximization. Choices are made by teams and players on the base of how much they get and not how loyal they are. Salaries of players have gone up tremendously. Players draw salaries from $600,000 to $8,000,000 per year. There used to be a time when stadiums were built by the state as part of public works developments. Today, private funding of stadiums is more and more taking place. Team owners enthusiastically come forward to supply their might towards the cost of construction of stadiums."
Sample of Sources Used:
- Baade, Robert A. and Matheson, Victor. (2005). Have Public Finance Principles Been Shut Out in Financing New Sports Stadiums for the NFL in the United States? Retrieved December 22, 2010, from Web site: http://college.holycross.edu/RePEc/hcx/Matheson_PublicFinance.pdf
- Bast, Joseph L. (2010). No. 85 Sports Stadium Madness: Why It Started, How to Stop It (summary). Retrieved December 22, 2010, from The Heartland Institute Web site: http://www.heartland.org/policybot/results/9474/No_85_Sports_Stadium_Madness_Why _It_Started_How_to_Stop_It_summary.html
- Coates, Dennis. (2008). A Closer Look at Stadium Subsidies. Retrieved December 22, 2010, The American Web site: http://www.american.com/archive/2008/april-04-08/a-closer-look-at- stadium-subsidies
- Sports Economics - Financing a Stadium. (2003). Retrieved December 22, 2010, from Web site: http://www.moneyandsports.com/financing.htm
- Stufano, Mike. (2006). Public Financing of Sports Stadiums. Retrieved December 22, 2010, from Web site: http://www.associatedcontent.com/article/107014/public_financing_of_sports_stadiums.h tml
Cite this Persuasive Essay:
Financing Sports Stadiums (2013, May 02) Retrieved February 18, 2020, from https://www.academon.com/persuasive-essay/financing-sports-stadiums-153093/
"Financing Sports Stadiums" 02 May 2013. Web. 18 February. 2020. <https://www.academon.com/persuasive-essay/financing-sports-stadiums-153093/>