Five Stadiums, Six Arenas, 335,271 Seats

Source: New York Times


Via the NYT, this is a simply mind-blowing stat:

“New York area is one of the most crowded regions in the country when it comes to stadiums and arenas. A soccer stadium in the Bronx or Queens and two arenas proposed for Long Island would bring the total to five stadiums and six arenas within 60 miles of Madison Square Garden, with a combined 335,271 seats for basketball, hockey, football, soccer and baseball teams.”

My takeaway from this data point is as follows:

1. There is intense competition for the sports entertainment dollars of residents of municipalities where most sports stadiums are located;

2. Teams (and their owners) are extremely wealthy businesses who can easily afford to build their own facilities. Tax-payer funded stadiums are exercises in crony capitalism, collectivism, or worse;

3. Taxpayer funded subsidies take successful for profit businesses and pad their profits at the expense of ordinary taxpayers.

4.  These are valuable businesses that require no additional incentives to sell their goods and services.

5. These wasteful subsidies have demonstrated little if any positive economic impact on the municipalities and states.


More on this next week . . .



See also:
John Oliver on Taxpayer Funded Stadiums

The Economics of Subsidizing Sports Stadiums

Wait, We Paid How Much for This Place?

Abandoned NFL cities have old stadium debt, new outlooks


Rip down Qualcomm and build new stadium? Stupidity squared

7 Things We Could Have Spent $12 Billion On Instead Of New Sports Stadiums

HBO’s John Oliver rails against the boondoggle of taxpayer-financed stadiums

Working paper on stadium funding:

St. Louis Fed analysis on tax-payer funded stadiums:

Throughts by famed sports economist Andrew Zimbalist:

Americans for Prosperity is against subsidizing stadiums:

Datasets on the costs of stadiums:

Political Score Card for Tax-Payer Funded Stadiums:

General Policy and Research on Tax-Payer Funded Stadiums:

Obama called for end to Tax-Payer Funded Stadiums in recent budget:

Academic writing for a general audience on stadium subsidies:

Freakonomics analysis:

Press Links:
NPR, Stop the Subsidy Sucking Sports Stadiums:

The Atlantic, Overview highlighting the risk that the team is unpopular

CNN, History of Tax-Payer Funded Stadiums:

Huffington Post, Benefits Do Not Outweigh the Risks:

The Atlantic, How the NFL Fleeces Tax-Payers:

Bloomberg, In Stadium Building Spree, Taxpayers lose $4 Billion:

Forbes, Publicly Financed Sports Stadiums are a Game Taxpayers Lose:

Wall Street Journal, Use of Taxpayer Money for Pro-Sports Arenas drawn fresh scrutiny:

New York Times, The High Cost and Low Benefit of Sports Subsidies:

TIME, Football a Waste of Taxpayer Money:

Economic Development:
Chapter 5 Discusses the myth that stadiums bring in more people:

Stadiums are poor investments of public money:

Typically sports stadiums do not spur economic activity:

Stadiums and franchises are ineffective means to creating local economic development, whether that is measured as income or job growth:

Impact of sports facilities on urban economic development:

Stadiums don’t bolster economies, scholars say:

Are Sports Stadiums Good for Economic Development:

If you Build It, They Might Not Come: The Risky Economics of Sports Stadiums:

Sports, Jobs, & Taxes: Are New Stadiums Worth the Cost?

Taxpayers Beware, bidding wars for NFL Teams are losing bets:

The Economics of Sports Facilities, and their Communities:

Publicly Funded Stadiums Add Little to Local Economy, Report Says:

Funding Mechanisms:
Hotel Taxes for Funding Stadiums:

Evaluating Subsidies of Tax-Payer Funded Stadiums:

The Efficacy of Public Subsidies in the Success of Professional Sports Stadiums:

Case Studies from Other Cities:

Profiles of 6 Different Cities:

Washington DC:

Impacts on Low-Income Communities and Communities of Color:
Impacts of four stadiums on Black populations in Atlanta:

When Publicly Funded Stadiums Gut Neighborhoods:

Research on Benefits of Stadiums that is Not Commissioned by the NFL or Team Owners:
Philly Fed:

KC Fed:

In Defense of Publicly Subsidized Stadiums:

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