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Pros And Cons Of Public Funding A New Sports Arena

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Disadvantages of Public Funding a New Sports Arena With all advantages, there are also disadvantages to any situation. Increasing economic growth with constructing a new NBA arena does not necessarily mean that it is beneficial for the city. Yes, it does create new job opportunities in the city for many individuals, but the vast majority of these jobs are temporary construction jobs, part-time jobs, or low income paying jobs on game days for the Levi’s Stadium in in Santa Clara (Avalos, 2014). According to Jolie Lee of the USA Today Network, approximately “121 professional sports facilities in use for all five major sports leagues required $43 billion in investments in new construction or major renovations in 2010” (Lee, 2013). Therefore, …show more content…

By building a new arena, property values could possibly decrease on homes due to more traffic and noise. Neighborhoods could also have an increase of drunk driving from people drinking at the stadium. Another tactic the local government can exercise is the right of eminent domain in order to obtain the land needed for their construction. The Arlington City Council was moving forward on eminent domain proceedings against as many as nineteen properties needed to build a new Dallas stadium. City officials stated that they had to pay fair market value for the properties, and even offered incentives for those who moved out quickly or accepted the offers at the beginning. Having to force people out of their homes just so they can build a new arena is unjustifiable for these families (Joyner, …show more content…

Hamilton County had borrowed $623 million in bonds and has had to refinance twice to stay afloat (Preston & Kuriloff, 2013). In 2013, the city of Sacramento had to debate whether the city should move forward with plans to subsidize the project of building the new downtown King’s arena. The city planned to only contribute $258 million towards the arena, and sell bonds to private investors to raise its share and then pay the investors back within 36 years. However, when the bond payments add up within the 36 years, the true financing cost is in the $700 million range (Bizjak, Kasler, & Lillis, 2013). The city government in Bridgeview is borrowing even more money after financial struggling from funding the Toyota Park stadium. According to Neil deMause, “the latest borrowing binge — $27 million — will put Bridgeview taxpayers at greater risk of funding an even bigger bailout of the village-owned stadium if it continues to flounder” (deMause & Cagan, 2008). In 2006, Bridgeview borrowed $100 million to construct the new stadium for the Chicago Fire team believing that it would pay off from stadium revenues; however, the lease stated that all revenues would go to the team. The city was only receiving revenue from concerts being held in the stadium because not all games are played at the arena. The income received from

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The operation of the Charlotte Hornets team and facilities and the TWCA is a positive impact for the Charlotte and Mecklenburg County areas due to the employment opportunities that are aligned with the arena and facilities. In addition the fans that travel from outside the local boost the economy when they stay in local hotels, eat at local establishments and bring their financial contribution to the community while attending sporting or entertainment events. The economic impact is not just limited to Charlotte, the state of North Carolina benefits greatly from the operation of the Charlotte Hornets and the Time Warner Cable Center. During a time where many people are experiencing unemployment and financial difficulties, having facilities and arenas that generate revenue that opens up various employment opportunities ranging from business class positions to the food industry and other service industry

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The article “Taxpayers Have Spent A 'Staggering' Amount of Money On NFL Stadiums” by Travis Waldron draws attention to two main points. First that American Taxpayers spent an estimated seven billion dollars to help construct twenty- nine of the thirty- one NFL stadiums in our country. This placed the risk of bankruptcy on the taxpayers rather than on the league whose annual revenue is more than ten billion dollars. Second, cities in America love their football teams and will spend very large amounts of money to keep their hometown franchises in place. The author finishes the article by saying, “That $7 billion figure will only continue to grow long after the NFL season begins Thursday night” (Waldron).

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Residents in Los Angeles will heavily be affected by the Rams decision as well because ever since the Rams left in 1995, they have been requesting an NFL franchise. Other stakeholders that some tend to forget are the business owners that have businesses located near the new proposed stadium

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Pride in many ways drives a sports team 's revenue, because it speaks to the investment of fans in their hometeam. And having a place to gather, to eat good food and watch a team you love play, can directly contribute to a City 's pride in their team and furthermore, the money they are ready to spend on supporting that

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The author of this article is incorrect because he believes that moving business around will be harmful, that a football team coming to Los Angeles is a waste of money and it will hurt football fans. The author early on starts out with a Hasty Generalization fallacy by assuming that all football celebrities and people associated with the organization will cause bad publicity. He also assumes that this is bad for Los Angeles, however clearly people enjoy following celebrities like the Kardashians otherwise shows like that wouldn’t get views. The author continues his argument with a non-sequitur. He claims that because adding a franchise just redistributes wealth and doesn’t add, that we would be “cannibalizing” current businesses.

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Even with such popularity, the professional arena still does not compare to other professional sports in many ways, including salaries of athletes, attendance for games and notoriety of

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Sports are something most Americans can relate to; many of us played some type of sport as a kid and some of us are die-hard fans. Sports have developed with us as a society and have become an interwoven piece of our culture and their effects can be seen in many cities countrywide. The facilities where these teams play can become a centerpiece of the local community and the teams themselves can bring people from all walks of life together in search of one mutual goal, for their team to win. The controversy arises when it comes to how many professional stadiums are routinely being funded and whether taxpayers should foot the multi-billion-dollar bill. This has not always been a controversy, however, as prior to 1953 stadiums were largely funded

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They have to pay the bills to keep their stadiums up and running. There is a lot of staff and security that have to help work their games as well. We can’t exclude the coaches, and staff that help run the games as

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Sports motivate athletes to be better students, so funding sports would just keep kids inspired to do good at school, not cause them to get

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