In the past 20 years, over $7 billion in public money has gone towards financing the construction and renovation of NFL football stadiums. Owners argue that public investment in private football franchises will bring a boom of economic activity to local economies. But this argument doesn’t hold up. In reality, stadiums and their upkeep wind up costing cities millions of dollars. For owners, new stadiums mean more profits. They get to host the Super Bowl, sell naming rights to other corporations, and build increasingly opulent and expensive premium seating.
Sunday, February 4, 2018
Why do taxpayers pay billions for football stadiums?
In the past 20 years, over $7 billion in public money has gone towards financing the construction and renovation of NFL football stadiums. Owners argue that public investment in private football franchises will bring a boom of economic activity to local economies. But this argument doesn’t hold up. In reality, stadiums and their upkeep wind up costing cities millions of dollars. For owners, new stadiums mean more profits. They get to host the Super Bowl, sell naming rights to other corporations, and build increasingly opulent and expensive premium seating.
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