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Obama and NFL Stadium Financing

How does it work at stadiums when other events are hosted?

The Jags stadium off the top of my head in the last 12 months has had a USMNT friendly, FL-GA, a two day country festival, Carrie Underwood concert, another international soccer match, another music festival, and the taxslayer bowl.

I've also been to a wedding show there and went to prom there in high school. You can rent the stadium as a wedding venue and a number of charitable events are held there.
 
think about how much that stadium will be worth to jacksonvillians when they can cheer for THEIR LONDON JAGS.
 
Keep in mind the public builds the roads to get to the stadium, handles traffic and security as well.
 
deacphan said:
think about how much that stadium will be worth to jacksonvillians when they can cheer for THEIR LONDON JAGS.
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Well, there has been a stadium there since 1949 and the current stadium was built in 1995 so we've gotten a fair amount of use out of it to date. And As long as Shad Khan is the owner I don't see the Jags going anywhere.

The Bay Area or St. Louis should have a stadium available pretty soon.
 
only nfl stadiums are built in the boondies. bc they are terrible. other stadiums are usually built in more urban areas.
 
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I have no knowledge of the specific numbers or if it was a good deal for DC citizens or not....

But I know Nationals Park was built with almost all DC public money / loans. The entire SW DC area used to be a wasteland 10 years ago and now it is pretty nice and in another 10 years will be very nice. Having the stadium there is the biggest part of that.
 
You can't argue that a lot of these stadiums/arena don't add tons of public value/utility, but is the idea that these things won't be built if public money wasn't allowed to be used? I find that to be a stretch.
 
FckVwls said:
I have no knowledge of the specific numbers or if it was a good deal for DC citizens or not....

But I know Nationals Park was built with almost all DC public money / loans. The entire SW DC area used to be a wasteland 10 years ago and now it is pretty nice and in another 10 years will be very nice. Having the stadium there is the biggest part of that.
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$700 million.

Let the owners build their own stadium, and invest some in the surrounding area, and I bet you could get the same results for a fraction of the cost to the public.

The stadium would probably be less fancy, though.
 
Sometimes you have a bidding situation for ballpark locations:

Like for the Nationals, I think Rosslyn in Arlington, VA very much wanted the stadium and were willing to put up ~ 300 million of funding. It probably was a preferable location for the stadium for the owners too. But DC got the stadium because of their funding. So if DC didn't put up the money, that neighborhood would be still be a wasteland.

The Braves are going to Cobb County because the local government ponied up a ton of money. Cobb County would never get a baseball team if the owner had to pay for the full stadium and picked the location. Maybe it will help Cobb Co businesses and bottom line in the end?

I'm cool with closing down the tax loophole now tho. I think currently the bonds on the ballparks are tax exempt like munis so they can carry lower interest rates to meet market supply/demand. I can see that being a good change.
 
FckVwls said:
Sometimes you have a bidding situation for ballpark locations:

Like for the Nationals, I think Rosslyn in Arlington, VA very much wanted the stadium and were willing to put up ~ 300 million of funding. It probably was a preferable location for the stadium for the owners too. But DC got the stadium because of their funding. So if DC didn't put up the money, that neighborhood would be still be a wasteland.
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But DC would have $700 million to improve that neighborhood, if that is what they wanted to do.
 
Hey, remember when the Nats asked for the government to pay for a $300 million roof, after getting a $700 million park?
 
Fuck Your Couch said:
You can't argue that a lot of these stadiums/arena don't add tons of public value/utility, but is the idea that these things won't be built if public money wasn't allowed to be used? I find that to be a stretch.
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I can argue that. There have been literally hundreds of studies on public funding of stadiums. It has been shown numerous times that there has been no benefit to the public from a stadium. If the stadium wasn't there, people would spend their money on concerts, movies or dinners out. One could argue that is a better use of their money, because the money in those venues are more likely to be recirculated in their own communities.
 
bernbp5 said:
I can argue that. There have been literally hundreds of studies on public funding of stadiums. It has been shown numerous times that there has been no benefit to the public from a stadium. If the stadium wasn't there, people would spend their money on concerts, movies or dinners out. One could argue that is a better use of their money, because the money in those venues are more likely to be recirculated in their own communities.
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I'd be interested in seeing one of those hundreds of studies because 1) No benefit seems like a crazy absolute and 2) it also seems highly dependent on the situation. I will admit my statement was entirely anecdotal. I do still agree that public funding is dumb.

ETA: The first two studies I looked up did come to your conclusion on general economic growth and consumption benefits. Interesting.
 
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They are about to address this issue on Mike and Mike in the morning.
 
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