Big tax dollars on stadium deals?? — as another potential issue which left and right can agree on.

[Multicolored Lemur]

Bills push back deadline to finalize new stadium

Though talks are progressing, the deadline to finalize plans to build the Buffalo Bills' new $1.4 billion stadium have been pushed back by 45 days, negotiators announced on Friday.

www.espn.com

“ . . carrying an NFL-record $850-million taxpayer price tag was reached in March in what was called a memorandum of understanding. Numerous contractual details needed to be negotiated including the terms of a 30-year lease.

“Negotiations were delayed after Erie County legislators waited until July to discuss a community benefits package, which is part of the agreement to be funded by the Bills. . ”

And I think that’s what you try to do as a reality-oriented, mid-level public official. You try to see that your community gets some of the benefit, too. If you’re against the whole deal, you might as well be Don Quixote tilting at windmills.

So, New York taxpayers are on track to pay $850 million, out of a projected total price of $1.4 billion for the new stadium. So, somewhat more than half.

Wow.

For a business as profitable as the NFL? ! ? And other sports leagues do the same thing. They basically hold a community hostage with the threat of moving the team [more skillfully done if the threat is merely implied!].

So, yeah, I think there can be quite a bit of agreement between left and right on this one.

 

[AgnosticBoy]

For a business as profitable as the NFL? ! ? And other sports leagues do the same thing. They basically hold a community hostage with the threat of moving the team [more skillfully done if the threat is merely implied!].

That sounds about right. I've looked up in the issue and here's some info. from unofficial sources:

The biggest leverage that sports teams have is that they can threaten to leave for another city. There are more cities than sports teams and those who do not have them want them.

If a team leaves, it can hurt the chances of mayors and governors being re-elected. The 2008 move of the Seattle Supersonics to Oklahoma City ultimately ended up with Seattle’s mayor losing their re-election.

Therefore, many stadiums get built with public money in fear of the team leaving for somewhere else.

Source: Quora - Ian Isanberg's post.

And I think that’s what you try to do as a reality-oriented, mid-level public official. You try to see that your community gets some of the benefit, too. If you’re against the whole deal, you might as well be Don Quixote tilting at windmills.

Eventhough New York tax payers are on the hook for a large bill, but apparently they can still profit from it so it's like an investment:

They typically pay half and offer massive tax incentives. Football stadiums during the construction phase generates jobs. Then during games they generate ticket sales,merch sales, players salaries, staff. Hotels, restaurants etc… all generating income for the city. Then you have concerts, shows, conventions etc.. Every dollar spent is taxed. Over the 20-30 plus years of life of the stadium the city will make more money than lost during its construction.

- Quora - Mike Chang's post

I'll see what some of the more authoritative sources have to say.

 

[Multicolored Lemur]

About the 2008 move of the Seattle SuperSonics moving to Oklahoma City and becoming the Thunder . . .

There’s even one of the ESPN “30 for 30” documentaries for this.

And Clay Bennett who bought the team with initial promises to keep the team in Seattle and former NBA commissioner David Stern both come across in very unflattering terms.

 

[Multicolored Lemur]

The construction jobs sound like good high-paying jobs for maybe 5 years, maybe more.

The concessions and all that are more of the order of part-time jobs.

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Okay, they’ve done studies and I think they’ve found that professional sports teams are more of a net wash.

And that’s because sports tickets are paid for out of each individual’s “discretionary income.” And if the person wasn’t buying the tickets, he or she would most likely be buying something else locally.

 

[AgnosticBoy]

About the 2008 move of the Seattle SuperSonics moving to Oklahoma City and becoming the Thunder . . .

There’s even one of the ESPN “30 for 30” documentaries for this.

Thanks for the reference. I'll check it out.