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Economic impact study on sports facility
Benefits of stadiums in sport
Effects of sports stadiums on a city
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The purpose of this paper is to write about stadium subsidies. The stadium I chose to write about is the Lincoln financial field located in Philadelphia. The reason I chose to write about this stadium is because this stadium is close to my home plus the eagles play at this stadium, and I am a huge eagles fan. I was also told to choose two between the four questions.
What are the benefits to a town of building a new stadium? In my opinion there seems to be more benefits or more of a positive effect from a city building a stadium more than negative. According to the information that I’ve researched it’s one of the few stadiums that seems to have a lot of benefits especially after it was rebuilt.
Some of the benefits that comes with the Linc Field are such as the new stadium now contains a double amount of luxury seats as well as new wheel-chair accessible seats and more modern services. Also it is now open to a lot more sports other than football such as soccer, lacrosse and etc. The stadium has a huge impact on tourism as well which pretty much puts a lot more coin in the government’s pocket. More Jobs are now open to people who live in the city which is beneficial to the cities employment status. Businesses also benefit from stadiums. After every game or event fans rush to different restaurants, bars or etc. which contributes to both the city and the government.
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The negative effect of the stadiums being built is that the taxes of the residents increase. Also it can either ruin small businesses or help them depending what companies are involved. The positive of the stadium is it helps players get out into the community to do more for their city. The main point is the government won’t be effected as badly as regular citizens or
Ultimately, there are three exceptionally important criteria for deciding on good candidate for an expansion team. The first criterion is that the stadium must be controlled or owned by the baseball team. The stadium is a crucial aspect because most of the team’s revenue is generated in relation to the stadium. This stadium revenue comprises of ticket sales, parking, merchandise and concessions. Thus, without a stadium, the team will not be able to generate a stable source of revenue. The second criterion is that local ownership must have strong roots within the community. Without ties to the community, fan attendance could decrease. This is because fans could eventually perceive that the owner(s)’s only goal for the MLB franchise was to be profitable. The third criterion is the city must have long-term political support in the community. It is vital to have political support in order to gain financial support throughout the team’s years of existence, especially in tax payer monies. Particularly, this is significant when the team experiences issues or fights that involve the stadium and the land around the stadium. If there is a lack of political support, the expansion teams will not be able to obtain enough for money for stadium renovations, repairs, or to build new stadiums for the same team within the same city. This circumstance was apparent when the New York Yankees used tax revenue generated by New York City to fund the building of their brand new stadium for the 2009 season. Therefore, expansion committees believe it is necessary to confirm that the prospective cities will have enough political support because this political factor will help stabilize and financially support the prosp...
Siegfried, J., & Zimbalist, A. (2000). The economics of sports facilities and their communities. The Journal of Economic Perspectives, , 95-114.
Some of the most prolific franchises in sports, like the Oakland Raiders and Baltimore Colts of the National Football League, have moved to other cities breaking off their loyalty to the hometown fans. More important than the actual moves are the more frequent threatened moves. When teams “play the field” and explore the option of playing in other cities they are able to lure interested cities into giving them just about any royalty they want. New stadiums are only the beginning. The willingness to threaten departure has secured for teams a variety of land deals, lower taxes, more revenues from parking and concessions, control of stadium operations, guaranteed ticket sales, renovation of stadiums with luxury seating, control over neighborhoods and transportation systems, and that’s only the beginning of the list.
Football is all about money. Money is football. On the other hand, there is a case to be made for money having a positive effect on football. Some may argue that English football – not to mention the British economy – has benefitted hugely from the cash that has flowed into the game from commercial interests in the form of sponsorship, broadcasting rights and merchandising. If it was looked at as a normal business most people including football fans would likely be lauding the success of the Premier League which would be a massive business success.
There seems to be a domino effect through out the U.S., new stadiums are being built, teams are demanding that their city build them a new stadium to play in but it is not necessary to build these stadiums. The most obvious change in new stadiums is coming from baseball. In the last 10-15 years many new baseball stadiums have been built, but who is paying for these stadiums? The teams and the owners that are demanding the stadiums, or the taxpayers? The answer is that taxpayers are picking up a huge amount of the cost to build a new stadium.
...the citizens of the city socially. It will provide a great night life, as well as other entertainment venues that can be brought in for use of the stadium. However to sell a stadium in a city by claiming economic benefits involves many risks, it will most likely not benefit the city and its people to have a sports team in your city.
Mermal, Allison. "A Positions Against Public Funding of Professional Sports Stadiums." At What Cost. Aug, 5 1998. Available WWW: http://www.macalester.edu/~communic/course_projects/am.html
These small, mostly private schools are spending millions on Football fields, Gyms, indoor and outdoor tracks and student recreation centers. This battle seems almost unnecessary considering almost zero of these athletes will become professionals and in most cases athletics takes away around 20-25 hours of school work time to there student athletes. Looking at the research there seems to be three reasons why schools sell the idea of how a new facility can bring more then a large bill to the school. These points are first recruiting success that leads to athletic success and the enrollment bump in not only the student athletes but also the student population as a whole. Finally how the sch...
It is true that many cities are financing most if not all of the cost for new athletic complexes. The cost is, in the least, absorbable by the city. The urging of teams to force the pay for the cost of a stadium is a bluff, and should be called by the city. The Yankees will not leave New York and the millions of dollars in T.V., radio and merchandise licensing that a city of that stature can bring. The fact that cities are forced to pay for stadiums is a call for better negotiators for the city, not a reason not to build a stadium.
To explain the importance a sports team has on a city, a new avenue for future
The sports industry is a very big business that contributes great amounts to the economy in terms of turnover, taxes and jobs. The sports industry has an economic cycle. So it depends on different parts of the year to hold big events. The benefits to be gained are that local communities as suppliers of services and goods obtain increased business.
The games also impacted the downtown area of the city as much renewal took place in order for Atlanta to put its best face forward. A more attractive inner city area was the result. Improvements were made to public transportation, retail amenities and public areas such as parks and walkways.
College sports have become more popular throughout the past few years and the NCAA is doing an immense amount of money. This increase in money has caused colleges to become involved in this global debate over whether college athletes should be paid or not. Many athletes believe they should be paid for all their hard work, time, and dedication to the organization. Other people like, Kristi Dosh, believe that college athletes shouldn’t be paid because there are too many questions that haven’t been answered for them to join the opposing side. A lot of questions come up with this debate, like which athletes are going to get paid? Kristi Dosh is an author and an ESPN sports business reporter. Dosh wrote the essay, “The Problems with Paying College Athletes”, on June 9, 2011. This essay was published in Forbes which is a business magazine about sports and money. Kristi Dosh makes a somewhat convincing argument by asking a lot of questions to get her audience to realize how difficult this change is, however; she doesn’t do a very good job giving any citations or statistics to back up her statements. Ultimately, I think Dosh is convincing to her audience, but the weaknesses outweigh the strengths.
Firstly, being the host of a major sporting event such as the Olympics could actually benefit the hosting countries’ economic and cultural benefits of the Olympics. The Olympics have a very wide reach in this modern day with. This is a plus especially with the existence of today’s social media and the Internet. In the economic side, it could actually be a very powerful marketing and publishing tool for the host country. With all the present technology that is available nowadays, it actually is a good way to promote a certain country to the world. This eventually increase the economic level of the country that is hosting it, as they will receive visitors from all over the world and they will eventually spend their money to the host countries, thus improving their economics. Winbey (2014) states that the 1984 Los Angeles Olympics are somet...
Sports are loved by many people, it is not just a game to these people it is a way of life, the industry entertains society and gives them an escape from the norms of life. The continuing growth of the sports industry creates more jobs for people which keeps the economy strong and fewer people from unemployment