Determining how to fund a sports stadium is a controversial topic. The controversy arises from whether public funds should be used to finance a stadium. Many argue that billionaire owners shouldn’t be requesting public funds, and instead stadiums should be privately funded. Contrastingly, some are content with stadium subsidies and feel that a sports stadium is a valuable asset to the city. The purpose of this paper will to be determine the extent of state and local government involvement for a new Buffalo Bills stadium. On average, 33% of financing for NFL stadiums comes from public funding, with the highest being 86% (Collins, 2010). Increasing taxes on hotel and car rental are the two most common forms of allocating public funds for stadiums (Collins, 2010). This funding generally comes from the county, rather than the state (Collins, 2010). Taxes …show more content…
If sufficient funds are not provided, they can threaten relocation (Alekshandra, 2016). Owners will then move to another city which offers financial incentives that their previous city was lacking. Creating a form of corporate welfare that benefits the owner. This leads to lopsided deals that are generally in favor of the owner, rather than the city (Alekshandra, 2016). Therefore, it is important to determine whether publicly funding a stadium is a worthwhile investment. Publicly funding a stadium brings some appealing benefits to the city. Included in these benefits is ensuring the stadium remains in the city, bringing more jobs, and the ability to lease the stadium (Alekshandra, 2016). This opens the capability for the city to utilize the stadium for events such as concerts, graduations, alternative sporting tournaments, and festivals (Alekshandra, 2016). The stadium is a bastion for economic development. Additionally, the city is able to utilize the stadium’s vast parking lot for
Siegfried, J., & Zimbalist, A. (2000). The economics of sports facilities and their communities. The Journal of Economic Perspectives, , 95-114.
Today there are over 450,000 college athletes and the National College Athletics Association (NCAA) faces a difficult decision on whether or not college athletes should be paid. Many people believe that they should and many believe they should not. There are several benefits that college’s athletes receive for being a student athlete. Why should they receive even more benefits than their scholarship and numerous perks?
There is a nationwide trend in which taxpayers are asked to pay for new stadiums these stadiums benefit a single corporation. A sport construction boom has started, these new stadiums cost a minimum of $200 million to build, but usually cost much more. New stadiums have been built, or are underway, in New York, Pittsburgh, Dallas, Baltimore, Cincinnati, Seattle, Tampa, Washington DC, St. Louis, Jacksonville, and Oakland. This competitive trend replaces old stadiums with high tech flashy stadiums used exclusively for one sport. These stadiums are unnecessary, and not cost efficient. Most of the time new stadiums are not used for multi-purposes, they bring in money exclusively for the professional league and not ...
The scholarships given to college athletes are not sufficient enough to sustain them throughout the year, which is why I believe they should get paid and receive benefits. Student athletes, especially football and basketball players, play a major role in generating revenue for schools, businesses, coaches and the players do not see a penny. College athletes often do not have money in their pockets for extra food, clothes, housing and extracurricular activities. They also can potentially get dropped from their teams due to injury, leaving them incapable of paying for college. College athletes should be treated like every other employee because they work hard, and make everyone but themselves a lot of money.
In today’s society, one of the big controversies with sports is, should student athletes be be paid a salary? Some people believe that they should be paid and others would completely disagree. Even though they technically are being paid, they really are not. The only type of way the athletes would be paid is through financial aid or if they have a job. Only their education is being paid by the school. Although some people believe that they should be paid, it would not be a good idea at all. So college athletes should not be paid at all because they are basically being paid to study and play a sport.
Where is the money these athletic programs are earning going? There are many different categories in which a college program needs to put their money in order to create the best profit they can for the next
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...
The construction taking place in Brazil for the World Cup and Olympics can be closely related to urban development projects (UDPs). According to Swyngedouw (2002), “physical reconstruction and economic recovery tend to go hand in hand” (p. 577). However, UDPs do not affect all residents the same. Similar to the marginalization that takes place during preparation for mega sporting events, UDPs also have a history of increasing “physical and social fragmentation” (Swyngedouw, 2002, p. 577). UDPs are also notorious for the special regulations they receive which enables the timely completion of such projects. Brazil’s preparations for these two mega events have been given special priority and little can stand in the way of the construction.
Should college athletes be paid just because people make money off of them? The answer is yes, the amount of work college athletes put into their sport when their sport is in season is more than the average worker in america. The NCAA makes more money of their college athletes than the NBA and the NHL combined. The athletes get none of this profit that they so dearly deserve. At least the professional athletes are making money off of them being broadcasted on national television weekly and sometimes dailey.
College athletes are undoubtedly some of the hardest working people in the world. Not only are they living the life of an average student, they also have a strenuous schedule with their specific sport. One of the most discussed topics in the world of college athletics is whether or not student-athletes should be paid money for playing sports. The people who disagree with the idea have some good arguments to make. Primarily that the athletes get to go to school for free for playing sports. Another argument is that if student-athletes were to get paid then it would ruin the amateurism of college sports. People who are against paying the athletes do not want to see the young people become focused on money. “Paying student-athletes would dramatically shift their focus away from where it should be - gaining knowledge and skills for life after college” (Lewis and Williams). This is very understandable because one of the biggest reasons college sports are so popular is because the athletes play for school pride and for bragging rights. They play because they enjoy the game, not because it is their job. Most people that disagree with the idea of paying the athletes fail to realize what really goes on behind the scenes. At most Universities around the country the bulk of the income the school receives is brought in through the athletic programs. In fact the football and basketball teams usually bring in enough money to completely pay for the rest of the athletic programs all together. To get a better understanding of how much has changed in the world of college sports a little history must be learned.
November 6, 1999 the doors opened for the first time to Pacer fans. Fans roamed the corridors and were able to see how the over-budget, 15 story high, $183 million dollar facility was going to pay off for Indianapolis. Of the $183 million the Pacers are responsible for $57 million. This comes from their pockets of team revenue. The city, through local tax, will cover $79 million. This money will be collected via the tax district, hotel-motel tax, and built in ticket tax. The Tax district is a tax that is placed on the area surrounding the Fieldhouse. Local businesses and Circle Center Mall residents will be taxed for the beneficial increase in customers in the area due to the new facility. The Hotel-Motel tax is placed on existing and new hotels in the area. This tax is added to the cost of nightly stays in the hotels that fans may be using while attending functions at Conseco Fieldhouse.
Financial aspects and profitability of college athletic programs is one of the most important arguments involved in this controversy. A group of people expresses that college athletic programs are over emphasized. The point they show on the first hand, is that athletic programs are too expensive for community colleges and small universities. Besides, statistics prove that financial aspects of college athletic programs are extremely questionable. It is true that maintenance, and facility costs for athletic programs are significantly high in comparison to academic programs. Therefore, Denhart, Villwock, and Vedder argue that athletic programs drag money away from important academics programs and degrade their quality. According to them, median expenditures per athlete in Football Bowl Subdivision were $65,800 in 2006. And it has shown a 15.6 percent median expenditure increase fro...
...port. As it now stands, they are as good as disenfranchised- a vast number of the taxpaying public who will never set foot inside these stadiums and arenas” (as cited in Jarvie, 2012).
Bissinger states in his essay that local high schools these days are spending millions of dollars on things such as elaborate stadiums, gymnasiums and even chartered planes to transport their team to big play-off championship games. In the past, schools would sponsor fundraisers to RAISE the money for these t...
Sports are one of the most profitable industries in the world. Everyone wants to get their hands on a piece of the action. Those individuals and industries that spend hundreds of millions of dollars on these sports teams are hoping to make a profit, but it may be an indirect profit. It could be a profit for the sports club, or it could be a promotion for another organization (i.e. Rupert Murdoch, FOX). The economics involved with sports have drastically changed over the last ten years.