Over the years there have been many new state of the art sports stadiums that have been built in the United States. In fact from 1993 until 2013 there were 101 new sports facilities built on American soil, most notably AT&T Stadium (formally known as Cowboy Stadium) home to the Dallas Cowboys in 2009. Owner of the Cowboys and AT&T Stadium, multi-billionaire Jerry Jones set a new precedent in regards to sporting facilities but the one thing that AT&T stadium has in common with almost all of the other sporting facilities built over the past 20 years, is that they all received direct public funding. The typical justification for a large public investment to build a stadium for an already wealthy sports owner has to do with creating jobs or growing the local economy. Although the opening of new sporting facilities provides many opportunities, according to Aaron Gordon, not only are most of the jobs created by stadium-building projects are either temporary, low-paying, or out-of-state contracting jobs none of which contribute greatly to the local economy and are known as poor public investments. The research intends to explore if publicly funded sporting facilities are a poor use of the millions of dollars drawn out from the public.
Preceding the review there are several key terms that must be explained. Bonds are the most common way for a city or county to generate the needed money that is a debt investment in which an investor loans money to an entity that borrows the funds for a defined period of time at a fixed interest rate (Sawyer, 2006). Hard Taxes include taxes on income, real estate, personal property and general sales. Hard taxes frequently entail voter’s authorization, because the burden of payment fall direct...
... middle of paper ...
Kosik, M. (2011). Funding options for sports organizations. Sport Science Review, XX, 161-170.
Long, J. (2005). The Real Cost of Public Funding for Major League Sports Facilities . Journal of Sports Economics, 119-141.
Rebeggiani, L. (2006). PUBLIC VS. PRIVATE SPENDING FOR SPORTS FACILITIES - THE CASE OF GERMANY. Public Finance and Management, 424,429-435.
Santomier, J., & Gerlach, J. (2012). Public policy and funding new york's new sports venues. Sport, Business and Management, 241-262. .
Sawyer, T. H. (2006). Financing facilities 101. Journal of Physical Education, Recreation & Dance, 23-28.
Siegfried, J., & Zimbalist, A. (2006). The Economic Impact of Sports Facilities, Teams and Mega-Events. Australian Economic Review, 420–427.
Skoric, S., Bartoluci, M., & Custonja, Z. (2012). Public financing in croatian sport. Financial Theory and Practice, 179-197.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Financial Management: The success and viability of a large sporting venue is strongly determined by its financial position. Money is needed in order to plan, build, open, operate and maintain such facilities (Fried, 2015). Finance involves utilising numbers obtained by accountants regarding revenue and expenses to in order to determine the facility’s future direction; this is based on past financial information and project financial performance (Fried, 2015). Financial management at sporting venue involves ensuring that the venue is profitable and operates effectively within the resources it is allocated.... [tags: Marketing, Marketing plan, Marketing research]
1092 words (3.1 pages)
- The amount of money to operate for sports events are increasing every year, such as FIFA World cup, ICC Cricket world cup, FedEx cup, UEFA Europa League, the world series, Super Bowl, UEFA Champions League, Asian Games, Winter and summer Olympic and even Paralympic as well. Sporting events are parties that break from daily routine. But, these days, sports events are not just a big event to enjoy or team competes against others. Global Sports events became a turning point for host country, which have been rise for years.... [tags: Olympic Games, 2008 Summer Olympics]
1070 words (3.1 pages)
- Competition is in nearly every aspect of American life. Some may even say that American culture thrives on competition. Throngs of spectators herd into public arenas to watch favorite sports teams compete. Parties are hosted to watch televised competitive sporting events. Businesses coerce consumers to enter shopping facilities through the means of competitive sales ploys. It is only natural that the competitive spirit extends into the education arena. Americans strive toward having the best education system in the world.... [tags: Unequal School Funding]
2683 words (7.7 pages)
- Funding State Facilities Marvin L. Whitfield The University of Texas & Arlington Marvin L. Whitfield, Department of Educational Leadership and Policy Studies, The University of Texas at Arlington. EDAD 5384.011- Resource Management Fall FUNDING STATE FACILITIES To fund state school facilities in Texas districts must go through the process of setting up a bond election. Although bonds can be used for school purchases such as busses, technology, and land, the main use for bond elections are for public schools to finance new buildings, or to renovate buildings.... [tags: Election, Elections, Voting, Voter turnout]
728 words (2.1 pages)
- In today’s society, we often times have many suggestions that we make to help with problems we may not understand. One particular problem that I believe we should be focusing on is our correctional facilities. I believe that the biggest problem when dealing with the correctional facilities is the funding issue. I believe that if we increase our funding to our correctional facilities, you’ll see a better turn around for employees, inmates being rehabilitated, and better quality of life. With low funding to our correctional facilities, we are missing out on tremendous opportunities.... [tags: Prison, Corrections, Criminal justice, Penology]
1528 words (4.4 pages)
- This paper will discuss how Sporting Heritage engenders national and group identities. The topics related too in this paper, are the types of identity represented by sporting Heritage, as sporting heritage has the ability to represent groups and entire nations across the world. Sport is a fundamental part of British and world culture and is an important aspect of modern life. This topic is relevant to recent trends within modern interest as it touches upon numerous essential museum issues, for instance questions related to sport having not always being perceived as real heritage by academics and furthermore the recent inclusion of sport in academic discussion, due to until fairly recently sp... [tags: Sporting Heritage Essays]
3387 words (9.7 pages)
- Airports are vast facilities covering many acres of land where passenger beginning the flight portions of their travels. The first flight by the Wright brothers in Kitty Hawk, NC in 1903 only required a runway. As the technology of flight advanced to offer passenger service, there was soon a need for a building to manage passenger needs. Airports of today provide many key services needed for the traveler whether they are beginning, transferring, or ending their journeys. The demand for air transportation rises each year, according to the Department of Transportation (United States Department of Transportation, 2013) 815.3 passengers traveled by airplanes in 2012.... [tags: Airports, Travel Facilities, Passengers, Flights]
1276 words (3.6 pages)
- School funding is a recurring issue in the modern era. Debates ranging from give schools more money, to get rid of the system in place and reform a new idea have been plaguing the world over the years. “The American Recovery and Reinvestment Act, signed in 2009, provided more than $100 billion in education aid to offset budget cuts..” (School Finance). Later, “Congress provided an additional $10 billion in 2010 to avert mass teacher layoffs (Education Week, "Total Recovery Act")” (School Funding).... [tags: School Districs, Funding, Educational Systems]
1496 words (4.3 pages)
- Introduction In 1899, the juvenile justice court system began in the United States in the state of Illinois. The focus was intended to improve the welfare and rehabilitation of youth incarcerated in juvenile justice system. The court mainly was focused on the rehabilitation of the youths rather than punishing them being that they still have immature ways and still growing. Specialized detention centers, youth centers, and training schools were created to treat delinquent youth apart from adult offenders in adult facilities.... [tags: rehabilitation, detention facilities]
1041 words (3 pages)
- There is a vast array of health care benefits that are offered in Australia in which many people benefit from such as the regulation of health products, workforce and health services as well as public dental care. These health care benefits are funded to ensure that the appropriate benefits are given out. Primarily, the funding strategies for the provision of Australian health services are managed by the Australian Federal Government as well as both State and Territory governments with the contributions of citizens and residents within Australia.... [tags: Health Care Funding Strategies ]
1169 words (3.3 pages)