Essay about Who Should Fund Stadiums?

Essay about Who Should Fund Stadiums?

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The age old question of who should fund stadiums can create quite the argument, it will always be statement of opinion but it is still worth the research to assume which act of measure should take place when building a new stadium and arena. Questions and key words asked throughout this research project are: Who should fund stadium building? Financing of stadium building. Who should pay for stadiums? Funds for stadium and arenas. Paying for stadiums through the city. Franchise’s paying for stadiums. What is the best way to pay for stadiums? For purposes of research, I utilized the book as well as the internet, along with the school library’s database. I used these key words because I believe that though most of the words and searches differ, there will be and have been different triggers to find new research. It has given me different points of view that I believe to have help fuel a fire I needed to write this paper. Utilizing both the book and the internet insures that I receive different sources of knowledge and lets me get new information on the whole objective.

Ways to Provide Accurate Funding

The most common way to pay for stadium improvements is the issuing of tax exempt bonds. Bonds are a way for a city government to generate money needed for the construction of a new or the renovation of a sports facility or arena. Cities, counties, and state governments generally can issue bonds. The purchase of a bond by an investor provides the money needed for a stadium project, with the investor gaining tax free interest payments in return. Nobody likes the idea of having to pay taxes, and most municipal bonds provide a way to receive income free from federal, state and local taxes. I believe that in terms of stadium creation, con...

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... additional tax revenues that will be generated by the project. Estimates of income that will be generated and spent in the area are often overstated. Most of the money in sports goes to the owners and players who may or may not live in the city, which means that their money won’t even be spent in the city. Also, league rules often require ticket revenues be shared with franchise owners as a way to support teams in smaller markets. “In the case of the National Football League, every visiting team leaves town with 34 percent of the gate receipts from each game” (Zaretsky). Overall it is the cities voting decision which chooses who or what should pay for the funding and building of a new stadium facility. Whether they believe it is going to be profitable will be a decision they will have to take a chance and decide on to see how successful a future franchise could be.

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