Dear Governments: Before making any new financial commitments to a new stadium…

…Please ensure that you re-read and understand this roundup of what the research has to say on the public funding of new stadiums and sports facilities. Some of the key findings included:
 

  • Governments “realize only a small, if any, direct financial return—which in any case is dwarfed by the debt service, maintenance, sanitation, security, and opportunity costs incurred.” (Seigfried and Zimbalist, 2002)

 

  • “[S]tadiums, arenas and sports franchises have no consistent, positive impact on jobs, income, and tax revenues” and subsidies are “difficult to justify” (Coates and Humphreys, 2008)

 

  • [U]sing public funds to subsidize stadium construction limits the availability of funds for essentials such as education, police, streets and water.” (Asselin, 2006)
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About theviewfromseven
A lone wolf and a bit of a contrarian who sometimes has something to share.

3 Responses to Dear Governments: Before making any new financial commitments to a new stadium…

  1. Mr. Nobody says:

    Therte is a better way to do it. They just don’t want to engage in the conversation.

    Fractional ownership allows citizens to invest their own money in the venture. This is not a share offering ala Green Bay, this is direct ownership.

    Perhaps a template of how all stadiums could be funded without massive government funding so a few private interest benefit ala MTS Centre../ CanWest park

  2. Sophia says:

    Your findings may be short statements but their strength & impact is incredible.

    I already posted this on Walter’s blog (One Man Committee), but it would be a dream if we re-did the whole thing in the form of an open competition to firms & students in the city. Of course, if we were to ever have an initiative like that (I will take full credit for the idea, please do not delete this comment), the end result would not be a stadium. It would be a multitude of projects that would be easier to justify and actually do have a consistent positive impact on jobs, income, and tax revenues.

  3. Mr.Nobody says:

    Sounds good Sphia, I’ve completed mine 2 years ago ( Toews wasn’t biting at the time )

    http://members.shaw.ca/WinnipegStadium

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