Cities are slashing school budgets to pay for professional sports stadiums, and the NFL is still a nonprofit. An argument for cutting off all public funding for professional sports across the U.S., which could save taxpayers billions:
"Consider stadium subsidies. When Kubla Khan built his stately pleasure dome above a sunless sea, he did not strong-arm the Xanadu County Board of Directors into funding the project by threatening to move to Los Angeles. His mistake. He wouldn’t last five minutes as an American sports owner. According to Harvard professor Judith Grant Long and economist Andrew Zimbalist, the average public contribution to the total capital and operating cost per sports stadium from 2000 to 2006 was between $249 and $280 million. A fantastic interactive map at Deadspin estimates that the total cost to the public of the 78 pro stadiums built or renovated between 1991 and 2004 was nearly $16 billion. That’s enough to build three Nimitz-class nuclear-powered aircraft carriers. Or fund, in today’s dollars, 15 Saturn V moon rocket launches -- three more than the number of launches in the entire Apollo/Skylab program. It’s also more than what Chrysler received in the Great Recession-triggered auto industry bailout ($10.5 billion), and bigger than the 2010 GDP of 84 different nations. How does this happen? Simple. Team owners ask for public handouts and threaten to move elsewhere unless they get them, pitting cities against in each other in corporate welfare bidding wars -- wars rooted in the various publicly granted antitrust exemptions that effectively allow sports leagues to control and maintain a limited supply of teams to be leveraged against widespread demand."
PUBLISHED: Dec. 14, 2012
LENGTH: 18 minutes (4530 words)