Voting on Stadium and Arena Subsidies

‘Build It Here!’ An Examination of Pride Versus Economic Motivations of Citizens Voting for Public Stadium Financing

As new multi-million dollar professional sports stadiums and arenas are built every year in the U.S., the benefit of these facilities continues to be debated. Few would disagree that the professional team owner using the venue receives major benefits (such as increased revenues from new suites, amenities, etc.). However, there are widely varying opinions on the benefit to the community in which...

Private Financing and Sports Franchise Values: The Case of Major League Baseball

This paper examines the impact of receiving a new stadium on team franchise values. I argue that a new stadium will increase the franchise values of teams regardless of how construction was financed. A team playing in a stadium that it owns will be able to capitalize the value of the stadium in the team’s franchise value and will thus have a higher franchise value. Using panel data for Major Le...

Planning for Effective Risk Management: A Guide for Stadium and Arena Management

Are generous people more likely to vote?

Policymakers in the Unites States and many other countries encourage charitable giving through various subsidies. In the United States, for instance, charitable contributions can be deducted from taxable income making the price of giving inversely related to the marginal tax rate. However, the net effects of such subsidies can be better understood by exploring the relationship between generosit...

Localized economic impact of sports stadium construction

A growing trend throughout the United States is an increasing willingness of cities to publicly finance professional sports stadiums. The stadiums are justified by tangible economic benefits, either citywide or specific to a targeted region through a revitalization plan. The citywide economic impact arising from a new professional sports stadium, when analyzed empirically, has been consistently...