Tell me why should the federal government give huge US tax payer welfare subsidies to the Washington Nationals and New Orleans Saints to build a new stadium and repair the Super Dome?Evidentally pro sports are a terrible financial investment where private banking or people buying stock wouldn't want anything to do with owning a piece of the team.Owning a pro sports team is like you having a hobbie like fishing where you make your neighbors pay for your boat,motor and trailer.
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the issue is one of positive externalities. Simply put: State (and sometimes Federal, although VERY rarely) money will go to private businesses that provide a large benefit to the state merely by there very existence. Although corruption can be a problem the basic premise that an area would rather have a professional sports franchise as opposed to not having a professional sports franchise. The sports leagues know this and use that fact to lower the costs the leagues have to pay for things like stadiums.Comment -
if you have a winning franchise like the yankees, people from all over the world are coming to nyc...that certainly boost the tourism revenue. can't say that about the saints. maybe the gov is investing for the long run
st. louis gov paid for the new card stadium, and they're shit this year, but still it is best baseball team in that area (but not that much better than the royals this year, imo).
i think those owners paid lobbyists to convince the policy makers that it is a great idea.Comment
