Admission That Was A Long Time in Coming
The Seattle Supersonics have finally admitted what rational folks have known for a long time: Billion dollar municipal stadiums are just taxpayer subsidies for already-rich players and owners, and do nothing for local economic development. Here is what the Sonics ownership stated in court papers (part of a case where they are trying to break their lease in Seattle):
"The financial issue is simple, and the city's analysts agree,
there will be no net economic loss if the Sonics leave Seattle.
Entertainment dollars not spent on the Sonics will be spent on
Seattle's many other sports and entertainment options. Seattleites will
not reduce their entertainment budget simply because the Sonics leave,"
the Sonics said in the court brief....Rodney Fort, a
professor of sports management at the University of Michigan, who has
criticized the economic-impact claims made by pro-sports teams, called
the Sonics' latest argument "the best chuckle" he's had in a long time.
Municipal stadium funding and team relocation blackmail as a prisoners dilemma game here.
My son learned of one additional downside this year to subsidizing an expensive stadium for the hapless Cardinals. He is a huge Cowboys fan, and there was to be a really good matchup in regular season this year that would be televised nationally (I can't remember which game, maybe the Packers regular season game). We did not get to see the game, because the local network was obligated to show the Cardinals game instead. If you have no team, you always get the best game on TV.
