Time Inc.: Major league sports franchises keep getting publicly funded new stadiums

From Time Inc.:



Wisconsin Gov. Tony Evers approved $500 million in public aid for the Milwaukee Brewers’ ballpark renovation, joining a wave of such deals for professional sports teams. The trend is driven by the desire to keep up with rivals and new state-of-the-art stadiums, despite skepticism from economists about their benefits to local economies. Team owners seek new revenue from luxury amenities, and public entities are still paying off debt from previous stadium renovations. There are concerns that failure to approve new stadiums could lead to teams relocating elsewhere, and in some cases, teams have indeed secured significant public subsidies. The trend has led to public backlash, as some argue that public funding for stadiums isn’t worth it, and sports tend to divert discretionary spending. The majority of respondents view professional sports teams as a necessary component of communities, but fewer believe that state and local governments should provide public funds for sports stadiums. This is evident in the resistance from Kansas City fans against building a new Royals stadium, which led to thousands joining a Facebook site opposing the project. Despite the trend in stadium construction, public opinion on public financing appears to be mixed.



Original: Major league sports franchises keep getting publicly funded new stadiums