People wonder why we're in a "depression". They question taxes, health care, and job employment. Blame goes towards politicians, the president, political parties, and every one else within arms length; but why don't people question how our tax dollars fund sports stadiums?
The answer is simple. Owners and teams "threaten" to leave their city unless they get a city-funded facility, and a major sports team (whether winning or losing) can stimulate even the weakest economy. But when an owner has 7 other companies and makes $50 million a year in growth, why can't he pay for the stadium out of his own pocket. The fans pay for tickets to sit in "their" arena, buy over-priced refreshments, and spend millions a year in memorabilia. While in return the players get more money than the average family makes in 5 lifetimes, and the owners almost never fail to garner a hefty profit.
AEG built a future Los Angeles NFL stadium, hoping to be the future home to an NFL team. Farmers Insurance will pay $700 million over 30 years for naming rights to this as-yet-nonexistent stadium, plus an additional $300 million if it plays host to two NFL teams. The naming rights to a stadium is worth a potential amount of $1 billion, and it is doesn't even house a team yet. AEG did not need the city to issue bonds for $350 million, saving the tax payers that burden of debt. The Jets and Giants jointly built the "New Meadowlands" in New Jersey, housing both New York football teams. It was deemed the most expensive stadium in the world, costing $1.6 billion to create. Surely within due time the naming rights for this arena will go for a high price tag. Long term offers have been rumored through companies such as AshleyMadison.com and Allianza.
The financial situations of teams is already being question, most recently with the storied LA Dodgers. Owners right off trips to Europe on their private jets as a scouting expense and thus pay a lot less in taxes each fiscal year. It doesn't matter if these funds weren't "designated" for education or health care, re-allocate them; spend those millions of dollars are improving the economy, employing more workers, and proving aid for the poor. The league offices of each sport should not allow a franchise to move solely on the basis of threatening the tax payers for funding. The fans bring enough money into the pockets of owners and players, who live like Kings, they shouldn't have to fund their palaces as well.
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