Sports and the City

If there is one thing most of us can agree on, the professional sports industry is fueled by money. Fan-based revenue is one of the major sources of income, and they need a place to call home. This week Nimo and Jas investigated the impact of sports stadium construction deals on cities, specifically the San Francisco 49ers Levi’s Stadium that opened in 2014. The average cost of an NFL stadium is $1.2 billion. Should local taxpayers and governments be responsible for paying for a portion of the costs? And is the perceived economic benefits of the stadium a valid argument why the public should chip in on the bill? Press play to hear:The sports economics literature on why or why not cities should invest in sports stadiums.History of the San Francisco 49ers team, locations, and impact compared to other NFL teams.A deep dive into the stadium deal between Santa Clara and the SF 49ers, including the initial ballot measure, project costs, and funding distribution by each party.Alternatives for funding and constructing sports stadiums with less public resources.Thank you for listening and tune in every-other Tuesday where Nimo and Jas keep it Four Degrees to the Streets.Follow us on Twitter and Instagram @the4degreespod.Or send us an email to connect with us!Resources:How are we funding professional sports stadiums? An overviewDo Economists Agree on Anything? Yes!The Economics of Sports Stadiums: Does public financing of sports stadiums create local economic growth, or just help billionaires improve their profit margin?Forbes: Sports Money: 2020 NFL ValuationsTruth in Accounting: Financial State of Cities 2020Bayview–Hunters Point, San FranciscoNational Building Museum: Documenting Crossroads: The Coronavirus in Poor, Minority CommunitiesGame On: 49ers Stadium Measure Wins Approval – NBC Bay AreaLevi's Stadium: 49ers happy, Santa Clara may be on the hookSanta Clara Stadium for the 49ers, Measure J (June 2010)Hidden Subsidies and the Public Ownership of Sports Facilities: The Case of Levi's Stadium in Santa ClaraSanta Clara Stadium Authority Financial ReportsWhat Can We Learn From Four Stadium Deals That Don't Suck?Is There a Better Public Financing Option for Building Stadiums?Gillette Stadium: A Family of Businesses