Should the public be responsible for the cost of a new stadium in their city? It is a major question in today's society. In an article on pbs.org it states since the 1960’s, 91 sports stadiums have been built with public funding, 22 of them being fully paid for by the public
(Elaine S. Povich). Instead of having the franchise owner fund these stadiums, which seems very reasonable considering they own the team, the public spends their money on these enormous stadiums. Football stadiums can take years to build and the local communities will pay these taxes even after the team leaves that city in some cases. In another article from fox sports it tells us that in the last 2 decades, the public was responsible for 46% of the costs
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The owner would then have to privately fund the rest of the money.
Today, cities are not so quick to cough up a one hundred million dollar check to an owner.
They are able to tax the citizens through a loophole in the system. In an article by Jarrett
Stepman on dailysignal.com he talks about how team owners get tax exempt bonds, which are used for public projects, even though it is a private stadium that is part of the Privately owned NFL. In a poll done by KTNV-TV about Nevada taxpayers paying 500 million to build a new stadium in Las Vegas, 60 percent of the people opposed the funding (Jarrett Stepman).
The problem people have is that the owners pay no rent on their new stadium, and have it made tax free, but make revenue off the public by taxing them for food, parking, and anything else they need in order to come to a game.
In the 1990’s the Cincinatti Bengals owner threatened to move the team to a new city if a new stadium was not built. Consequently, the public paid up about half of the 450 million in took to build the new stadium through local taxes. The new stadium improved the Bengals worth by more than 600 million dollars but it did not help the public. The new upgrades to
(Elaine S. Povich). Instead of having the franchise owner fund these stadiums, which seems very reasonable considering they own the team, the public spends their money on these enormous stadiums. Football stadiums can take years to build and the local communities will pay these taxes even after the team leaves that city in some cases. In another article from fox sports it tells us that in the last 2 decades, the public was responsible for 46% of the costs
to …show more content…
The owner would then have to privately fund the rest of the money.
Today, cities are not so quick to cough up a one hundred million dollar check to an owner.
They are able to tax the citizens through a loophole in the system. In an article by Jarrett
Stepman on dailysignal.com he talks about how team owners get tax exempt bonds, which are used for public projects, even though it is a private stadium that is part of the Privately owned NFL. In a poll done by KTNV-TV about Nevada taxpayers paying 500 million to build a new stadium in Las Vegas, 60 percent of the people opposed the funding (Jarrett Stepman).
The problem people have is that the owners pay no rent on their new stadium, and have it made tax free, but make revenue off the public by taxing them for food, parking, and anything else they need in order to come to a game.
In the 1990’s the Cincinatti Bengals owner threatened to move the team to a new city if a new stadium was not built. Consequently, the public paid up about half of the 450 million in took to build the new stadium through local taxes. The new stadium improved the Bengals worth by more than 600 million dollars but it did not help the public. The new upgrades to