Reply to NFL Commanders building $3bn new stadium in Ward 7 on the old RFK site

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Every single independent analysis (that is, not done by consultants paid to come up with the "right" answer) finds that it's a boondoggle.

Taxpayers Shoulder a Heavy Burden for Sports Stadium Subsidies
https://taxfoundation.org/blog/sports-stadium-subsidies-taxpayers/

Team owners looking to build or revamp big league sports stadiums often seek public funds in the hundreds of millions of dollars. But research conducted over decades indicates these investments almost never lead to massive economic gains for host cities.
https://journalistsresource.org/economics/sports-stadium-public-financing/

In every case, the conclusions are the same. A new sports facility has an extremely small (perhaps even negative) effect on overall economic activity and employment. No recent facility appears to have earned anything approaching a reasonable return on investment.
https://www.brookings.edu/articles/sports-jobs-taxes-are-new-stadiums-worth-the-cost/

They claim that stadium subsidies are justified because they provide economic benefits to the communities where they’re built. But in reality, stadiums are terrible economic development tools.
https://economicaccountability.org/get-informed/stadium-subsidies/

The idea that sports is a catalyst for economic development just doesn’t hold water.
https://www.stlouisfed.org/publications/page-one-economics/2017/05/01/the-economics-of-subsidizing-sports-stadiums

But do the economic benefits generated by these facilities—via increased tourism, for example—justify the costs to the public? Chicago Booth’s Initiative on Global Markets put that question to its US Economic Experts Panel. Fifty-seven percent of the panel agreed that the costs to taxpayers are likely to outweigh benefits, while only 2 percent disagreed—though several panelists noted that some contributions of local sports teams are difficult to quantify.
https://www.chicagobooth.edu/review/what-economists-think-about-public-financing-sports-stadiums[/quote]
[twitter]https://x.com/granthpaulsen/status/1916914519474934116?s=46&t=kf1qYlCXQnKgUhJWEIu2vg[/twitter][/quote]

This is juked / fake data because of the alleged “$4 billion” total cost.[/quote]

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