How the NFL Fleeces Taxpayers with Stadiums

[OutHouse]

its shocking how much tax money is being spent on pro football. the youtube link with John Oliver really nails it and is really worth it to watch.


https://www.youtube.com/watch?v=xcwJt4bcnXs


http://www.theatlantic.com/magazine/archive/2013/10/how-the-nfl-fleeces-taxpayers/309448/

In Minnesota, the Vikings wanted a new stadium, and were vaguely threatening to decamp to another state if they didn’t get it. The Minnesota legislature, facing a $1.1 billion budget deficit, extracted $506 million from taxpayers as a gift to the team, covering roughly half the cost of the new facility. Some legislators argued that the Vikings should reveal their finances: privately held, the team is not required to disclose operating data, despite the public subsidies it receives. In the end, the Minnesota legislature folded, giving away public money without the Vikings’ disclosing information in return. The team’s principal owner, Zygmunt Wilf, had a 2011 net worth estimated at $322 million; with the new stadium deal, the Vikings’ value rose about $200 million, by Forbes’s estimate, further enriching Wilf and his family. They will make a token annual payment of $13 million to use the stadium, keeping the lion’s share of all NFL ticket, concession, parking, and, most important, television revenues.

the Mercedes-Benz Superdome. (All monetary figures in this article have been converted to 2013 dollars.) The Saints’ owner, Tom Benson, whose net worth Forbes estimates at $1.2 billion, keeps nearly all revenue from ticket sales, concessions, parking, and broadcast rights. Taxpayers even footed the bill for the addition of leather stadium seats with cup holders to cradle the drinks they are charged for at concession stands. And corporate welfare for the Saints doesn’t stop at stadium construction and renovation costs. Though Louisiana Governor Bobby Jindal claims to be an anti-spending conservative, each year the state of Louisiana forcibly extracts up to $6 million from its residents’ pockets and gives the cash to Benson as an “inducement payment”—the actual term used—to keep Benson from developing a wandering eye.

 

[manimal]

Been saying this for years.

 

[maddogchen]

Just like FIFA and the Olympics. Pray your city doesn't ever get either

 

[NutBucket]

And this is why LA doesn't have a team...and that's OK. I think the most we did for AEG when building Staples' Center was some tax breaks and/or loans. That's not bad. That goodness LA voters aren't stupid enough to support throwing millions at pro sports.

EDIT: And I say this as a fan!

 

[Homerboy]

A city also loses a shit-ton of money if they lose a professional sports team. There's "corporate welfare" for nearly every business sector. Yet when it comes to sports, people bitch and moan to no end.

What is hypocritical of John Oliver (whom I LOVE) is that the very taping of his show receives tax relief in NYC.

 

[Phokus]

There needs to be a federal law against shit like this. The problem is, team owners are so adept at making threats about moving teams. This is why LA doesn't have an NFL team and might never will, it's the greatest bargaining chip for small market teams who threaten to move the team away if they don't get state/city concessions.

 

[Brainonska511]

As I said elsewhere:

God damn rich welfare billionaires. Always looking for a handout from the public coffers. And the stupid public eats up the bullshit line about economic gain every fucking time.

And the hypocrisy is deafening when it comes to who needs welfare. Rich billionaire sports owners in "need" of a new stadium? Where do we sign? Poor people in need of food stamps? Well, those people should be working more than the 3 minimum wage jobs they already have. 🙄

A city also loses a shit-ton of money if they lose a professional sports team. There's "corporate welfare" for nearly every business sector. Yet when it comes to sports, people bitch and moan to no end.

Yeah, if a team leaves a city like San Diego, there will just be no reason to ever visit San Diego 🙄. With no economic benefit to having a sports team, coupled with the tons of money that cities are spending to keep a team in place (instead of spending it on the city itself), it would probably be a net gain for a city if they told some of these teams "goodbye, and don't let the door hit you on the way out."

 

[Sonikku]

the Mercedes-Benz Superdome. (All monetary figures in this article have been converted to 2013 dollars.) The Saints’ owner, Tom Benson, whose net worth Forbes estimates at $1.2 billion, keeps nearly all revenue from ticket sales, concessions, parking, and broadcast rights. Taxpayers even footed the bill for the addition of leather stadium seats with cup holders to cradle the drinks they are charged for at concession stands. And corporate welfare for the Saints doesn’t stop at stadium construction and renovation costs. Though Louisiana Governor Bobby Jindal claims to be an anti-spending conservative, each year the state of Louisiana forcibly extracts up to $6 million from its residents’ pockets and gives the cash to Benson as an “inducement payment”—the actual term used—to keep Benson from developing a wandering eye.

If only Republican's cared as much about ending corporate welfare as they do about welfare for struggling Americans.

 

[Brainonska511]

If only Republican's cared as much about ending corporate welfare as they do about welfare for struggling Americans.

That's because it's not welfare when you're giving money to rich people.

 

[BoberFett]

If only Republican's cared as much about ending corporate welfare as they do about welfare for struggling Americans.

You're a partisan fucktard of the highest order. This was a bipartian reaming, Democrats were cheerleading this in Minnesota.

People didn't want the stadium, but Democrats insisted "BUH BUH BUH GOVERNMENT FUNDED JOB CREATION!!!!!"

The Democrats love morons like you, who believe anything bad must be the Republicans fault. Democrats can do any crooked thing they want and you'll just keep sucking them off.

http://www.twincities.com/ci_20446171/minnesota-senate-panel-revives-vikings-stadium-bill

http://www.twincities.com/ci_20504387/vikings-stadium-democrats-urge-gop-leadership-bring-bill

http://www.minnpost.com/data/2012/05/house-stadium-bill-how-they-voted

http://www.minnpost.com/data/2012/05/vikings-bill-how-senate-voted

Look at all those DFL votes, you dipshit.

Oh look, here's how the Republicans were trying to block the stadium from the DFL who wanted it.

http://www.startribune.com/house-republicans-block-dfl-move-on-vikings-stadium/148175985/

Can Democrats get any dumber?

 

[s0me0nesmind1]

You're a partisan fucktard of the highest order. This was a bipartian reaming, Democrats were cheerleading this in Minnesota.

People didn't want the stadium, but Democrats insisted "BUH BUH BUH GOVERNMENT FUNDED JOB CREATION!!!!!"

The Democrats love morons like you, who believe anything bad must be the Republicans fault. Democrats can do any crooked thing they want and you'll just keep sucking them off.

http://www.twincities.com/ci_20446171/minnesota-senate-panel-revives-vikings-stadium-bill

http://www.twincities.com/ci_20504387/vikings-stadium-democrats-urge-gop-leadership-bring-bill

Well, I mean, he is right... All the sports arena's are in the south only. You guys don't have any football stadiums, basketball stadiums, baseball stadiums, hockey stadiums or soccer stadiums up north, do you?

 

[s0me0nesmind1]

In all seriousness, I think this is a little overblown. There are some cities that are stupid as rocks, but you need to account for more than just the cost of the stadium. Just think of how much state/local tax revenue is generated for all of the things revolving around a successful sports team:

1. Stadiums selling out 100,000+ tickets every game, all year long. Used for other events as well (concerts, rodeo, monster trucks, etc.. etc.. etc..)
2. Drinks/Food/Concessions at the events. We all know how fun it is paying $15 for a bud-light or $10 for a coke.
3. Advertisements / Business Relations
4. Sports Memorabilia - Sold everywhere from Walmart to Target to Department stores with the team logo plastered everywhere.
5. Taxes on the players. If you have a $100 million dollar player, guess what? He has to pay state taxes with that paycheck.

I'm not saying it's amazing, I'm just saying I believe there is more to the story than people realize. I do believe a good sports team can be a good investment. Many of the effects are indirect and unaccounted for.

If a sports team sucks, no one shows up to the game, no one buys the memorabilia, which is much less tax revenue. That doesn't mean you can build a sports arena in the middle of the Amazon (*cough* Brazil *cough*) and call it a good investment.

 

[BoberFett]

In all seriousness, I think this is a little overblown. There are some cities that are stupid as rocks, but you need to account for more than just the cost of the stadium. Just think of how much state/local tax revenue is generated for all of the things revolving around a successful sports team:

1. Stadiums selling out 100,000+ tickets every game, all year long. Used for other events as well (concerts, rodeo, monster trucks, etc.. etc.. etc..)
2. Drinks/Food/Concessions at the events. We all know how fun it is paying $15 for a bud-light or $10 for a coke.
3. Advertisements / Business Relations
4. Sports Memorabilia - Sold everywhere from Walmart to Target to Department stores with the team logo plastered everywhere.
5. Taxes on the players. If you have a $100 million dollar player, guess what? He has to pay state taxes with that paycheck.

I'm not saying it's amazing, I'm just saying I believe there is more to the story than people realize. I do believe a good sports team can be a good investment. Many of the effects are indirect and unaccounted for.

If a sports team sucks, no one shows up to the game, no one buys the memorabilia, which is much less tax revenue.

The math has been done. Publicly funded stadiums are money pits.

But the Democrats wanted to bend the citizens over up here in True Blue Minnesota, and they got what they wanted.

 

[s0me0nesmind1]

The math has been done. Publicly funded stadiums are money pits.

But the Democrats wanted to bend the citizens over up here in True Blue Minnesota, and they got what they wanted.

Give me some math on the most successful Football teams accounting for all those elements - with a large fanbase. I've heard nothing but cherry picking with no back-up of where the data comes from or what it accounts for.

Example: Dallas Cowboys.

 

[BoberFett]

Give me some math on the most successful Football teams accounting for all those elements - with a large fanbase. I've heard nothing but cherry picking with no back-up of where the data comes from or what it accounts for.

Example: Dallas Cowboys.

Wait, you're complaining about cherry picking, but then only want to evaluate the most popular teams? That only makes sense if every team can be the most popular team.

Do your own reading. There is no support for publicly funded stadiums.

https://www.google.com/search?q=economic+study+of+publicly+funded+stadiums

 

[zinfamous]

A city also loses a shit-ton of money if they lose a professional sports team. There's "corporate welfare" for nearly every business sector. Yet when it comes to sports, people bitch and moan to no end.

What is hypocritical of John Oliver (whom I LOVE) is that the very taping of his show receives tax relief in NYC.

I don't think that is true at all.

 

[Homerboy]

I don't think that is true at all.

I googled. Apparently it isn't true.
That being said, I like my local sports teams and don't want them to go. If I can get that accomplished on the EVERYONE'S dime instead of just mine, I'm all for it! 🙂

(sarcasm to make the point)

 

[Mai72]

You can swim in the stadiums while watching football now?

For who? The wealthy. The middle class who are being fleeced will never be able to afford to swim in these pools.

Yet, it's the middle class who funds these stadiums via their tax dollars. I've said it again and again. The wealthy are just too smart. The middle and upper middle class get hammered with taxes, while the rich get the tax breaks. That's fine. Keep breaking your back at work while the government takes nearly 30% of your income.

 

[BoberFett]

Oh my, here's a story about the Tea Party - you know that horrible group of right wing terrorists who love corporations and hate America - fighting against the establishment (Republicans in this case) and publicly funded stadiums.

http://www.bloomberg.com/news/artic...party-takes-on-republicans-over-stadium-taxes

Damn Sonikku, it must hurt to be so stupid and so wrong.

Don't believe propaganda. Try to think for yourself.

 

[Slew Foot]

You can always say no, but no one in government says no since the time the bill comes due, they're long gone.

 

[zinfamous]

I googled. Apparently it isn't true.

😉

The strange thing, apparently, is that Minor league franchises--particularly baseball--are actually quite profitable for cities.

You'll see very few mayors and city council members making this argument, but the data only supports the building of AA, AAA stadiums and clubs, if the city's actual goal is to generate jobs and income.

The issue with major sports franchises is that the owners and the league sap all of that profit. None of it really goes back to the community, as their contracts dictate that official merchandising and businesses authorized to sell such are property of the team and the league.

 

[zinfamous]

Oh my, here's a story about the Tea Party - you know that horrible group of right wing terrorists who love corporations and hate America - fighting against the establishment (Republicans in this case) and publicly funded stadiums.

http://www.bloomberg.com/news/artic...party-takes-on-republicans-over-stadium-taxes

Damn Sonikku, it must hurt to be so stupid and so wrong.

Don't believe propaganda. Try to think for yourself.

damn dude, I think you need an enema. It might help with the grump.

 

[BoberFett]

You can swim in the stadiums while watching football now?

For who? The wealthy. The middle class who are being fleeced will never be able to afford to swim in these pools.

Yet, it's the middle class who funds these stadiums via their tax dollars. I've said it again and again. The wealthy are just too smart. The middle and upper middle class get hammered with taxes, while the rich get the tax breaks. That's fine. Keep breaking your back at work while the government takes nearly 30% of your income.

It's not that the wealthy are too smart. It's that most people are too stupid.

Just look at people like that idiot above who believes this is a Republican problem, so he votes for Democrats... who are very much in favor of publicly funded stadiums.

 

[BoberFett]

damn dude, I think you need an enema. It might help with the grump.

Nah, what would help my grump is for people to stop being so stupid. No chance of that unfortunately.

Though I've heard enemas can be... arousing... :whiste:

 

[lupi]

It's what happens when there is such a finite supply of product. Like someone bidding $900 on an item because either they have money to burn or it completes there collection and every other schmuck think theirs is also now worth at least $900.

As long as they can keep getting bitters, they'll keep casting for free money.