How the NFL Fleeces Taxpayers

[PokerGuy]

Taxpayer funding for the teams/stadiums is just about always a losing proposition for the taxpayer. However, the government (local/state/federal) wastes an incredible amount of my money each year. At least when they waste it on a sports team I get something in return (a local team) -- usually they just fleece the population and funnel the money to their cronies and the taxpayer gets nothing. In that sense, funding sports projects is better for the taxpayer than other forms of government waste.

 

[Genx87]

I don't think this is a new study, but the emotional ties to teams are what causes the government to do bad deals.

In Minnesota i believe the state legislature is using bonds to at least mitigate the loss for the stadium.

Bonds that were to be serviced using electronic pull tabs. The estimated revenue for these pull tabs was supposed to be 35 million\year. The first year out of the hoop it generated about 1 million and after costs of implementing the system it generated zero revenue. If this fraud was pulled in the private sector people would go to jail.

 

[CLite]

I'm glad I live in NJ where we made Jets/Giants pay 100% of the 1.6 billion dollar stadium, not a cent of public funding.

Mara's ftw.

 

[PokerGuy]

I'm glad I live in NJ where we made Jets/Giants pay 100% of the 1.6 billion dollar stadium, not a cent of public funding.

Mara's ftw.

I don't know if that's Mara's FTW, or that it's simply the city saying "we're not buying you a billion dollar stadium, pay for it yourself". Leaving a major market like New York is not the same as leaving, say, Oakland for another city. The team doesn't have as much leverage.

 

[CLite]

I don't know if that's Mara's FTW, or that it's simply the city saying "we're not buying you a billion dollar stadium, pay for it yourself". Leaving a major market like New York is not the same as leaving, say, Oakland for another city. The team doesn't have as much leverage.

Well Mara's (Giant's owners) are one of the great football families, they wouldn't damage their reputation by pulling a spoiled kid routine.

The Jets were thinking of leaving to go to NYC but wanted public funding and NYC said fuck off. So they came crawling back to split cost with Giant's.