I don't find the quote hilarious. What I wonder is why pro football teams, which are extremely profitable, are allowed to blackmail local communities into buying them stadiums and giving them tax breaks. Other kinds of businesses actually pay for their own buildings and taxes. I, for one, would not care if the Rams played in St Louis or LA. The ticket prices are too high to attend the games, and so most people watch on TV.
Because they can. A professional sports team is a license to make money. And they do. Is it any wonder that my Detroit Lions under the ownership of the late William Clay Ford, one of the automotive Fords, made tons of money over the years, had 2 stadiums built for them at public expense keeps growing. His widow took over ownership when Mr Ford died this past spring told the team players. WIN OR ELSE !! I bet many players will not be resigned at the end of the season due to the team's dismal win-loss record this year. Yep, ticket prices are high, but people buy them.
A few years ago, a group formed in Louisville to try to bring a professional NBA team to town, and to offer to build a stadium to attract one. They tried to claim that it would bring all kinds of money to the area, but when push came to shove, they couldn't actually prove that. Turns out that for the vast majority of sports venues, while the teams make money, and the city increases its revenue somewhat (but not overwhelmingly), the local businesses, except for the so called "vice" related ones (which the city is trying to shut down), do *not*.
Mind you, there *is* a new stadium downtown, but it was built for the UofL Cardinals, and, by contract with the city, they have priority over everybody else when it comes to scheduling.
I'm old enough to remember that Louisville once had a very good ABA team. They had Dan Issel, Louie Dampier, and Artis Gilmore. A pretty talented bunch.
They were one of the ABA's most succesful franchises. They folded when the NBA merger took place. I assume the NBA head guys felt Louisville was too small.
It's funny that the NE Patriots built their own stadium with a relatively small state contribution to re-build area roads and yet are valued as the second most valuable pro sports franchise (after Dallas I think). I personally think that local officials frequently are on an ego trip in pursuit of teams and end up giving away taxpayer dollars unnecessarily.
1. It's not just football teams that do that.
2. Other types of businesses get tax breaks to locate to a certain city or state. My company is closing up here in Omaha and relocating to Iowa, at least in part, because of tax incentives the state of Iowa is giving them.
3. Civic pride is at stake. Most people love the town they live in, and don't want to live in some Podunk with nothing. Sports teams are almost like museums instead of traditional businesses.
6 comments
Latest
Mind you, there *is* a new stadium downtown, but it was built for the UofL Cardinals, and, by contract with the city, they have priority over everybody else when it comes to scheduling.
I'm old enough to remember that Louisville once had a very good ABA team. They had Dan Issel, Louie Dampier, and Artis Gilmore. A pretty talented bunch.
They were one of the ABA's most succesful franchises. They folded when the NBA merger took place. I assume the NBA head guys felt Louisville was too small.
2. Other types of businesses get tax breaks to locate to a certain city or state. My company is closing up here in Omaha and relocating to Iowa, at least in part, because of tax incentives the state of Iowa is giving them.
3. Civic pride is at stake. Most people love the town they live in, and don't want to live in some Podunk with nothing. Sports teams are almost like museums instead of traditional businesses.