Why Do Sports Stadiums Ever Been The Best Alternative?

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Siegfried and Zimbalist (2000) in their paper acknowledged that one of the key issues often ignored in debates about whether sport stadiums are an advantageous use of public funds and a strong investment, relative to alternative public investment opportunities. The idea that "There's no such thing as a free lunch" is a favourable expression used by economists because it illustrates exactly what opportunity cost means: “When making a choice, something always has to be given up.” (Zaretsky, 2001) The argument put forward by Zaretsky (2001) questioning “Has financing sports stadiums ever been the best alternative?” is key to underpinning the real impacts on development within a city with regards to stadium development. (Zaretsky, 2001) Research …show more content…

Regression analysis used by a number of contributors (Coates & Humphrey, 2001), used census data to evaluate the impact of stadiums and professional sports teams on area development, giving a good impression of the real affects of stadia being build. Assumption-driven trade multiplier models have also been used to estimate the effectiveness of sports-based development (Baade, 1990), but the evidence presented through both of these is that the presence of a new or renovated stadium has an variable impact on the levels of employment and possibly a detrimental impact on local development in a region.(Baade, 1990) Baade & Dye, (2001) note in their research that “These conclusions should be used as a caution to those who assume or support a large positive stadium impact.” (Baade & Dye, …show more content…

On top of this I collected a number of newspaper articles and publications relating to the topic, to illustrate the debate that was going on in the city during the time I was there.

My study group therefore was very small and consisted of a small number of business owners within the PortMiami area. I prepared my interviews using a set of organised questions and decided to go for a more of a discussion based approach so I could ask questions following on from my original set questions. The questions I asked were related to impacts that particular stadium developments have had on the city, and whether (for business owners) their businesses have profited from the development or redevelopment of certain stadiums within the

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