Should There Be Public Funds For Stadiums?

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Determining how to fund a sports stadium is a controversial topic. The controversy arises from whether public funds should be used to finance a stadium. Many argue that billionaire owners shouldn’t be requesting public funds, and instead stadiums should be privately funded. Contrastingly, some are content with stadium subsidies and feel that a sports stadium is a valuable asset to the city. The purpose of this paper will to be determine the extent of state and local government involvement for a new Buffalo Bills stadium. On average, 33% of financing for NFL stadiums comes from public funding, with the highest being 86% (Collins, 2010). Increasing taxes on hotel and car rental are the two most common forms of allocating public funds for stadiums (Collins, 2010). This funding generally comes from the county, rather than the state (Collins, 2010). Taxes …show more content…

If sufficient funds are not provided, they can threaten relocation (Alekshandra, 2016). Owners will then move to another city which offers financial incentives that their previous city was lacking. Creating a form of corporate welfare that benefits the owner. This leads to lopsided deals that are generally in favor of the owner, rather than the city (Alekshandra, 2016). Therefore, it is important to determine whether publicly funding a stadium is a worthwhile investment. Publicly funding a stadium brings some appealing benefits to the city. Included in these benefits is ensuring the stadium remains in the city, bringing more jobs, and the ability to lease the stadium (Alekshandra, 2016). This opens the capability for the city to utilize the stadium for events such as concerts, graduations, alternative sporting tournaments, and festivals (Alekshandra, 2016). The stadium is a bastion for economic development. Additionally, the city is able to utilize the stadium’s vast parking lot for

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