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Economic impact study on sports facility
Effects of sports stadiums on a city
Effects of sports stadiums on a city
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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
To explain the importance a sports team has on a city, a new avenue for future
Some of the most prolific franchises in sports, like the Oakland Raiders and Baltimore Colts of the National Football League, have moved to other cities breaking off their loyalty to the hometown fans. More important than the actual moves are the more frequent threatened moves. When teams “play the field” and explore the option of playing in other cities they are able to lure interested cities into giving them just about any royalty they want. New stadiums are only the beginning. The willingness to threaten departure has secured for teams a variety of land deals, lower taxes, more revenues from parking and concessions, control of stadium operations, guaranteed ticket sales, renovation of stadiums with luxury seating, control over neighborhoods and transportation systems, and that’s only the beginning of the list.
Siegfried, J., & Zimbalist, A. (2000). The economics of sports facilities and their communities. The Journal of Economic Perspectives, , 95-114.
Posavac, H. D., Posavac, S. S., & Weigel, R. G. (2001, March 20). Reducing the
groups of people apart from others only fuel the inequality as each group fights over control of the available resources (Vahabi, 2009). As it applies to sport, conflict theory can be observed in the colossal stadiums built by society elite to house the equally expensive teams used for monetary benefit that is without equal reward (Woods, 2011). This theory is furthered by the unobtainable participation of both athletes and spectators in respect to economic and social status.
Financial aspects and profitability of college athletic programs is one of the most important arguments involved in this controversy. A group of people expresses that college athletic programs are over emphasized. The point they show on the first hand, is that athletic programs are too expensive for community colleges and small universities. Besides, statistics prove that financial aspects of college athletic programs are extremely questionable. It is true that maintenance, and facility costs for athletic programs are significantly high in comparison to academic programs. Therefore, Denhart, Villwock, and Vedder argue that athletic programs drag money away from important academics programs and degrade their quality. According to them, median expenditures per athlete in Football Bowl Subdivision were $65,800 in 2006. And it has shown a 15.6 percent median expenditure increase fro...
Noll, Roger, and Zimbalist, Andrew. Sports, Jobs, and Taxes: The Economic Impact of Sports Teams and Stadiums. Brooking institutions press, Summer 1997. Vol. 15 No. 3.
Zaslansky, R., Eisenberg, E., Peskin, B., Sprecher, E., Reis, D., Zinman, C., & Brill, S. (2006).
These small, mostly private schools are spending millions on Football fields, Gyms, indoor and outdoor tracks and student recreation centers. This battle seems almost unnecessary considering almost zero of these athletes will become professionals and in most cases athletics takes away around 20-25 hours of school work time to there student athletes. Looking at the research there seems to be three reasons why schools sell the idea of how a new facility can bring more then a large bill to the school. These points are first recruiting success that leads to athletic success and the enrollment bump in not only the student athletes but also the student population as a whole. Finally how the sch...
Over the past twenty years, many things have changed and evolved to impact our economy. From cell phones to music to media, we are all constantly affected. The most influential aspect though, in my opinion, has been America’s biggest game, the Super Bowl. The Super Bowl by all means effects our economies in every way, shape, and form. The sport is one of the most complex social institutions in American Society. Sports effect major institutions of society, including: the mass media, politics, religion, education, and family. The Super Bowl gathers thousands of viewer’s attentions including those who do not usually watch the regular season games.
Sports are one of the most profitable industries in the world. Everyone wants to get their hands on a piece of the action. Those individuals and industries that spend hundreds of millions of dollars on these sports teams are hoping to make a profit, but it may be an indirect profit. It could be a profit for the sports club, or it could be a promotion for another organization (i.e. Rupert Murdoch, FOX). The economics involved with sports have drastically changed over the last ten years.
A recreation center is a basic standard at most universities. The student recreation center at The University of Idaho is a valuable resource for students with both indoor and outdoor activities to suit the needs of many. There are many universities that just supply gyms, nothing more. The University of Idaho has one of the most modern and high-tech facilities in the Pacific Northwest, with attractions like an indoor rock climbing wall and an indoor track. This state-of-the-art facility is available to any student free, and it is even available to the public via membership. Running, maintaining, and gaining a reputation for a student recreation center is vital to a fully functional recreation center. In order to have a successful and functioning student recreation center there are many criteria to meet. Some of the most prevalent and important criteria include: Proper and safe equipment, knowledgeable staff, and a variety of activities and programs for varying student’s interests.
While sports for the spectators are merely entertainment, the economics of the industry are what drives businesses to become involved. Sports have become more of a business entity rather than an entertainment industry due to the strong economic perception of the over all industry. There are several instances in which economics may contribute to the effect on the sports industry, such as: the success of a team, the price of a ticket, the amount of money an athlete will make, and the amount of profit a team will make. The success of an...
Transport is a political factor as it is controlled and affected by legislation. This will impact on the staff and opponents (travelling to the stadium) as the accessibility of transport will impact on travelling times – both positively (may avoid traffic on a train e.g.) and negatively (trains, buses etc. may be cancelled or delayed). The price of transportation will also affect the mode of transport that these groups of people may use. Similarly, price and accessibility of transport will affect the consumers also. The view that consumers hold on transport, therefore, is likely to impact on the business i.e. effort to travel, money to travel etc. as this will influence how often they will visit, what they will spend during their visit etc. According to (Mintel 2011,) the amount of people using train as a mode of transport is on the rise, mea...