17 October 2009

The economics of sports stadia

Which don't add up

On a brighter note, San Francisco's new Giants stadium actually sort of paid for their beautiful ball park through private ownership and development (at about a 50/50 rate). But obviously the Yankees and Mets and virtually everyone else with a new temple homage to the glorious days of youth is funded largely out of the deep and endless pockets of the public.

I've yet to figure out how this works, even taking into account the incalculable value of civic pride at having a major sports team that a city receives, but it does.
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