Taxpayer dollars funding football stadiums
August 10, 2015
On average, 57 percent of stadium construction costs come from state and local governments
The author of a book — "Public-Private Partnerships for Major League Sports Facilities" — notes that between 2000 and 2010, a whopping $12 billion in public financing went to 51 stadiums. That figure includes the cost of hidden subsidies for things like land acquisition, infrastructure operations, and lost property taxes that team owners are able to force cities to pick up amidst new stadium construction. The sports teams and their owners insist there's a return on investment for all that public funding — in the form of increased economic activity that state-of-the-art stadiums promote. But critics dispute that. Instead, they say taxpayers are giving away a lot of money for nothing. Ali Velshi reports.