Stadiums don’t have to be a drain on taxpayer dollars − 4 lessons from St. Louis

By Peter Boumgarden, Professor of Family Enterprise, Washington University in St. Louis
Nathan Jensen, Professor of Government, The University of Texas at Austin

The world of professional sports is flush with cash, thanks to multibillion-dollar TV deals, sponsorships and ticket sales. Yet some of the biggest investments in major franchises come from taxpayers. Between 1970 and 2020, state and local governments spent US$33 billion in public funds on sports arenas, including nearly $20 billion since 2000 at an average cost of $330 million per project.

Lawmakers often justify those subsidies by saying they’ll create jobs,…

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