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Have Public Finance Principles Been Shut Out in Financing New Sports Stadiums for the NFL in the United States?

Author

Listed:
  • Victor Matheson

    (Department of Economics, College of the Holy Cross)

  • Robert Baade

    (Department of Economics and Business, Lake Forest College)

Abstract

Over the past 15 years, new stadiums in the National Football League have been built at an unprecedented rate, and most new facilities have utilized significant public funds. This paper looks at whether the methods used to finance these new facilities honored public finance principles regarding equity, efficiency, and transparency. An examination of the 20 NFL stadiums constructed or refurbished since 1992 reveals a trend towards more voter referendums and an increase reliance on taxation of visitors through hotel and rental car taxes. Although taxation of persons living outside one’s own metropolitan area is appealing, this paper suggests that the benefits of these taxes are not nearly so clear.

Suggested Citation

  • Victor Matheson & Robert Baade, 2005. "Have Public Finance Principles Been Shut Out in Financing New Sports Stadiums for the NFL in the United States?," Working Papers 0511, College of the Holy Cross, Department of Economics.
    • Handle: RePEc:hcx:wpaper:0511
    as

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    File URL: https://hcapps.holycross.edu/hcs/RePEc/hcx/HC0511-Matheson-Baade_PublicFinance.pdf
    File Function: IASE Ottawa 2005 paper
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    References listed on IDEAS

    as
    1. Robert A. Baade, 2003. "Evaluating Subsidies for Professional Sports in the United States and Europe: A Public-Sector Primer," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 19(4), pages 585-597, Winter.
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    Cited by:

    1. Victor Matheson, 2006. "Mega-Events: The effect of the world’s biggest sporting events on local, regional, and national economies," Working Papers 0610, College of the Holy Cross, Department of Economics.
    2. Robert Baade & Robert Baumann & Victor Matheson, 2005. "Selling the Big Game: Estimating the Economic Impact of Mega-Events through Taxable Sales," Working Papers 0510, College of the Holy Cross, Department of Economics.
    3. Victor Matheson, 2009. "Economics of the Super Bowl," Working Papers 0914, College of the Holy Cross, Department of Economics.
    4. Robert Baade & Robert Baumann & Victor Matheson, 2006. "The Economic Consequences of Professional Sports Strikes and Lockouts: Revisited," Working Papers 0604, College of the Holy Cross, Department of Economics.
    5. Daniel, Rascher & Andrew, Schwarz, 2010. "Illustrations of Price Discrimination in Baseball," MPRA Paper 25807, University Library of Munich, Germany.

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    More about this item

    Keywords

    sports; public finance; stadiums; football; NFL;
    All these keywords.

    JEL classification:

    • H22 - Public Economics - - Taxation, Subsidies, and Revenue - - - Incidence
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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