@sabrahmabullpen: How San Antonio Spurs Arena Funding Boosts City Growth for 30 Years!

IceRari :

The track record on stadium deals is brutal. Brookings found that 90% of publicly funded stadiums fail to boost local economies. Independent economists agree: new arenas don’t create new spending, they just shift it from other businesses. Taxpayers cover the debt — like in Cincinnati, where Paul Brown Stadium ballooned to $555M in costs and still drains county funds, or St. Louis, which paid for upgrades only to see the Rams leave, leaving behind $129M in debt. Even Las Vegas gave the Raiders $750M in subsidies — the biggest in NFL history — while schools struggle for funding. Meanwhile, when it’s transit, housing, or infrastructure that benefits all citizens, suddenly the money “isn’t there.” That’s the pattern: socialize the costs, privatize the profits.