Economists Discuss Benefits, Consequences of Public Financed Sports Venues
You don't have to think back too far in Cleveland to know that a stadium deal can lure a team to another town. The Browns left after the 1995 season for Baltimore and a gleaming new Stadium for what would become the Baltimore Ravens. Cleveland built its own new stadium for an expansion franchise Browns team which began playing in 1999. More recently, San Diego saw the Chargers bolt for Los Angeles after rejecting a bid for a new public financed stadium. While the Texas Rangers will get a $1 billion new ballpark to replace their current one--which is the same age as Progressive Field. Some question: is the public investment to keep professional sports teams worth it?
Dr. Mark Rosentraub, Bickner Endowed Professor of Sport Management, Professor of Urban Planning, University of Michigan
Dr. Victor Matheson, Professor of Economics, College of the Holy Cross