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Publicly Financed Sports Facilities: Are They Economically Justifiable? A Case Study Of The Los Angeles Staples Center, Matthew J. Parlow
Publicly Financed Sports Facilities: Are They Economically Justifiable? A Case Study Of The Los Angeles Staples Center, Matthew J. Parlow
Matthew Parlow
The last twenty years have seen an unprecedented growth in the number of new sports facilities for professional sports teams. This incidence has been matched by an equally extraordinary trend of state and local governments providing public financing to help build such facilities. This article analyzes this burgeoning area of urban economic redevelopment and attempts to answer the controversial question of whether the public financing of new sports facilities is economically justifiable. The article dissects the real estate and financial deals between state and local governments and the professional sports teams and developers, and critiques the alleged benefits that advocates …