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Providing perspective on the economics and politics of sports business in Florida...and the Rays' campaign for a new stadium in Tampa Bay.
It only took the better part of nine years, but this post will be No. 1500 for Shadow of the Stadium. In many ways, we're in the same ...
Dam man, I hate to troll your creative video, but for us more educated readers, it was just another factless piece by (not a reporter) an anchor getting paid to appeal to his base of uninformed lemmings...
ReplyDeleteThough maybe instead of just "throwing stuff against the wall, seeing if something will stick", making assumptions, ripping off others real reporting, and trying to make jokes, do some real "investigative reporting". We understand one has to do all the above to cover up not knowing the facts, and we understand a lot of people will buy the factless acts, it's how we got an egocentric dumbass like Trump that won by simply repeating others opinions like InfoWars & Breitbart without basis or any actual governing experience...
Remember, "the strong move quite & the weak start riots". Good luck on that reporting thing, and see you at Publix Park in North Channelside in a few years...
Hi Noah,
ReplyDeleteYou nailed it.
And it is well past time to change the narrative regarding public funding of any new stadium. The question needs to be changed from ‘How much should taxpayers contribute?’ to ‘Why should taxpayers contribute a dime? MLB and the Rays can easily afford to pay 100% of the $600 million or so for a new stadium in Tampa Bay.
Per http://www.statista.com/statistics/193466/total-league-revenue-of-the-mlb-since-2005/ in 2001 total MLB revenues were $3.58 billion ($4.9 billion in 2016 dollars) and 56% of those revenues went to players’ salaries.
Per http://www.forbes.com/sites/maurybrown/2016/12/05/mlb-sees-record-revenues-approaching-10-billion-for-2016/#39144ec51845 in 2016, total MLB revenues were $10 billion and just 40% went to players’ salaries, even with the many ridiculously stupid long-term contracts that are negotiated, and you can now add the recent new contracts of David Price, Zack Greinke, Jeff Samardzija, Max Scherzer, Jon Lester, Elvis Andrus, Kyle Seager, Jordan Zimmerman, Jason Heyward, Justin Upton, Johnny Cueto, Giancarlo Stanton, Chris Davis, Stephen Strasburg, and Yoenis Cespedes to the list.
So revenues (in 2016 dollars) after deducting for player salaries were $2.2 billion ($73 million per team) in 2001 and $6 billion ($200 million per team) in 2016. That is an increase of $3.8 billion which averages out to $127 million per team. To build a $600 million stadium costs just $33 million per year assuming 3.5%/30 year terms.
What have MLB and MLB owners done with all this extra money? Keep in mind that their slice of this ever growing pie will continue to get bigger in the coming years. For example, MLB Advanced Media (MLBAM) is a huge revenue enhancer and each team just recently received a windfall of about $33 million as MLB has sold one-third ownership of MLBAM to Disney – please see
http://www.forbes.com/sites/maurybrown/2016/08/09/disney-co-makes-1-billion-investment-becomes-minority-stakeholder-in-mlbams-bamtech/#6b5830be1597 .
During the Bud Selig era (1992-2014), 21 new MLB stadiums were built, 20 of which received substantial public funding. Not only did 20 MLB clubs get lots of public money, not even one of them opened their books to show why they needed public money!
For taxpayers to pony up even a dime for a new stadium for any team is obscene. That is like providing publicly funded college scholarships for Warren Buffett’s and Bill Gates’ kids.
Thanks Scott for proving my point about readers being misinformed. I guess if you own a biz worth a million, you can run out, and spend a million, huh...
DeleteHi B Dufala,
DeleteIf I can't spend the million, I certainly don't expect the taxpayer to cover for me.
I understand people like you don't understand the facts of the matter, and instead believe everything Noah says, but "the taxpayer"'s government will profit & also use the facility...
DeleteAgain, if your against progress then move to a place where less taxes are taken, less taxes are being spent, like Brooksville or Myakka City...
DeleteCities across America are on the rise, and our small towns are falling. It's because our cities are progressive, and most other places are conservative...
"Get in where you fit in" Scott & Noah...
Austin, Texas is really struggling with no major league sports franchises right? These sports franchises are profitable and need to be in major markets. If they won't pay the freight, then don't let the door hit them in the ass.
DeleteCom'on man, I'm talking digressive small towns like Brooksville, and rebut with a city of close to a million people that draws 100k every other Saturday & 13k twice a week & 5k several days a week during their home town college seasons, and is within an hour or two from 3! of America's biggest cities...
DeleteAgain, if you believe Noah over every local Government that proves through countless collected data that sports generates positive revenue, then maybe you should move out of the city to the middle of no where...
OK, Dufala, let's see your examples - BY ECONOMISTS - that prove sports generate positive revenue?
DeleteAnother example of sports being used for local revenue... http://jacksonville.com/business/2016-12-22/st-johns-county-tourism-officials-look-sporting-events-tourism-bump
ReplyDelete"No, no, spending on sports always lose money!"? "They don't have the facts, so they deny the truth, and instead just say it's bad!"...
I just read your link - sounds like a great opportunity for private investment. Now here is a real data point:
DeleteThere was a very interesting natural experiment regrarding the impact of MLB Spring Training during 1995. MLB was still on strike from the carrryover of the 1994 season.
This great data point relating of how unimportant MLB Spring Training is, at least in Florida, is what happened during spring training season in Florida in 1995 - while the MLB players were still on strike. Per http://www.governing.com/blogs/view/The-Economics-of-Baseballs-Spring-Training.html :
A study by University of Akron professor John Zipp examined the amount of taxable sales in Florida communities that hosted spring training in 1995, when the baseball strike caused teams to field second-rate “replacement players” and there was a 60 percent drop in Grapefruit League attendance. If spring training had a major financial impact on those communities, they should have suffered tremendously. That didn’t happen, and in fact, their taxable sales increased. Those findings “may indicate that spring training is not the major tourist draw that many claim,” Zipp wrote in a paper published by the Brookings Institution.
Dufala, there's a HUGE difference between youth and rec tournaments, which bring in thousands of people from out-of-town.....and MLB games, which simply do not. Countless studies have proven this.
DeleteYes, and "there's a HUGE difference between" St.Augustine & Tampa Bay...
DeleteAnd, "Countless studies", but never showed one. Everyone of 20,000 people attending every Rays game lives within 20 miles? Com'on man, your welcome sell the bullshit to buyers like Pat & Scott, but most of us are smarter, and some of us actually go to games and have talked to "out-of-towners"...
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DeleteI guess we're to continue to believe you with only stereotypical criticism over every local Government across America that proves through "countless" collected data that sports generates positive revenue...
DeleteI'm sorry, but dam your dumb, Noah's kind of readers, the one's that doesn't grasp economics, just the word taxes!
ReplyDelete1) The Jacksonville Sports Council isn't a "private investor", they are another example of real people with jobs that gather real facts, unlike some reporters.
2) Your trying to use examples from over 20 years ago from some yahoo from Akron.
3) Any real sports fan understands the drop off in numbers during their strike.
4) Sales tax revenue fluctuates, and "newsflash" the US was in the mist of a recession during that time.
5) His findings DON'T include a range of time of the amount of people that moved to that town because of Spring Training, bought houses, cars, other businesses that opened because of the increase of population. Example, Dunedin got the Blue Jays in 79', not everyone moved their at once in "1995".
6) It's obvious you haven't been to a Spring Training Game, or Clearwater Beach when the Bucs are hosting a team that weekend, or Super Bowl gatherings, or downtown Tampa during the playoffs, and so on to see the impact for yourself.
7) Your link doesn't work.
Oh, and 8) "Don't believe the guy wondering about what's going on on the inside, about what's going on on the inside..."
ReplyDeleteEspecially if he's trying to make money by guessing...
DeleteHi B Dufala,
ReplyDeleteYou state 'dam your dumb' - why, because I don't agree with you?
This link works for me:
http://www.governing.com/blogs/view/The-Economics-of-Baseballs-Spring-Training.html
What makes you dumb scott is trying to talk sense, or cents, to duf.
DeleteHi to all, how is everything, I think every one is getting more from this site, and your views are pleasant designed for new visitors.
ReplyDelete