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[Seattle Times] 15 years after moving Sonics, now it’s the Thunder asking for publicly funded arena
(www.seattletimes.com)
this post was submitted on 20 Oct 2023
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This is one of the biggest taxpayer rip-offs in the country. Under the guise of the limited jobs it creates. Study after study proves what a rip-off it is. New York taxpayers are about to foot 1 billion so the Bills can keep coming up short of expectations.
They do the same shit for Amazon warehouses. Build here and pay no taxes, oh and we'll help you build it!
Just what we need in 2023, $15 hr jobs to bolster the economy.
It’s not just sports teams. Big companies do this too. They get tax breaks and cash incentives. It should just be outlawed.
Billionaires telling the cities we'll pay you in exposure!
The bigger scam is publicly funded colleges getting massive stadiums for like 8 games per year.
I suppose. Aren't those stadiums built by private donations?
There was something posted on reddit that the state budget cut almost the same amount from social services, some mother kid program.
The republicans would say but the mom could get a job there! Yeah, slinging hot dogs or cleaning toilets, the pay of which is the whole reason she's using social services
At least it is New York though. Brutal when it is some timy ass state with a fraction of the GDP equivalent, of a major city.
But still, how many schools upstate could that 1 billion + guarantee funds for? Super fucked up.
Billionaire ticks on the back of the US economy.
And on top of this they're doing international and neutral games, lowering then number of games at the stadium. Not a thing yet in the NBA (outside of preseason) but it will be. Why does the city never get a percent ownership in the team at least?
this is always my point, sure tax payers will pay for 51% of the new stadium, just sign over 51% ownership done deal
Could you explain your stance a little bit more in depth? I would think building a state of the art arena that your city owns would attract more people to Oklahoma City and therefore provide great benefits to the city.
Michael Leeds professor of Economics at Temple looked at Chicago. He said a baseball stadium in Chicago (a good example because of number of games) showed the same economic impact as a department store. Football is worse because less games. Would a city fund a billion dollar department store through taxes? Probably not. They have found that most of the economic benefit goes to the owners. You can Google this and there are a lot of studies.
I am a sports fan. And I certainly don’t think public funding of stadiums will ever stop. In fact, it’s getting more expensive. I just don’t agree with it. There are plenty of other things to fund with tax dollars that will improve livability. And for instance, the owners of the Bills are worth 5 billion. Why can’t they fund it? There are owners that privately fund.
Right but have you looked more in depth into these studies? Just because someone is professor of something doesn't mean people aren't paying them money to say what other people want to hear. I mean just literally think about what you said to me you are comparing a Billion-dollar stadium to a department store. I have never taken an economics class but I'd be willing to wager a hefty bet that this stadium would have a far greater impact than a department store.
Those studies don’t account for our feelings!!!
Look at Jersey
Jersey gives 2 NFL teams massive tax breaks but neither team wants to claim Jersey as its home