Saturday, June 25, 2005

Private Funding for Arenas and Stadiums



SBC Park in San Francisco is held up as the shining example of not relying on taxpayers to foot the bill for new sports complexes. This raises several questions: what is the downside to private funding? Are there other recent examples of privately funded stadiums?

The San Francisco Giants must fork out $20 million a year to pay off the money they borrowed for the stadium. Does this mean that if the fans stop coming to the games (which, due to Barry Bonds' injury this season, is a real possibility) that the team can no longer afford to be competitive? Are ticket prices higher?

As for examples of privately funded stadiums aren't university sports complexes privately funded? I believe in Virginia that taxes can't be used for university stadiums. The new University of Virginia basketball arena being built right now is being payed for by donors.

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