New sports stadiums and arenas are popping up all over the country. And, new stadiums are causing higher ticket prices and higher taxes as a result. The owners are adding to their profits through subsidies provided by local governments at a detriment to both sports fans and tax payers alike. While most politicians and sports franchise owners will want fans to believe that a new stadium is in their best interest, will bring jobs to their area, will increase their stature, and a host of other promises, the reality is far from those promises. The truth of the matter is that new stadiums are rarely a good deal for citizens and fans in most cases.
In this episode of the Money Q&A podcast, “Your Money: Your Choices”, I interview Neil deMause who is an expert in the area of new sports stadium construction, their costs, and their lasting affects on the game and its citizens. He is also the author of the book, “Field of Schemes – How the Great Stadium Swindle Turns Public Money into Private Profit“. On the podcast we not only talk about my favorite team in baseball, the Atlanta Braves, and their recent new stadium announcement, but we also talk about a host of other affects to teams building new stadiums. How much do government subsidies play into attracting new stadiums to an area? Is the skybox or the suite the cause of all this turmoil? Are professional athletes and their exorbitantly high priced salaries to blame? You may be surprised to hear what Neil has to say. But, more importantly, why should you care? In fact, you may also be surprised to learn just how much it will impact you, what you buy, the cost of sports tickets, salaries, new jobs, and the like. You won’t want to miss this very interesting conversation with such a national expert in the field.