Business

New studies show positive rewards from sports teams….Sorry, C.C.

March 30, 2012

Don’t tell C.C. Elebash, but there are new reports out that highlight the value sports venues bring to cities.

The Nashville is negotiating with the Nashville Predators executives. The team and its arena management arm have released the full economic impact study that claims a $410 million economic impact. The 33-page report from economist Bob Leib of Milwaukee’s Leib Advisors fleshes out the high points announced last week in an executive summary presented to the Nashville Metropolitan Sports Authority.

Leib’s work — it’s available for download here — also anticipates the most frequent criticisms of studies such as his, according to the Nashville Post. Read its article

“There have been several frequently cited studies indicating that the economic benefits of publically funded arenas are overstated. However, recent academic research, such as the study conducted by Charles Santo of Portland State university, that utilizes more current data and case specific methodology, suggests otherwise. His research highlights Metro Nashville as a case study which demonstrates the net economic value of sports teams and positive rewards resulting from the expenditure of public funds. In particular, a study conducted by the University of Memphis in 2005 concluded that, in contrast to earlier studies which ignored city-specific economic characteristics, there is a significant positive relationship between sports related variables and regional income share for Nashville.”

  • joe March 31, 2012 at 4:09 pm

    I don’t think you want to get in a battle over financial impact and intellect with the Professor.

    The financial impact, for the most part, is people pulling local money used for some entertainment and moving it to baseball game enjoyment. Maybe bed tax impact will disclose whether there is new money or not.

    When do the 4 + million a year bond payments start becoming payable? And what, 30 years of them?

  • Brad Gunther March 31, 2012 at 1:28 pm

    Professor Elebash,

    We get it. You hate progress, the City of Pensacola, and any idea that was formed after the 18th Century. Be sure to attend opening day next week and tell everyone what a horrible thing they are doing, my goodness! How dare anyone actually support the team and the ballpark by buying tickets?

    Oh, I’m sorry, you can’t attend because the park is SOLD OUT! Oh well, I guess you can still stand outside and mutter about all the tomfoolery those jackanape rapscallions are doing to defraud good citizens of their hard earned thrupence and spondulicks!

  • C. C. Elebash March 31, 2012 at 12:19 pm

    April 2012 Florida Trend, page 60

    Miami

    Stadium Deal: The deal for the Miami Marlins’ new stadium continues to plague city government, which looks to be stuck with an annual tax bill of up to $2 million for the stadium’s garages, which the city believed would be exempt from property taxes. The Securities and Exchange Commission is investigating the negotiations surrounding both the city’s and county’s commitments to cover 80% of the stadium’s $634-million cost.
    And with the ballpark set to host its first game this month, the city has neither the plans nor the funding for promised mass transit routes that would alleviate the lack of game-day parking in the area.