American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices https://flip.it/KjUlOo
Courtesy of Fortune mag
“‘…Between 1970 and 2020, state and local governments spent $33 billion in public funds on major-league sports arenas across the U.S. and Canada—with the median public contribution covering 73% of construction costs. That number has only accelerated: In 2024 alone, more than $13 billion in taxpayer subsidies were proposed by teams across professional sports for new construction and renovations.””
Capitalism-caused climate change could further impact communities’ bottom line: Pro teams will leverage more public spending for new, domed stadiums to ensure owners’ revenue streams against weather disruptions and delays. The costs will be socialized.
