Sports Franchises Try to Hold Cities Ransom, Ep #88

The Capitalist Investor - Episode 88

Diamond Hands D & Tony Z discuss how sports franchises attempt to hold cities ransom with their stadium leases and construction. The Buffalo Bills ask the locals for $1.1 BILLION to build a new stadium. Should the local taxpayers pay for these stadiums? Not everyone is a sports fan but yet many stadiums are built on taxpayer dollars. Also, would you pay to watch the Super Bowl?

Outline of This Episode

[2:43] Buffalo Bills Want a $1.1 Billion New Stadium
[5:00] Cleveland has lived through this before and is currently dealing with it
[11:00] Who Should Pay For These Stadiums?
[16:50] Super Bowl on Pay-Per-View?

[2:43] Buffalo Bills Want a $1.1 Billion New Stadium

Preliminary talks have begun between the owners of the Buffalo Bills, the State of New York, and Erie County as officials consider a pitch by the team to build a new NFL stadium. It’s one of the largest asks for public money in pro sports stadium negotiations: Pegula Sports and Entertainment, the team’s owners, have pitched a $1.5 billion proposal for a new stadium in Orchard Park and additionally help cover some renovation costs to the Pegulas’ NHL Sabres arena in downtown Buffalo.

[5:00] Cleveland has lived through this before and is currently dealing with it

Tony remembers how the Browns left Cleveland under similar circumstances. But what’s really getting under Tony’s skin is the new Indians name & also asking for new renovations.

[11:00] Who Should Pay For These Stadiums?

How much income do cities gain from having a professional franchise? Does the city gain from the investment?

[16:50] Super Bowl on Pay-Per-View?

Would you pay to watch the Super Bowl? It is not unheard of to pay to watch a sporting event and it has been successful for the UFC, Boxing & WWE has a great track record of people paying to watch big events.