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The Economics of Subsidizing Sports Stadiums
"The idea that sports is a catalyst for economic development just doesn’t hold water.”
—Robert Baade, sports economist Professional sports give people pride and a sense of community. But who should pay for the stadiums? From 2008 to 2010, three NFL stadiums were built: the $710 million Lucas Oil Stadium for the Indianapolis Colts, the $1.1 billion AT&T Stadium for the Dallas Cowboys, and the $1.6 billion MetLife Stadium for the New York Jets and Giants.1 The newest NFL stad