Ok, As I post this the US is trailing the Czech Republic 1-0. Help me understand why the public needs to pay for REAL's soccer stadium. Who does this benefit? Why should public money go to a project that will ultimately benefit Dave Checketts?I honestly want to know. I am opposed to any public financing for stadiums, and I am a huge sports fan!
I looked up an old Deseret News article by Brad Rock on July 12, 2001 that talks about public financing for stadiums:
In the April 2001 issue of The Regional Economist, writer Adam M. Zaretsky addresses the issue of building arenas and stadiums for pro teams. The general conclusion is that public financing of such facilities is risky business."When studying this issue, almost all economists and development specialists . . . conclude that the rate of return a city or metropolitan area receives for its investment is generally below that of alternative projects," he writes. "
He also notes that in metro areas where a stadium was built or refurbished in the previous 10 years, only three showed significant real personal income growth.
In Utah, both the E Center and Franklin Covey Field were built with taxpayer assistance. However, minor league player salaries, staff and operating expenses are lower, and thus the teams usually have an easier time meeting rent. Since World War II, the article states, approximately 140 sports facilities have been built or refurbished; only 14 did not use taxpayer dollars.
One of those is the Delta Center, which Jazz owner Larry H. Miller built with a personal loan. Miller isn't a typical owner. He has said he doesn't believe taxpayers should finance an owner's personal business ventures. For those who complain that Miller is making big dollars off the Delta Center, consider this: Unlike most owners, he took all the risk.
So please let me know why the public should finance this stadium, regardless of location. I think if their name is REAL SALT LAKE, they should play in SALT LAKE. Or they could follow the Los Angeles Angels of Anaheim and be called the REAL SALT LAKE of Sandy.