The Misconception of Professional Sports in Local Cities

Throughout the past 20 years hundred million dollar stadiums seem to spring up out of no where, taking a lot of pubic tax dollar with them, always promising to spark economic growth. The common misconception is that these new stadiums are actually successful, and one might think that because so many stadiums are being built these days. The city of Los Angeles is proposing to build a new, $210 million stadium within the next few years for a new football team. Many economists say this will appear to bring to jobs and money to the local area but in the long run the stadium will not be as successful as one might think. In a clear statement, the thought that new professional sports stadiums bring postive economic growth to local cities is an overall myth.