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And whether or not the team itself turns a profit ultimately has anything to do with benefit to the community.
As usual, Charles shows off his staggering amount of ignorance.
This is a flat out great idea that should be supported by the city and the Lents neighborhood. Everybody wins!
Experts "haven’t uncovered a single instance in which the presence of a professional sports team has been linked to a boost in the local economy."
Also, eight weeks ago, NPR did an expose supporting these same numbers that professional sports teams do NOT boost local economies. It is a fallacy.
"Sports economists agree that cities--and taxpayers--get close to nothing from spending public money on sports teams. What they haven't figured out is why we're still doing it."
These are some resources for you to turn to. Sports teams do NOT assist local economies but rather in the long run hurt them. Thirty years of numbers don't lie. Akers, there is no supporting evidence to your $1.1B claim whatsoever.
Audrey B. Davidson is chairwoman and associate professor of the department of economics in the College of Business and Public Administration at the University of Louisville, , she said, "the benefits [of bringing a pro sport team to a city are] often are overstated while the total costs are typically not fully revealed or recognized. As a result, franchise owners have become the beneficiaries of the increased value of their teams, often at the expense of local economies."
I see is too many people making this decision based on emotion rather than examining the facts. I don't believe that a professional soccer franchise is good for the city economically. If sport teams were such a financial boon, then Seattle would have gladly built the Sonics a new stadium preventing the team's sale and ultimately being moved out of town.
If sport teams were so good for a city, then why haven't we seen any sizable development in the area around our stadium where the Blazer's play?
In this case, we're talking about a neighborhood. Sure, the metro region probably won't gain much economically, but the Lents neighborhood, and plausibly the city of Portland will.
The NFL, whose average franchise valuation has topped $1 billion for the first time, is looking to cut costs and the league will offer a voluntary separation package to 150 staffers over the next 60 days. NFL Commissioner Roger Goodell says the league intends to reduce its staff of 1,100 by at least 10% to 15% and salaries will be frozen at least through 2009.
Similar layoffs have been announced by Major League Baseball, the NBA and NASCAR teams, and the NHL reportedly has implemented a hiring freeze.
While consumers are cutting back on non essentials, corporations, which have long pumped billions of dollars into sponsorships as well as pricey suites and season tickets, also are curtailing expenditures. Numerous corporations have pulled their ads from the Super Bowl. Golf and tennis are heavily reliant on sponsorship revenue like NASCAR. The LPGA cut three events from its 2009 schedule, and the PGA Tour and tennis is considering following suit.
College sports are not immune as the weak economy likely will mean delayed stadium construction, lower booster donations and weaker financial performance of school endowments.
Oregon’s unemployment rate is 7.3% tied with the most corrupt state in the nation Illinois and Ohio 7.3% with only Alaska at 7.4%, D.C. 7.4%, California 8.2%, Nevada 7.6%, Rhode Island 9.3%, South Carolina 8.0% higher than Oregon with more layoffs being reported in this state daily.
Major League Soccer is heavily reliant on sponsors and butts in the seats.
Now sell me today on a kick ball team in Portland, major renovations to PGE Park and a new baseball stadium on the backs of taxpayers, with packed stands, substantial sponsorship money when Pitiful Paulson cannot answer the one simple question.
"Will the Paulson family be guaranteeing the performance... with its personal assets?"