
Some seldom-considered reasons why subsidizing a new San Diego Charger stadium is a bad idea
by Richard Rider The Chargers (via the media that usually profits from having professional sports teams in town) are blitzing San Diego, trying to get a new stadium largely at taxpayer expense. Naturally I oppose such a subsidy for millionaires (players) and billionaires (owners).
There are many arguments against such subsidies, and I’ve voiced them over the years. For instance, we taxpayers foot much of the bill, and the owners and players pocket 100% of the increases gross profits and team resale profit.
Inaddition,most of the ticket revenue is from people within the county, resulting in the “substitution effect.” Charger revenue is money that otherwise would have been spent on some other recreational or entertainment activity… Read More