Thesis on "Bringing a Major League Baseball Team"

Thesis 3 pages (1030 words) Sources: 6 Style: APA

[EXCERPT] . . . .

Bringing a Major League Baseball Team to an Area

With each new stadium proposal, one question always arises -- Is it worth it? So many factors need to be taken into consideration. There are the direct costs of building the stadium, the costs of acquiring a franchised team, the costs of maintaining a large municipal facility, and the indirect costs to the surrounding properties. However, there are obviously benefits as well. Whether it is increased tax dollars for a community, increased tourism, an opportunity to revitalize an otherwise declining neighborhood, or the enhancement of community spirit, bringing a major league team to a city certainly has its advantages. Weighing these costs against the advantages is the most difficult part. This study will evaluate the benefits and costs to the local government, local community, and the extended community of bringing a Major League Baseball A-League team to an area.

Santo (2007) studies whether or not public consumption benefits justify the investment of a municipal stadium. Satno notes that previous empirical studies have not found a significant impact on income or employment, in metropolitan areas, when stadiums or arenas have been built. Santo theorizes that there are tangible and intangible consumption benefits generated that support the investment of hosting a major league sports team. The researcher uses a contingent valuation survey to quantify the consumption benefits associated with relocating a major league baseball team to Portland, Oregon. Santo finds that the consumption benefits would only support a capital investment of $74 million, far smaller than a typical municipal stadium. Since the projected benefits are associated with public goods and externalities, However, he notes that concerns about the current tax climate tempered the responses of his survey regarding community members willingness to pay for stadium construction.

Poitras and Hadley (2006) notes that in recent decades billions of dollars have been allocated to the subsidization of major league baseball facilities. Covering major league baseball teams from 1989 to 2001, the researchers use panel data to find that a typical new ballpark generates enough revenue to cover most of its capital cost. In addition, there are external benefits that are had with ballpark construction. Sidlow and Henschen (1998) agree. They find that cities and states were spending at least $1 billion on new sports facilities for major league baseball, in order to lure professional teams into their cities. They find that bringing a major league baseball team into town can mean millions of dollars to the local economy, hundreds of jobs, and a catalyst for economic growth. When built as part of an entertainment complex of a city center, bringing a major league baseball team to town can lead to urban revitalization. Baade (1990) also explores the impact of bringing a professional sports team to a city and the impact on area development. Using regression analysis with census data, for nine metropolitan areas, the author builds a case for publicly subsidizing stadiums, including indirect benefits.

Turner and Marichal (1998) looks specifically at the public positions of officials and newspapers, in the 1980s and 1990s, regarding the economic benefits… READ MORE

How to Reference "Bringing a Major League Baseball Team" Thesis in a Bibliography

Related Thesis Papers:

Sports Finance: The Professional Sports Facilities Essay

Sports Finance:

The professional sports facilities can have attributes that are regarded as public goods by economists since they provide economic incentives to the entire society or community and not… read more

Essay 3 pages (1260 words) Sources: 3 Topic: Sports / Exercise / Fitness

---

Reasons Major League Baseball Should Have Salary Cap Term Paper

Salary Cap: Baseball

Sports is business -- big business. However, as stratospheric as the revenue may be that is generated by all of the major league sports in America, this… read more

Term Paper 5 pages (1736 words) Sources: 7 Topic: Sports / Exercise / Fitness

---

Baseball Facilities Term Paper

Baseball Teams and Facilities on Neighborhood Economies new ball park represents an investment in the future. It becomes a matter of good business practice. A state-of-the-art facility reflects a community's… read more

Term Paper 9 pages (2885 words) Sources: 1+ Topic: Sports / Exercise / Fitness

---

Sports Management Facilities as a Sports Events Research Paper

Sports Management

Facilities

As a sports events organizers there is a lot of responsibility that is involved. First would be able to find out the condition of the facilities being… read more

Research Paper 13 pages (3494 words) Sources: 0 Topic: Sports / Exercise / Fitness

---

Bringing the Fifa Soccer World Cup Thesis

Bringing the FIFA Soccer World Cup to a City

The Advantages and Disadvantages to Bringing the Soccer World Cup to a City

A large number of countries consider applying to… read more

Thesis 8 pages (2709 words) Sources: 8 Topic: Sports / Exercise / Fitness

---

View 100+ more related papers  >>