Stop Subsidizing Sports!

[@arkjag2991]

If stadiums were as great as everyone says, the team owners would build them privately with their own investment. It's that simple. Why the public doesn't understand that is baffling.

[@richdobbs6595]

Why the public doesn't understand: 1. Muh team! 2. It is really beneficial for the associated politicians and team owners, and the restaurant and bar owners, but the cost is spread to wide and thin to tax payers. 3. People in America have a bias towards optimism with regards to the likelihood of success for their particular community. However, I'll point out that your initial premise is a bit weak. The argument advocates make is that there are positive externalities for the community. Team owners can't capture these benefits, so it is too risky for them to self-fiance large stadiums. So really, you need to convince the public that sports doesn't have positive externalities.

[@richig4232]

They are actualy that great, look at the EPL vs Serie A. Unless you get continuous public money in the stadium you can't compete againts a private stadium.

[@homewall744]

If you are mystified about this, you must be mystified at the far larger sums spent on the military to attack poor people in faraway nations that never attacked us.

[@richdobbs6595]

Ricardo Granados - I suspect that political/competitive situation is different in Europe than in America. What advantage does a private stadium have over a publicly financed stadium for team owners? In America, team owners can get a big chunk of seat revenue, box revenue, and concessions revenue, while the cost of construction is financed by regional entertainment sales taxes and naming rights.

[@MilwaukeeF40C]

"really, you need to convince the public that sports doesn't have positive externalities" Or that "positive externalities" are not moral justifications.

[@mirschultz9761]

The players are paid multimillions. The owners are multimillionaires and billionnaires. Why the EFFING HELL are we subsidizing anything that pretty much is run and benefitted by multimillionaires????

[@richdobbs6595]

Because we want to make the economy even more towards the Winner-Take-All side of the spectrum.

[@JoshDonat]

In fairness to the players ... these are people in the top half of one percent at their profession. Anyone at that percentile in their career makes a BOATLOAD of cash. But you're only talking about major league sports in baseball, football and basketball. And when you're talking about players paid multi-millions, you're talking about only a fraction of even THOSE guys (a HUGE volume of MLB players earn less than $1 million annually ... though all more than $480K ... which is still a lot, but not multimillions...). The place we see this issue more starkly is with smaller towns who commit millions to build infrastructure to support minor league teams. Amarillo, Texas, is an example; they're about to cough up some $55 million for a stadium to house an incoming Double-A minor league baseball team. San Antonio is being asked by its minor league team to shell out even more to build a brand-new stadium (they already have one) because their current ballpark is not suitable for Triple-A (it's pretty crappy). Thing is, the team in SA has been in charge of maintaining the existing stadium for more than a decade as part of their lease with the city and they've let the thing into disarray. They don't make any meaningful improvements to the facility and blame the city for a park that's become an absolute dump. That's where this vid makes sense. It's not in the major cities; it's in all the fly-over states and towns yearning for local sports programs that leech off the teat of the taxpayer so they can make profit.

[@mirschultz9761]

I live in a major city and we still have to debate about funding arenas/stadia. I would always vote AGAINST that. Let the owners and top players find investors or fund it themselves. I have no interest in my taxes paying for venues that 1. I won't use at all and 2. can be paid for by the wealthy players, owners, and investors who love those sports. From a local paper report this year: "Before it opened in 2012, Marlins Park was paid for with $488 million in bonds from Miami-Dade County and the city of Miami itself, according to Georgia State University’s Sport and Urban Policy Initiative. That was more than 80% of the cost of the entire facility, with bond interest bringing the city and county’s total payout to $2.6 billion by 2049. That bill has been a sticking point for both the city and the county. When Miami Mayor Manny Diaz’s term expired in 2009, city voters shunned Marlins-endorsed candidate Joe Sanchez and elected Tomás Regalado by a nearly 3-to-1 margin after Regalado called out former Mayor Diaz for his role in the ballpark project. Miami-Dade County, meanwhile, dumped county Mayor Carlos Alvarez in a recall election in 2011 and handed his seat to ballpark opponent Carlos Giménez. " I voted for anti-park funding candidates.

[@mirschultz9761]

And are you saying the top .5 percent of nurses, elementary teachers, police officers, electricians make BOATLOADS of cash? Not anyone, sorry.

[@JoshDonat]

Out of curiosity, do you know how much the Marlins pay to the city of Miami and to Miami-Dade County as part of their lease agreement?

[@JustinWhangYt]

Infrastructure is falling apart all over the country, but let's spend money to make rich people richer.

[@ronpaulrevered]

Or let's auction infrastructure off to someone who can actually maintain infrastructure.

[@learnpianofastonline]

Well stated.

[@ronpaulrevered]

What are you talking about? There is tons of successful business in America. America isn't the best place to do business in the world and it's because of government. Singapore and Hong Kong and New Zealand are doing better right now because of economic freedom.

[@homewall744]

That's our tax policy too. And most of our regulations and licensing too.

[@ronpaulrevered]

You could say the same thing about any good/service, but guess what? Those producers of goods/services competing for the $ of consumers keep the world spinning round. I'd rather pay who I want to pay and not be extorted by the government. If you don't want to sell your property for a road, then don't. If you want to charge a high amount for the road you built because you have solar powered heaters that melt snow, then test it out. If you want to avoid that road and take the cheapest route, then take the method. Government has no role in the lives of free individuals, their property, and their contracts.

[@blokeabouttown2490]

Governments should not fund sports or arts. Let these things survive on their own merits, if people want them and see value in them then they will pay for them.

[@mistermood4164]

art collections actually increases in value, and can be sold off if needed.

[@danil874]

@white oh, sweetie, it does, it is called taxation, and it is a theft

[@danil874]

@white that's actually mostly no good. It is called state-owned enterprises and they often have state monopoly or compete with privately owned enterprises on non-market terms. And even if we don't mention those problems, there is corruption problem - politicians will be trying to influence this enterprise or get money from it (more that actual profit, and often for own benefit). So yeah, mb that is better than taxes, but still a slippery slope

[@gidzmobug2323]

@@mistermood4164 some items in a collection are on loan from other countries or other people. Selling would not be an option for the museum.

[@kalimacho1]

I;m not libertarian but agreed...im my opinion Only healthcare/military/education/welfare and other essential things should be subsidized

[@vaibhav2k13]

This channel is heavily underrated.

[@NomadJournalistNews]

Nailed it! I love sports, but it absolutely confuses me that hundreds of millions of public money is used to fund private business activity. No doubt, the businesses building stadiums and selling merch make money. How that money ever comes back to the city - or covers the initial spending - has never been explained to me.

[@skenzyme81]

Politicians want them because it allows them to enrich wealthy developers who will in turn underwrite future political campaigns. If they lose the election, a cozy board or VP position awaits.

[@paulhendrix8599]

Sean Kelly Good point.

[@antiprismatic]

Sean Kelly whoooaaaa word.

[@TreeforLife]

Sean Kelly You do realize that if they put a stadium down, the gov can charge a shit ton for property tax?

[@TreeforLife]

Sean Kelly Also, no, if your dumb enough to realize that the gov can also make money off of concerts and other such events since they would own the stadium. And no they don't ruin the local economies. All buisnesses around the stadium usually will go up. Or say the super bowl happens at that city, then just about everything in that city will do fucking great

[@MK-ex4pb]

Tree for Life 2915 for the stupid bore, then it all goes back to normal

[@118Combination]

As I get older I've become much more jaded and disinterested in sports. I used to religiously watch ESPN and eat up sports as much as possible. Stuff like this stadium thing, the dumpster fire that ESPN has become, and the fact that I have to care about actual important things like now like taxes, rent, etc. make it much more difficult to care.

[@Martial-Mat]

Now that I know how utterly corrupt all sports are from the lowest level, and what cheats most of the athletes are, I no longer have any interest.

[@MilwaukeeF40C]

I like recreational sport. Especially if it involves chemical propulsion or some kind of meat.

[@seththomas9105]

I was just telling a friend of mine the same exact thing yesterday.20 years ago I always followed my college football and basketball teams and was a big MLB fan. This year I watched maybe one Cubs game the whole way though. I didn't leave sports, sports left me (and many others).

[@MilwaukeeF40C]

They should have just cancelled baseball forever.

[@MrWhite-pn7ui]

+Bushrod Rust Johnson Taco Bell gives me incredible chemical propulsion.

[@Matthew-qy7op]

I completely agree. Los Angeles is building a $2 billion stadium for the Chargers and Rams that can hold 85,000+ fans....but the Rams had blackout dates due to a lack of interest last year! Not to mention, that both world class stadiums: The Rose Bowl & Memorial Colosseum are in the area of Los Angeles and both hold an EXCESS of 100,000 fans. Why does this make sense? Los Angeles has a severe water problem. So does Israel. Israel built an ocean water to freshwater converter for the entire country. Problem solved. Los Angeles builds a stadium that's unneeded, unnecessary and an overpriced luxury for a city and state that's dying due to taxes.

[@EverettBurger]

As long as local TV stations televise an 18 year old high school senior publicly deciding which college he will be playing sportsball by playing a hat on his head, and calling this 'news", we aren't going anywhere. Awaiting the local TV stations televising an 18 year old high school senior publicly deciding which Ivy League college they will be accepting a full ride academic scholarship. But, I'm not holding my breath. Lastly, students, parents, teachers, and coaches....there is more money available in academic scholarships than athletic scholarships. To continue to put more weight on sports than academics is a disservice to your kid.

[@SOJACjac]

wait.... the public is paying FOR A FUCKING PRIVATE BUSINESS

[@BobWidlefish]

"Don't open your eyes -- you don't like what you see. I have found, you can find, happiness in slavery." Ignorance is bliss. Without euphemisms and subversions of language and widely believed lies about history and many levels of abstraction and indirection, there's no way there would be such widespread support for most of what government does. If everyone understood the moral and economic implications of their political choices, most people would choose differently.

[@ty2010]

has been for like 40 years or more

[@ozwunder69]

Fireproof Troll more than but some countries have had universal suffrage for less 40 years

[@Approx_99]

jac jac, oh, hello there! You must be new. Yeah, through subsidies and tax breaks, just about all major businesses get a fiscal hand up from the local, state, and sometimes federal government. This is what politicians mean when they claim to know how to "bring jobs into the local economy". When Nissan or Toyota or similarly sized corporation decide they need to build a new factory in the US, they let the states know what sort of economic impact the venture will have and allow states to bid on what sort of deal they're willing to offer. One way or another, the taxpayer usually helps fund the economic growth in a region.

[@83joonior]

Ethan Do we verify the possible economic impact with a 3rd party, instead of allowing self-reporting of studies to be good enough, like Monsanto and their GMO's? Sports stadiums are a racket; I assume it's all behind closed doors with no oversight like so many things.

[@twitchyhog7732]

Partisanship:"he's mine" "Fuck off he's mine" Bipartisanship:"I'll hold him down" "I'll kick his ribs"

[@stevenstehling]

When the Milwaukee Bucks threatened to leave if a new arena wasn't built I was excited for them to leave. We didn't need a repeat of Miller Park. Some guys bought the Bucks for $550 million and then expected the surrounding counties and state to build a new arena. That's pure nonsense. That would be like someone buying Oshkosh Truck and threatening to move if the taxpayers didn't build a new factory. The taxpayers are not responsible for building the infrastructure of your business. If we do pay, we should be treated like any other investor. The money should be in exchange for a shares of the business. If you want our money, we get a share of ownership, profits and a proportional vote on executive decisions. If you want to move at some point in the future, you'll need to buy out our shares or get our approval. There is a litmus test to know that a stadium is a terrible investment. If it was profitable, then private investors would be lining up to get in on the action. It is only profitable if the investors don't have to be repaid and the only investor willing to do that are politicians with your money.

[@chaosXP3RT]

Steven Stehling The Green Bay Packers got it right. It's the only publicly owned NFL team, but the tax payers get a say in almost everything that the team does.

[@bjnowak]

Steven Stehling go bucks!!! 😛

[@joshmayne2853]

Brewers get a new stadium and they still suck. Bucks get a new stadium and they still suck. Packers have been in the same place for 50years and they are great. Fuck the sports palaces! You play in the dirt or gtfo.

[@Yeen125]

Except that the Packers managed to get the city to help pay (via an added sales tax) for a large-scale rennovation of Lambeau Field back in the late 90s and early 2000s. They were very lucky to be able to pay that back and end the sales tax (which can't be said for Miller Park). The only pathetic excuse I can think of is that the Packers are techically non-profit and fan owned (the only one in the NFL) and the stadium serves as a tourist trap during the off-season.

[@MilwaukeeF40C]

I don't want to be forced to "invest" in a business even if I do get dividends.

[@IcarusFalling99]

Wait... what? Don't they get money from sponsors, this shit is paid for with tax dollars? I'm not even in the US what the hell is this..

[@MeesterII]

Husqi Leipuri yes, most American sport stadiums are paid for with some help from local taxpayers. Almost all of them threaten to leave if local politicians don't cave in to their demands too.

[@edictzero]

euro soccer teams like Real Madrid are much worse than American sports however when it comes to subsidies

[@MeesterII]

Interesting, no idea that Real Madrid was part of the problem. The lure of sports and taxdollars is strong, would probably take strong federal legislation to fix it.

[@kevinclements8749]

This is my Adam Ruins Everything. You know because its accurate

[@gear1100]

Yes but it's less gay

[@jeremym8490]

2023 makes this extra special as Oakland had renderings for the A's and they decided to go to Vegas anyways.

[@JoshDonat]

This ... is ... fantastic. Love sports. LOVE them. Worked in sports for a while. And I love every word you said. Every. Single. Word.

[@mothafraker]

There are a few teams that build their stadiums with private money. When the Moda Center(then called "The Rose Garden") Paul Allen(the guy that helped Bill Gates found Microsoft) owner of the Portland Trailblasers used mostly his own money. The rest was private investment. Levi Stadium was done the same way. So it CAN be done. More cities need to wake up, and follow San Diego's and Oakland's example(can't believe Oakland told the Raiders No, but glad they did) I am a sports fan, but NOT of publicly funded stadiums.

[@MK-ex4pb]

mothafraker of course it can be done. They know it can be done. They just figured out a good racket

[@MK-ex4pb]

mothafraker when Vegas fails, the raiders will come back LMAO

[@InfinteIdeas]

Mr. I and family have taken out loans with the city which they paid back within a year, I'm not sure how you feel about this if they pay it back that quickly.

[@seannicholson1565]

That wasn't a local politician, it was the owner of the two teams who will use the new stadium there. He is personally responsible for any cost overruns and the team is paying for a majority of the stadium costs. Only a small portion comes from the state and it is from a motel/hotel tax and not the taxpayers in the city. I agree most sports teams are scams, but the new Atlanta stadium is a unique situation among the usual crap.

[@MK-ex4pb]

Sean Nicholson a tax is a tax

[@davidradtke160]

That taxes still makes visiting the city more expensive this depressing tourism, to subsidize a stadium.

[@SpareSimian]

Love the list of hidden college fees!!!

[@Meirstein]

The reason the LA olympics will be so cheap while ones like Beijing were so expensive is that they aren't building anything new for them. LA is getting a bunch of new venues in the coming years for incoming sports teams, so they're just going to use those.

[@whitenationalismornothing1903]

the real scam is tax-payer money. wrap your head around that one.

[@danic_c]

Something about them putting in an image of the Mesoamerican ball game killed me. Thanks Andrew Heaton.

[@mattg629]

Definitely some good points here...... Hooooeeeeewwwwwever, the South Eastern Conference schools are a major surplus to their schools while the players get free tuition and a stipend that most college students could live on and send money home. Same with Sun Belt.

[@Putseller100]

But it is mandatory to base our lives on strangers playing with a ball

[@occasional_doomer]

I agree with most of this and I'm not a libertarian. This shit should be not be subsidized by the public. We have about 1000 better places to spend tax money(let's patch up some crumbling infrastructure maybe). When it comes to the Olympics. . . I don't know. It is a matter of national pride.

[@Martial-Mat]

I think national pride is the absolute worst argument for hosting the Olympics. Hosting it is just an internation dick waving competition. Aren't you supposed to be past that crap by the time you leave college? Billions on the Olympics? But but, all those immigrants taking money from the country! :-/

[@occasional_doomer]

Not sure what the last part of your comment has to do with the rest. Regarding the rest, you're a fool if you don't think national pride and international reputation matters. When you get down to it, it's a symbol of the abilities of our country in comparison to the other host nations of past games. This effects to one degree or another tourism, trade, even diplomacy, and pretty much any other area connected with international relations. It's not vital, but paying a few billion to host the games every few decades really isn't that much of an investment for the US or event the american city that hosts them.

[@ozwunder69]

Mataeus The Apostate ever watch don't be a sucker by us army 1947

[@ozwunder69]

Mataeus The Apostate a few billion lol

[@42billybob]

The spirit of the Olympics is supposed to be the idea that you can set aside political tensions long enough to get together in friendly competition. And I think that's a worthwhile diplomatic investment. Maybe we can dial back the fucking multi-million dollar fanfare ceremonies and brand new stadiums for every imaginable form of sport though.

[@blueknight5754]

Agreed...I'm all for fiscal responsibility..tell the owners to fund it themselves! I enjoy sporting events but I'm more for balanced budgets..I wonder if you could make a cheer out of that

[@nand8203]

Let's not subsidize anything

[@Frilleon]

I agree with the video completely but this video did little to convince someone who doesn't understand why subsidies and taxes in general hurt the average citizen.

[@NorthernXY]

I realized/learned all of this about four years ago and the switch for me enjoying watching football got flipped off. Haven't watched a game or cared about an outcome since. Have no idea who won the BCS or Superbowl last season.

[@thepleblian2079]

After I worked for NACAR I lost all interest in professional sports.

[@magottyk]

Would people miss highly paid pro sports if all that was left was gifted amateurs?

[@MilwaukeeF40C]

It would be the same people, so no.

[@richdobbs6595]

Apparently they would. Major league baseball franchises average 40 times as valuable as the best minor league teams. Now minor league players are not amateurs, but their salaries are poverty level. With no possibility of making it big, the best native players would migrate overseas, while foreign players would never play here. People choose to watch televised games over attending local school matches or amateur leagues in person. Ticket prices for major league sports are high and stadiums are packed. It would take a revolution in attitudes to favor loyalty to local teams and cheap tickets over the current focus on major leagues.

[@TreeforLife]

Rich Dobbs Yes. Cause around 500,000 a year is the poverty line.

[@richdobbs6595]

Tree for Life 2915 - I think you missed what I wrote. From Google: How much money does a minor league baseball player make? While the minimum salary in Major League Baseball is $500,000, many minor league players earn less than the federal poverty level, which is $11,490 for a single person and $23,550 for a family of four…. The three players suing baseball also stress that minor league salaries have effectively declined in recent decades.Mar 6, 2014

[@MK-ex4pb]

magottyk that's how the Irish leagues are and it's just as big a deal, but much more affordable and the players all have regular jobs

[@GOBIAS.INDUSTRIES.]

The ruins in Athens is one thing, but the state the World Cup left Brazil in a few years ago is downright disgusting. They crushed the economy to build stadiums in the middle of the rainforest and they haven't been used since.

[@paulwickward6703]

I think the reason for the $5billion estimate for the olympics is that LA already has most of the necessary infrastructure in place. They’re still going to go way over budget of course

[@Libertyfudge]

I love Andrew Heaton's skits, he's very funny. I wish EconPop would return

[@timo191]

I agree with the point about the olympics and college sports. But, when you look at say Yankee stadium or Fenway park, the are surrounded by small businesses (bars,restaurants,souvenirs etc) that have been there for decades.

[@MK-ex4pb]

If stadiums are so good for the economy, why can't the chamber of commerce finance them?

[@Alberta1stPodcast]

Awesome!the second video this week from reason tv that made me cry with joy & hope 🙏😭🥀, more!!

[@jillgorze950]

Well, you don't have to tell me. I live in Pittsburgh and we now have a stadium for football and baseball due to the owners, particularly the Rooneys, and the politicians. Even though there was a referendum that The People voted against having two new stadiums...overwhelmingly. So the people who don't watch or follow sports and the poor are subsidizing the wealthy team owners who continue to push for more taxpayer money and sweetheart land deals from the politicians.

[@JackDecker63]

Why cannot the US Congress and President simply pass a law prohibiting state and local governments from using taxpayer money for sports teams and events? Problem solved.

[@deltasword1994]

It's simple supply and demand: if enough people want a stadium, the private sector will provide it.

[@jc-wd5bu]

bread (ebt) and circuses (sports)

[@andrewhallford7267]

Before today I had no idea tax money was used at all to fund sports.

[@maxhess3151]

Why are Reason's sketches so much better than John Oliver's?

[@kielweiss3606]

Football college programs largely pay for themselves and lots of schools make good profit off of them in ticket and merchandise sales.

[@the.parks.of.no.return]

Its the same in Australia. In Sydney the state gov knocked down a relatively new stadium to build another 1 billion stadium in its place. In townsville they built a stadium a year ago and it's rarely been used - final cost 300 million ( on going costs). The builders most likely "donate" to election campaigns.

[@whitefox998]

Great video! Come to think of it, do libertarians even like team sports? I would think that there's got to be at least a few, but I've never met any.

[@RocketmanRockyMatrix]

whitefox998 Lacrosse

[@richig4232]

The English Premier League is the libertarians dream league. Arsenal didn't even get a subsidy for the Emirates.

[@MilwaukeeF40C]

I love dynamite fishing. Can't do that without a buddy.

[@Biologist19681]

I do. But I don't think that the government (by which I mean the non-sports-fans) should be forced to pay for it.

[@Boristien405]

whitefox998 - Classical liberal here. I'm a huge soccer fan.

[@SnapJelly]

0:50 I am very flattered that you think I'm a ''pretty boy''

[@ScreamingForClemency]

government services for your tax money: "we can't afford that" offensive wars and giant stadiums: *crickets

[@NickSports22]

wait...you think the government isn't spending enough on government services??

[@iAmTheSquidThing]

I'd generally agree. Although the 2012 Olympics does seem to have totally regenerated the economy of previously derelict industrial land in East London. Largely because our park used a lot of cheap, temporary venues rather than fancy white-elephants that would be abandoned after it ended.

[@TickedOffPriest]

Imagine that money going to academics.

[@BlazeGuitarLessons]

I love his sense of humor

[@curioustgeorge]

references please! I believe it but when you're debating academics (professors at these universities) they want a source

[@MilwaukeeF40C]

This video is parallel to the debates that economics academics are already having (not much debate though- I doubt even Krugman supports this shit). Anyway if you want the academic discussion, go look for that.

[@curioustgeorge]

Bushrod Rust Johnson poor excuse. News Media groups have strong credibility when they're able to support their claims. if Reason wants people to believe claims that are verifiable (you know...using "reason") they would then point to those already existent videos and this video has no value as a duplicate. their article in the description has references to some claims. I know I just mentioned academics but when you debate people that reason, they like to see references to truth claims. I would.. otherwise I'd be a Bernie fan and be won over by rhetoric alone

[@justinb2630]

Professional sports also keep the three public asleep and distracted from the very real problems we face as a nation. We would be so much better off without it.

[@necroticossuary]

But how are children going to learn about teamwork and leadership without tax-payer subsidized, privately owned, professional sportsball?

[@goonmotw]

I mostly enjoy the Weekly, but this one lacked follow-through. I get that it's a bad deal to spend tax dollars to help fund a new stadium (especially for franchises worth tens and hundreds of millions of dollars), but they never got to the part about it hampering the local economy. I don't accept that having as many as 80,000 people - largely from out of town - showing up on a game day (or a concert, or convention, or other uses for the stadia) hurts the economy. Hotels, restaurants, etc. love having a big draw in the neighborhood. For next year's Super Bowl in MSP some people are leaving town and renting out their homes for thousands of dollars for the weekend. That's good for the economy.

[@ryantpritchett2814]

"If you build it they will come." Sounds like someone is experiencing the Mandela effect.

[@YusufNasihi]

Anyone with even a mild interest in sports should look into the promotion/relegation system that European and South American countries use to govern soccer.

[@roysmith770]

Holy crap, did I see an add for MasterClass with Paul Krugman on Economics? Was Spongebob Squarepants too busy? Paul, "It really does now look like President Donald J. Trump. And markets are plunging. When might we expect them to recover? A first-pass answer is never." The stock market broke 23,000 and unemployment benefit requests dropped to a level not seen since the early 70s.

[@roysmith770]

"'MasterClass with Paul Krugman on Economics?"' shouldn't they have posted this 15 days ago? Next - Uwe Bowl on the art of cinerma!

[@MxMattyB]

Definitely nailed the Jon Stewart earpiece gag

[@Saltatory_]

Make families pay everything for their own education and just watch how fast tuition comes down and luxury programs get eliminated.

[@mitchellapple9184]

Universities make money from sports, cities economies are dramatically effected by franchises, more positive than negative.

[@ChickenPizza]

I suspect the gambling industry is the real reason why this happens.

[@sophmore90]

The Olympics is horrible for economies with no existing stadiums and athlete housing. Only a very small amount of cities fit this criteria and would actually profit from the Olympics. Los Angeles is one of them (summer only of course). I think London is the other that actually made a profit for the same reason but not as much as L.A. The other host cities lost billions and continue to lose billions on unused stadiums (white elephants if you will).

[@leftoverpastaz1182]

We built THAT nice of a stadium to have THAT bad of a team.

[@moneymikz]

You sure kicked the ball right through the basket for a homerun!!

[@partygrove5321]

Sports are the new religion. Spending public $ on it is subsidizing religion

[@jmaverick70]

On another note when he puts on that hat he starts sounding like Red Green! lol

[@coolidgedollar2154]

The novelty foam hand has 6 digits... Also, this is why Austin is such a great place to live: largest U.S. city without a professional team.

[@homewall744]

If the public doesn't support rich team owners and their rich players, who will? Fans? No way, José.

[@borgue]

My favorite sport is the one where 1 score is worth more than 1 point.

[@SirTenenbaum]

I'm surprised how funny these videos actually are.

[@paradox5939]

Vomitorium....... At least something useful

[@carultch]

Vomitorium just means a hallway you use for entering and exiting a stadium. It has nothing to do with what you know as vomit.

[@honestabe2726]

Arthur "The Jinx" Blank. Welcome to Atlanta home to the worst traffic and the worst case of choking in the Super Bowl. -I'm from Ga and a Falcons fan btw

[@GregItUp]

When you think that LA has a population of roughly 4 million (like 3.97), that comes out to $1250 a person. If instead of building a stadium they gave that back to every man, woman, and child they'd spend it, boosting the economy. Or use that money to improve the city. Or here's an idea, maybe not take it from the people in the first place.

[@erich5686]

Should I crossdress to get a soccer scholarship ? I didn't make it mandatory for the school to have this program. It won't pay dividends to the student body....just got someone re-elected.

[@Estabanwatersaz]

Greatest points ever! Thank you so very much!!

[@hexazalea]

300 dollars on a vomitorium? 300 dollars on a hallway? also gulag space places are 500 dollars and you know that.

[@MegaRayland]

I see several sports fans who benefit from these stadiums complaining about this video.

[@mordantvistas4019]

"Loyalty to any one sports team is pretty hard to justify. Because the players are always changing, the team could move to another city…you’re actually rooting for the clothes, when you get right down to it. You’re standing and cheering and yelling for your clothes to beat the clothes from another city. Fans will be so in love with a player, but if he goes to another team, they’ll boo him. This is the same human being in a different shirt, they hate him now! Boo! Different shirt! Boo…" - Jerry Seinfeld Athlete of 50 years, and watching sports is profoundly boring. Whats the investment? Nothing.

[@alexanderx33]

Dat ending tho

[@douglasthompson9070]

He didn't mention that the stadium is not really owned by the team owner even though their name is attached. The stadium can make revenue for the city with other promoters and rentals throughout the year. It's not a total loss for the tax payer but breaking even is the host city's goal. Or at least it should be.

[@AKlover]

Sports have a way of making somewhat rational people turn off their critical thinking the other part of it is they imagine the costs will get passed off to somebody else. Appealing to and trying to inform the masses is a hopeless cause. Municipal governments teetering on bankruptcy is what will bring about change.

[@pjcgaming9548]

This is the first thing that I thought of when I heard about the 11 Billion Dollar World Cup bid.

[@SuperWagner23]

Aruthor Blank builds his own stadium. He built a brand new stadium for the falcons so using him as an example is not good. Ziggy Wilf on the other hand soaked the tax payers in Minnesota

[@iThomas2000]

I don’t think Arthur Blank is a “local politician”

[@dylanthornsberry8778]

I think some schools make money off sports teams though. Like money from fans and the fact that the school has no property taxes on their stadiums.

[@RondelayAOK]

I'm grateful Chicago didn't get the Olympics.

[@Martial-Mat]

The same argument applies to opera, theatre, and art galleries. All are publicly subsidised, and they don't even PRETEND that they will give a return on investment. If the cultural enrichment argument works for them, it certainly works for something with far wider appeal. The big issue is not whether the state should subsidise sports or the arts - I would argue that it's more valid than funding wars or weapons research - the question is where is the sweet spot between cultural enrichment and throwing money away. Billions is way over that point, although the massive increase in sport participation after the Olympics could be used as the best argument for it, especially in countries with single payer health care.

[@AVOH96]

Mat Broomfield I'll agree that the same could be applied to the cultural institutions that you point out, but I think the deal here with sports is that the scale of spending is orders of magnitude larger. I do believe in the inherent value of sports, but at an intermural/local level. Professional sports, like so many other things, have ballooned out of control and common sense.

[@MilwaukeeF40C]

"The same argument applies to opera, theatre, and art galleries. All are publicly subsidised" Not close. Most are private non profits.

[@MK-ex4pb]

Mat Broomfield you can't have your culture of you get invaded for not having an army, idiot

[@Martial-Mat]

America has the largest military budget on the planet by orders of magnitude. It wastes trillions of dollars on equipment that the generals don't want, wars that are not needed, bases in countries that are of almost no military significance, or which should be providing their own military. You could slash the US military budget to ten percent of its level or less and the country would still be safe. The military budget is high because politicians are bribed by defence companies to keep the nation in a constant state of panic about the threat of war. Fact, America has been at war with foreign countries for all but 25 of 230+ years of its existence since independence - more than any other nation on the planet. In that time it has been attacked twice on its own soil - once at Pearl Harbour and once on 9/11. Its military budget did not prevent either attack, and frankly the disgraceful nuclear attacks at Hiroshima and Nagasaki were unnecessary and could have been achieved for a fraction of the cost. Face it, America is the largest warmonger nation on the the planet, and innocent millions of lives would be saved if it never had a military.

[@MK-ex4pb]

Mat Broomfield there's no evidence that not nuking Japan would've achieved roughly the same result. The only argument against them really is that we shouldn't have sought an unconditional surrender. They were willing to do that earlier. On the third hand, had the nukes not been used there, it's quite possible more of them would have been used in a future war with more grotesque consequences. Those two drops may have ensured no one ever does that again.

[@JoeCiliberto]

now please do one on tax subsidized and incentivized industrial mega-projects.

[@murdoc4794]

"Go Big Ten" - Andrew Heaton 2023

[@mikedimat7817]

Aye, Phoenix Rising's stadium bid is 100% privately funded, which is pretty rad

[@route2070]

Or by planning properly. LA's facilities from their previous 2 olympics should cut the cost of hosting in 2024....if they used them.

[@walterbuschbacher1122]

Could someone please make a list of the percentage of tuition that goes to sports.

[@humzahhassan4521]

walter buschbacher like 1% of average it’s still wrong but nothing compared to everything else

[@--Paws--]

I always wonder why or how the taxes and living costs keep getting higher - and this could be one of the factors.

[@SORENEAGLE]

It would have been worth acknowledging tax revenue as part of the equation.

[@davidradtke160]

Not a libertarian but 100% onboard with this!

[@GlennTXstate10]

I agree public sports teams stadiums should not be paid for by the citizens but most (at least in my state of Texas) vote and pass the necessary documents to funds new stadiums. College athletics are private institutions for the most part that can do with their tuition and donations as they please. When I was in college we could choose to update, read and/or force the classes to come to fit the bill and this is what this seems/ . Capitalism dictates that because we love football, companies will try to caputure that and make money on it;

[@iamnowawakepleasedontletme6357]

These videos are so dang good.

[@Spaceddout]

Lol that was the Falcons owner Arthur Brooks, not a local politician Heaton!