Publicly Financed, $1 Billion Buildings . . . in Use 4 Hours a Week, Less Than Half the Year

Building football stadiums with public dollars is in fact a mug’s game. With eight regular-season games, pro football rarely if ever pays for itself, no matter how many fictional economic impact reports the league’s captive economists and chamber-of-commerce sorts churn out.

“I’ve studied the economic impact, and it doesn’t warrant a public investment because it doesn’t pay off,” Oakland Mayor Libby Schaaf said of football.

–“The N.F.L. and the Business of Ripping Out the Heart of Oakland“; The New York Times (3/27/2017).

Clever furniture designers figured out a long time ago how to repurpose scarce real estate for multiple uses:  a Murphy bed, which allows the same room to do double-duty as both a Bedroom and a Den or Office.

Too bad there’s no equivalent for NFL stadiums, which take up acres of valuable land — typically public — then mostly sit idle . . .

P.S.:  Unlike some notoriously bad name transplants (“Utah Jazz,” “Los Angeles Lakers”), “Las Vegas Raiders” works just fine.

Runner-up name:  “Las Vegas Gamblers.”

See also, “Under Construction in Downtown Minneapolis: New Vikings Stadium“; “How Far Will Naming Rights Go?”; and “TCF Stadium.”

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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