Clear eyes, full hearts, can't lose. That's the sports motto, but it seems like the industry can lose something...money.
Last night, John Oliver took on one of America's most popular industries - sports - and hit it with a little criticism. He's specifically calling out the massive amount of money that cities spend building stadiums. The public money that goes to building private infrastructure is not reaping the greatest return on investment for many American cities.
Economists have pointed out that stadium construction does nothing to increase jobs, income or tax revenue. Bankrupt cities like Detroit are simply adding to already massive debts to build these stadiums.
Put simply, one economist said:
"Rather than spend a billion dollars on a stadium, you're better off flying a plane over the city, dumping a billion dollars on the population and letting them take the money and spend it."
This also seems like a bad idea, but you get the point.
As a less-than-intense sports fan, it feels a bit unfair to comment on this, and I would love to hear from some sports fans or industry experts about their thoughts on the matter. From my standpoint, this seems like a ridiculous thing to continue spending money on when it's negative effects are so obvious.
For a quick summary of his argument, fast forward to the end and watch him give a Friday Night Lights-esque motivational speech urging cities to stop spending so much on stadiums.