In class on March 15th continued through March 17th we discussed the potential source of income and revenue for team owners as well as leagues. Stadium revenues consisting of leases on club seats, personal seat licenses and general gate receipts remain as the top money maker. In order to build a new stadium a city must rely on public funds to construct and maintain facilities, as well as implement income tax deductions on tax returns. The opportunities a new stadium can bring to not only a team, but a city are limitless. Jacob Adelman of Yahoo Sports pinpoints these same arguments as he discusses the naming rights deal regarding the new football stadium being built in Los Angeles. While there is no football team located in Los Angeles, by implementing a new venue they will be able to infuse money back into the economy. This will attract other businesses and media attention which in turn will potentially boost sales and economic development. Los Angeles Mayor Antonio Villareigosa, who was eager for football’s return, as well as for the work opportunities the project would provide was quoted as saying: “This is more than just about football. This is about jobs.” The possibility of football returning to L.A for the first time since the 80's will by itself help promote a positive psychic and boost moral around the city.
http://sports.yahoo.com/nfl/news?slug=ap-nfl-losangeles
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