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Hot Topics - Athletic Business

Hot Topics - Athletic Business | Sports Facility Management.4437790 | Scoop.it
Athletic Business articles about the environment, gender equity, crowd control, sports medicine, team travel and substance abuse.

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Should Sports Teams Receive Tax Breaks?

Should Sports Teams Receive Tax Breaks? | Sports Facility Management.4437790 | Scoop.it
Here are some of the costs, pros and cons of sports teams receiving tax breaks. 

 

In a very general sense, the question of tax breaks for sports teams falls under the category of whether or not subsidies are desirable. From an economic perspective on subsidies, some could say that almost all of them create suboptimal outcomes. This is because under normal market conditions market forces move automatically towards allocative efficiency. Subsidies distort the ability of markets to correctly allocate resources because they provide an incentive to continue the subsidized behavior, even when it is not profitable or productive to do so.

 

Why Subsidies Are Useful
The counterargument is that subsidies are useful for this very reason. They allow government to shape economic outcomes toward desired policy objectives. For example, the money used to fund alternative energy sources. So although the subsidy is creating a less than optimal use of resources, people believe that is balanced by the development of technology that might not have otherwise been built until much later, if at all. Another reason people champion subsidies is to protect jobs or create growth. However, the job market is subject to the same economic forces as any other. By creating subsidies in unproductive industries people remain in jobs that are also unproductive; this makes society worse off. In the case of sports teams, the most commonly cited reason for subsidies is that it creates jobs and improves revenues. Yet there have been studies that conclude that this is not always the case.

 

Not All Need Tax Breaks
Most sports teams are actually quite profitable and do not actually require tax breaks to remain competitive. Examples of the types of subsidies sports teams regularly enjoy include: tax-deductible ticket sales (including on luxury suites), reduction of taxes on revenue via direct tax credits and sweet-heart deals on new facilities. What this means is that corporations, and even individuals, can deduct a portion of what they spend on tickets in a similar manner as donating to a charity. In the case of new stadiums, the burden of building and operating arenas gets pushed onto the taxpayer while owners reap the related revenues. Unfortunately, due to the secretive nature of professional teams, most financial information is inaccessible thus preventing the public from accurately gauging the level of financial support these franchises receive.

 

However, let us be fair and consider the case where sports teams are legitimately struggling and only government aid can keep them afloat. This hearkens back to the beginning of this piece and the discussion on whether or not it is believed that subsidies are useful. Insofar as civic pride is concerned, maybe it is considered appropriate to prop up a flailing team. People have an emotional connection to their sports teams. They buy tickets to games, purchase merchandise and follow every story about their chosen champions. Despite this, only a very small portion of the population (20%) thinks that tax breaks for sports teams is good policy.

 

The intuition for this is that if a sports team is failing it is because it is poorly run and is spending itself into a hole, or the fans do not support it with enough revenue to continue. Either way, this is not an enterprise that should be having public money thrown at it. Perhaps the largest segment of government support goes toward the construction of stadiums. Fancy new stadiums attract fans and sports teams alike.

 

Cities often will use the promise of a new stadium to entice teams to relocate. Is this a good investment on behalf of the public? Almost all economists and independent development specialists conclude that the rate of return on these projects is less than what could be had on alternative projects, with some sports contracts failing significantly. Further, those cities that invested heavily in sports stadiums have experienced, on average, slower income growth compared to their peers who chose otherwise.

 

The Bottom Line
There is no silver lining. The public does not support deluxe treatments for sports teams in the form of tax breaks, the data does not support tax breaks for sports teams and commonly accepted economic theory does not support tax breaks for sports teams either. This leaves fans and citizens paying double as both their taxes and discretionary income go towards profitable franchises instead of schools and roads. The only people who benefit from such activity are those who own, operate and work for sports franchises. As Norman Braman, former owner of the NFL's Philadelphia Eagles, put it: "the taxpayers are a bunch of suckers."


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Vinnie's curator insight, February 17, 2015 9:08 PM

Basic breakdown of public subsidy benefits for sports teams.

Bryant Tucker's curator insight, July 24, 2016 6:10 PM
This is a great article that gives an understanding of both the good and bad of the tax breaks, as well as the notion that some teams are very profitable and could afford their own building efforts.
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10 Terrible Sports Contracts

10 Terrible Sports Contracts | Sports Facility Management.4437790 | Scoop.it
What are some of the sports contracts that had terrible consequences for the teams that wrote them? Click ahead and find out.
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Richie Incognito files grievance against Dolphins to lift indefinite suspension

Richie Incognito files grievance against Dolphins to lift indefinite suspension | Sports Facility Management.4437790 | Scoop.it
Get the latest NFL news, video updates, scores, schedules, standings and more on Sporting News.

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Five lawsuits that will change sports - ESPN (blog)

Five lawsuits that will change sports - ESPN (blog) | Sports Facility Management.4437790 | Scoop.it
ESPN (blog)Five lawsuits that will change sportsESPN (blog)Its concussion policy? The NFL isn't without options. It can take the narrowest route and go back to the Minnesota court to argue that its policy isn't actually in conflict.

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Athletes' Lawsuit Clears Hurdle - Inside Higher Ed

Athletes' Lawsuit Clears Hurdle - Inside Higher Ed | Sports Facility Management.4437790 | Scoop.it
Athletes' Lawsuit Clears Hurdle
Inside Higher Ed
The antitrust lawsuit, O'Bannon v.
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Fifth concussion lawsuit filed against NCAA - USA TODAY

Fifth concussion lawsuit filed against NCAA - USA TODAY | Sports Facility Management.4437790 | Scoop.it
KSHB Fifth concussion lawsuit filed against NCAA USA TODAY The tally of class-action lawsuits pertaining to concussions filed against the NCAA moved to five this week as the association is in the process of mediating a 2-year-old lawsuit that is...
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Concessions - Concessions Contracts Capitalizing on Consumers' Brand Loyalty

Concessions - Concessions Contracts Capitalizing on Consumers' Brand Loyalty | Sports Facility Management.4437790 | Scoop.it
To capitalize on game-goers' brand loyalty, today's concessions contracts are making room for purveyors of recognizable food products.
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Stadium Brings Joy, But Subsidies are the Real Issue | Group Think | BillMoyers.com

Stadium Brings Joy, But Subsidies are the Real Issue | Group Think | BillMoyers.com | Sports Facility Management.4437790 | Scoop.it
The loss of Seattle’s professional basketball team, the SuperSonics, has left a number of their prior fans in a funk that has not receded in time. They
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Jason Harrison's curator insight, January 26, 2014 7:05 PM

A look at subsidies from someone who experienced the loss of a team and the fight to build a new stadium to attract a new one.

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Proactive Crowd Control Planning Ensures Safe Sporting Events

Proactive Crowd Control Planning Ensures Safe Sporting Events | Sports Facility Management.4437790 | Scoop.it
In 1993, the “Camp Randall Crush” at the University of Wisconsin football stadium was a game-changer for campus safety officials as far as crowd control at sports events. On Oct.
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A systematic approach to stadium and venue security. « Human ...

A systematic approach to stadium and venue security. « Human ... | Sports Facility Management.4437790 | Scoop.it
Security Management for Sports and Special Events deals specifically with natural disasters, terrorism, crowd control problems and other large-scale threats. With this text, sport and facility managers examine the concerns and ...

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Steven J Vitale's curator insight, February 21, 2015 8:37 PM

"With this text, sport and facility managers examine the concerns and challenges to security and emergency planning for both sporting and non-sporting events held at their facilities."

 

Reference :A systematic approach to stadium and venue security. | Human Kinetics Sport, Health & Fitness Blog. (n.d.). Retrieved from http://humankinetics.me/2013/01/18/a-systematic-approach-to-stadium-and-venue-security/?__scoop_post=a8c2f080-ba2d-11e4-9161-90b11c3998fc&__scoop_topic=4097413#__scoop_post=a8c2f080-ba2d-11e4-9161-90b11c3998fc&__scoop_topic=4097413

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Crowd Control - Stun Guns Increasingly Used at Sporting Events

Crowd Control - Stun Guns Increasingly Used at Sporting Events | Sports Facility Management.4437790 | Scoop.it
Security officers are increasingly using stun guns to maintain order at sporting events, but are they taking crowd control too far?

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Justin Rash's curator insight, December 11, 2013 5:40 PM

add your insight...

Jason Cain's curator insight, March 22, 2014 10:37 PM

This is a popular article on how far security officers have taken the issue of security at a major event. Is this taking it too far. I believe so. There are other ways to maintain a crowd.

carlos vivanco's curator insight, July 21, 2016 12:07 AM

With sports fan violence on a rise, This article provides an overview of the increasing use of stun guns and tasers at an attempt to prevent riots and other sporting event crowd violence. This article outlines some of the common tools and recommendations in the industry and also argues against such use of violent measures.

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University of Alabama aggressively defends trademarks. How far is too far? - al.com

University of Alabama aggressively defends trademarks. How far is too far? - al.com | Sports Facility Management.4437790 | Scoop.it
University of Alabama aggressively defends trademarks. How far is too far?
al.com
As the Crimson Tide tries to again defend its national championship in football, no university may defend its trademarks and logos more vigorously than Alabama.
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