duncan_idaho |
07-25-2024 06:37 AM |
Quote:
Originally Posted by vonBobo
(Post 17600463)
Bragging rights? Childish but that's about all a city gets from having pro sports...
As for tax revenue, no. It's well documented that cities struggle to break even on pro sports deals. Remember this business is only open about 12 days out of 365. And, most of the money spent at the stadium would have been spent in the metro anyway, it's not new money, it's just siphoning money from other businesses like the local pub or bowling alley.
It makes a lot more sense to have your neighbor pay for the stadium while you sell a few plane tickets and some bbq.
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1. Most cities don't have a 1% earnings tax that hits the game check of literally every single player who plays in a game in their jurisdiction, either. So every game, the city gets 1% of every game check for players on BOTH teams. For the upcoming year, the cap is $255M. The city is pulling in between $2M and $2.5M in earnings tax alone per season. This doesn't take into account coaching staffs for the Chiefs or any of the administrative employees or other employees.
2. If the Chiefs move across state line, the money spent at the Chiefs game is still going to be spent at the Chiefs game. Which means all that revenue is now being generated in Wyandotte County or Johnson county, rather than Jackson county. That money isn't going to go from the Chiefs to the bowling alley or local pub, unless the Chiefs completely move out of the metro.
The state of MO also has a jock tax, that I think is 2% of earnings. So it has incentive to keep tax revenue there, too.
I know there are financial studies that generally show stadium funding is neutral at best for the area. But Kansas City has some unique factors.
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