Quote:
Originally Posted by Saul Good
Kietzman keeps talking about $X million per year lost because of the loss of the Big XII tournament. Last time I checked, it wasn't in KC every year to begin with.
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$20 million/yr.
He is ignoring the massive amount of revenue that will come from the loads of SEC fans hauling themselves to Columbia off-setting part of that.
More critically, he's just ignoring economic reality. The economics of one-shot athletic events are notoriously sketchy. He's claiming that the $20 million that doesn't go into Missouri because of the loss of the IIX tournament will now be gone from Missouri altogether. He just completely ignores that sporting events are fungible luxury goods. Most of the people that would have come to that event were local (as he admitted when he said that 1/2 the crowd was an MU crowd that now won't come). Those same people will simply reallocate their entertainment dollars to the Royals or Chiefs, etc...
The panic over these kinds of losses has proven to be unfounded in the past by numerous economic studies. Most places that have lost events like this have felt it to some degree, but ultimately it's been off-set through other businesses. It may impact an individual business here and there, but the impact it will have on Kansas City is nominal (and the impact it has on Missouri is simply non-existent).
It's just Kietzman trying to drum up more irritability in the area. Grind grind grind that axe, Kevin.