We have been thinking about the interesting developments that have been going on concerning the NFL coming back to LA: The city, which has not had an NFL presence for two decades, now “finds itself with three teams that could relocate here and four stadium proposals,” according to the LA Times.
One of those teams, the St. Louis Rams, might build a $400 million stadium in St. Louis instead. What makes the idea of having an NFL franchise in town so attractive, and who should pay for it – the team or the taxpayers?
Defining the true economic benefit of what bringing an NFL team will actually create is debatable. According to a Daily Kos story, “Sports-Stadiums-Have-No-Impact-on-Municipal-Economies-So-Why-is-it-We-Still-Subsidize-the-NFL” – Michael Leeds, a sports economist at Temple University, argues that there is no economic impact of having a stadium in town.
On the other hand, many LA “politicians, developers and business leaders, including basketball legend and sports icon, Magic Johnson, consider an NFL team both a matter of civic pride and an irresistible economic opportunity and are working hard to lure a team to our sprawling metropolis.” Stadium developments can be a real estate catalyst, as well as an opportunity to add sports bars, restaurants and purveyors of logo merchandise to the area. Cities can benefit from stadiums if they navigate the process carefully.
RSG provides in-depth economic development, real estate analysis and the types of services that need to be answered on both the smaller scale projects as well as stadium-sized projects. Our team works with cities to ensure that they are continually creating futures for their communities that are better and bolder than where they are today, whether the NFL is in the neighborhood or not.