A number of media outlets continue to report on the
acceleration of new stadiums built around the country and their
effect on local economies. In this week's BARRON'S cover story,
Jonathan Laing uses a chart of recently constructed facilities to
illustrate that in the '90's alone, 30 pro sports facilities have
been built in the U.S. at a total cost of over $4B. Laing notes
the "trend shows no signs of stopping," and cites a Fitch
Investors Services report which predicts that over the next 5 to
7 years, 40 more major league teams are "likely to get new homes"
-- at a cost of $7B. Laing: "Nonetheless, new stadium projects
seem to have a dynamic that defies all considerations of economic
prudence and taxpayer unrest. For when all else fails, public
officials invariably justify their reflexive resort to the public
purse by prattling on about pro sports' positive impact on civic
pride and quality of life" (BARRON'S, 8/19 issue). The current
INSIDE SPORTS examines how the lack of shared stadium revenue in
the NFL is effecting the league as a whole. Also through the use
of charts and graphs, Steve Hubbard concludes the unshared money
"fuels free agency, tips the league's competitive balance, and
drives teams to abandon their homes" (INSIDE SPORTS, 10/96
issue). NEWSDAY continues its examination of the "building boom"
in sports, as John Riley reports on the city of Cleveland and the
financing involved in the construction of Jacobs Field and Gund
Arena (NEWSDAY, 8/22).
