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Public financing for professional sports facilities

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Cleveland Browns Stadium during an NFL football game.
Sue Ogrocki
/
AP
Cleveland Browns Stadium during an NFL football game between the Baltimore Ravens and the Cleveland Browns, Sunday, Oct. 1, 2023, in Cleveland.

There are stadiums in America that are really old. Fenway Park and Wrigley Field are more than 100 years old, as is Ohio Stadium. Michigan Stadium is nearly 98 years old.

But these days, pro stadiums and arenas have a life span of about 25 years. Then the owners want new ones, with even fancier scoreboards, luxury suites and entertainment options.

Such stadiums are expensive: the current price tag is $2 billion. Arenas are a bargain in comparison, costing about $1 billion.

And even though the owners of these teams are often billionaires themselves, they want taxpayers to help pay for playgrounds for pro teams.

Of course, the Browns are looking to move their 3-14 record to a new domed stadium in suburban Cleveland. And state lawmakers seem eager to help.

The governor wants to tax sports betting companies and use the money to help the Browns and other teams. The Ohio House wants the state to borrow $600 million to just help the Browns.

The question is, is it worth it? To help us answer that, we welcome Kennesaw State University economics professor J.C. Bradbury. He has looked at stadium financing projects all over the country.

Snollygoster of the week

Vice President JD Vance nearly fumbled the OSU Buckeyes' National Championship Trophy when it separated from its base this week at the White House. Luckily, the sure-handed OSU running back TreVeyon Henderson caught it before it fell.

With 144 carries last year, Henderson did not fumble the ball once. We should note that the wooden stand very nearly landed on Henderson's foot, which could have been bad.

So, for deftly saving JD Vance from even more embarrassment, running back TreVeyon Henderson gets our Snollygoster of the Week award.