TPA Releases New Report on NFL Stadium Finances
Washington, D.C. - Today, the Taxpayers Protection Alliance (TPA) released a new report, “Sacking Taxpayers: How NFL Stadium Subsidies Waste Money and Fall Short on Their Promises of Economic Development” detailing the public financing deals for NFL stadiums across the country. The report examines the economic impact of taxpayer-financed NFL stadiums on the people who pay the taxes that fund the construction of those very stadiums. Since 1995, a staggering 29 of the 31 stadiums that house NFL teams received public subsidies for construction, renovation or both. Over the last twenty years, taxpayers have been forced to spend nearly $7 billion subsidizing NFL stadium construction and renovation projects.
“Americans love watching the NFL and football fans love going see their team play each week at stadiums across the country,” said David Williams, TPA President. “Unfortunately, beneath all of the glitz and glamour, these venues are nothing more than monuments to corporate welfare and taxpayer handouts. These stadiums have been built on the backs of taxpayers who had no or little say in the matter and in many cases have benefitted little or not at all.”
The report comes as the NFL prepares to open its 2015 season on Thursday night September 10 as the Pittsburgh Steelers visit the defending Super Bowl Champion New England Patriots. The game will be played in Gillette Stadium, which was built using $72 million of taxpayers’ hard-earned money.