The Washington Nationals, formerly known as the Montreal Expos, a team that at one point was taken over by MLB, has hit one of the sweetest deals in pro sports. They are currently looking at naming rights for their new stadium in Washington D.C. and any deal should net the team owners anywhere from $8-$12 million a year. A hefty profit for the owners. While naming rights are a norm for most owners this situation is a little different. The Nationals, according to Sports Illustrated, have built the stadium with D.C picking up nearly 97% of the tab, compared to 60%-70% that most teams get.
D.C was forced into a deal by their former Mayor and have forced the city to use tax payer money for almost all of the cost of the stadium. This is coming in a time where a new study shows urban areas, like D.C., are likely to experience a higher drop out rate than their suburban counter parts, Washington D.C has a 58.8% graduation rate according to the study.
I understand that professional teams have some economic impact (though I would argue a lot less than what team owners state) for the cities in which they reside. But for once I would love to see a city look at what that money could buy. According to SI the stadium is costing about $641 million to build. Do you realize how many books, computers, teachers, etc. that money could buy your students?
While I love sports, I think that a city that graduates only 58% of their students needs to put its money into more important issues. Sports are quickly becoming a subsidized entertainment property knowing very few bounds. Until cities like Washington DC stand up to over-subsidized private groups, which benefit wealthy owners, we are going to see this trend continue.
So Washington D.C. enjoy the shiny new stadium, but think about those kids sitting on the streets when you leave the ballpark. One of those kids could have been the one who cured cancer, found a new theorem, or created the next great symphony, but will never have the chance because the money for their education was squandered on chalk lines and green grass that only a very few will ever get to touch.
3 responses so far ↓
1 Rich // Apr 9, 2008 at 2:32 am
Oh, please. The per-student expenditures in DC schools are among the highest in the country. Those who aspire to cure cancer or play in a symphony have opportunity to do so. Until the social pressures that discourage academic achievement and promote the gangsta lifestyle subside, the graduation rate will remain around 60% no manner how many buckets of money are thrown at the problem.
2 Chris // Apr 9, 2008 at 6:51 am
Thanks firs of all for leaving a comment, I appreciate it.
Do you really think that a city should pony up 97% of a stadium’s cost? Are you saying that there aren’t better options for those public funds? It would make a hell of a lot of sense to invest public money in things that would improve the economy, support education etc and return money back to the community in my opinion.
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[…] Very few people actually take the time out to do the math or look at the figures realistically. I ranted in an earlier post about Washington D.C. building a new stadium and the cost it could have on on other social […]
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