April 1997, Vol 22, No 1
Abstract: Sports facilities have become urban icons. As cities have embraced these buildings and the teams that operate within them, they have generally ignored several basic economic and financial issues germane to establishing sound public policy. Given their tremendous cost and the increasing demand for limited resources, it becomes imperative that those acting as advocates for professional sports recognize both the positive and negative consequences of securing a franchise. This article provides some perspective on such issues and identifies several key areas where policy decisions must be made to assure that the benefits are maximized.