OT: The Economics of Sports Stadiums and bye-bye to the Oakland A’s

[XXtwindad]

Interesting and relevant read in the NYT today:

https://www.nytimes.com/2023/04/24/s...-playoffs.html

"A year later I flew to Sacramento as the City Council convened for a tense vote on whether the city should pay roughly half the cost, $255 million, for construction of a new downtown arena now known as the Golden 1 Center.

Kings fans showed up in force, as they always do, despite the team having just skidded to its eighth consecutive losing season. They held aloft placards imploring the Council to say yes. Angry critics were also on hand, dead set against spending taxpayer funds on a sports team’s arena.

The Council voted to allocate the money. The Kings stayed put, with the new owner, Vivek Ranadive, promising fans that the team was in it for the long haul. “This is your team, and it is here to stay!” he said.

Nine years later, and after a league-record 16 seasons without being in the playoffs, Sacramento’s team is finally making waves in the N.B.A. postseason. Who knew it would take this long?"

I haven't lived in Sacramento in close to three decades. I have no idea how much of an economic impact the stadium has had on its immediate surroundings. Maybe someone who lives there can weigh in.