Smith ScholarWorks Economics: Faculty Publications Economics Summer 2000 The Economics of Sports Facilities and Their Communities John Siegfried Vanderbilt University Andrew Zimbalist Smith College,
[email protected] Follow this and additional works at: https://scholarworks.smith.edu/eco_facpubs Part of the Economics Commons Recommended Citation Siegfried, John and Zimbalist, Andrew, "The Economics of Sports Facilities and Their Communities" (2000). Economics: Faculty Publications, Smith College, Northampton, MA. https://scholarworks.smith.edu/eco_facpubs/54 This Article has been accepted for inclusion in Economics: Faculty Publications by an authorized administrator of Smith ScholarWorks. For more information, please contact
[email protected] Journal of Economic Perspectives—Volume 14, Number 3—Summer 2000—Pages 95–114 The Economics of Sports Facilities and Their Communities John Siegfried and Andrew Zimbalist orty-six major league stadiums and arenas were built or renovated for teams in the four principal professional U.S. sports leagues between 1990 and 1998. As of the end of 1999, an additional 49 professional sports facilities F 1 were either under construction or in the planning stages. At the turn of the millennium there were a total of 115 teams in the National Hockey League (NHL), the National Basketball Association (NBA), the National Football League (NFL) and Major League Baseball (MLB) combined. In several cases teams share the same facility (for example, the Los Angeles Lakers, Clippers and Kings all play in the new Staples Arena). Thus, by 2005 the vast majority of professional sports teams will play their home games in facilities built after 1990. More than $21.7 billion will be spent on these 95 stadiums and arenas built or planned since 1990.