Dear Friends,

Please read this excellent report from this past Friday on the financial failure of government-subsidized stadiums in the US.

“Cities across the country are scrambling to figure out how to pay for stadiums, convention centers, and other venues that received taxpayer support. These projects were all pitched as economic development tools. With large gatherings banned in most of the country, they’re now a drain on city revenues that are already being squeezed by the current economic slowdown.”

“These subsidies were a bad deal for taxpayers even in good times. In the midst of a global pandemic, they’re devastating.”