Non-Ownership Thread: Who Cares Edition
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02-14-2013, 02:03 PM
Join Date: Dec 2002
Originally Posted by
I too would love to know the amounts in and out for that region as a whole.
It's impossible to calculate. A large portion of value that a sports team brings to the table is intangible. The facility and the team provide social capital, which is not something you can calculate. Put another way; how can you calculate how many job offers are passed up because the hockey team is gone? You can't. I don't think anyone will make such a decision based on the Coyotes alone, but the availability of entertainment and nightlife in a city is a
factor in corporate recruiting. It's just one example of how a sports team gives back without any money changing hands.
Phoenix went from backwater attraction to the main stage largely due to acquiring a team in all four major sports. Glendale has certainly upped its profile by having the Cardinals, Coyotes and Westgate. You can sit there and stare at cash flow statements all you want, but the benefits will not be immediate or always show up in the form of raw revenue. Building sports facilities is not unlike building a museum or a library. Those institutions have a value to the community beyond just the nonexistent revenue they generate.
The previous council understood this, though they handed over close to $50 million without getting much in return. So there has to be a happy medium there.
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