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- Title
LEVELING THE PLAYING FIELD: PUBLICLY FINANCED PROFESSIONAL SPORTS FACILITIES.
- Authors
McClurg, Daniel
- Abstract
As the value of professional sports franchises has exploded, owners have sought new and better stadiums to accommodate and attract fans. This multibillion-dollar industry regularly shifts the burden of paying for billiondollar stadiums onto taxpayers. Given team mobility and the limited number of franchises, teams wield great leverage over state and local governments and use this leverage to extort public aid. As recently seen in Georgia, state constitutional challenges to public financing plans have been unsuccessful due to excessive judicial deference. At the federal level, Congress has failed to close the Internal Revenue Code's loophole that encourages governments to issue and service the debt on tax-exempt bonds, despite widespread bipartisan support. This Comment examines and criticizes the use of public funds to finance professional sports facilities and argues that federal legislation is the only viable solution.
- Subjects
PROFESSIONAL sports; SPORTS franchises; SPORTS spectators; UNITED States. Internal Revenue Code; TAX-exempt bonds (Finance); INVESTMENT of public funds
- Publication
Wake Forest Law Review, 2018, Vol 53, Issue 1, p233
- ISSN
0043-003X
- Publication type
Article