Author

Adam Davidson

Document Type

Honors Capstone Project

Date of Submission

Spring 5-1-2011

Capstone Advisor

Professor Donald Cardarelli

Honors Reader

Professor Kristen Byron

Capstone Major

Finance

Capstone College

Management

Audio/Visual Component

no

Capstone Prize Winner

no

Won Capstone Funding

yes

Honors Categories

Professional

Subject Categories

Corporate Finance | Finance and Financial Management

Abstract

The following paper examines the economic impact that Major League Baseball stadiums have on their surrounding developments and the funding methods used to build those stadiums. It includes a comparison of four examples: Oriole Park at Camden Yards, Busch Stadium, AT&T Park, and Fenway Park. The paper also takes both a qualitative and quantitative analysis of the results promised prior to construction and the various impact reports completed after the stadiums have been completed. The paper analyzes the use of public money for private use and the impact that the stadiums have on new sports centered developments as well as the impact the stadiums have on already existing developments. The various methods used to raise capital for new baseball stadiums are also explored, including public funding which places burden on taxpayer, despite their lack of support. Baseball stadiums are often proposed as a way to bring new revenues to a municipality; however, there is little consensus that the investment is worth the cost. Furthermore, neither the teams nor the municipalities seem to do comprehensive studies to track the impact after the stadium has been completed. This paper seeks to answer the question: What is the economic impact of Major League Baseball stadiums on their surrounding development and are the stadiums an appropriate use of taxpayer money?

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.

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