The model has changed a little bit more recently, i in part because of a lot of bad publicity that these deals have gotten. It's just expensive for cities to be taking up, at least up front, paying that kind of money. When they give tax exemption for ten or 20 or 30 years, that leads to the same thing, is ther giving up revenue that they would have otherwise gotten. And if they're giving them land for free, same thing again, they're Giving them something of value, which just not cash up front. So that was like the entire history right there, which is incredible.
The Buffalo Bills are set to receive a record-breaking $850 million in public funds to build a new stadium — even though they’re owned by a fracking billionaire. An economist explains whether publicly funded stadiums ever work out in the public’s favor.
This episode was produced by Hady Mawajdeh, engineered by Paul Mounsey, fact-checked by Laura Bullard and Matt Collette, and edited by Sean Rameswaram, who also hosted.
Transcript at vox.com/todayexplained
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