Intangible Benefits Of New Stadiums
Intangible benefits are of course benefits that are of a non-monetary nature. Simply put, the intangible benefits of a new stadium vastly outweigh the economic ones. One could argue that the sole purpose of building a new stadium is to appease to the intangible benefits of the city. First and foremost, a new stadium will ensure that the professional sports franchise stays in the city. As shown with the Rams recently, fans take a great pride in supporting teams in their cities and even the thought of losing them creates headaches. Additionally, another intangible benefit of a new stadium is the marketing of the city. This in itself actually could lead to economic benefits. New stadiums create excitement not only for the city that hosts them,
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These are the cities that take great value in their franchises. Although these cities have their own identity outside of sports, their sports teams represent a significant sense of pride. For example, cities like Seattle and Portland show great pride in their sports teams. Losing the Supersonics was extremely damaging to the city’s morale, but they responded by having the strongest supporting group for an MLS franchise with the Sounders. Additionally, intangible benefits include having the communal sense of belonging to the “big leagues”. Cities like New York, Los Angeles, and Chicago receive the majority of attention across America, so new stadiums being built in other cities could generate a sense of belonging with the “big cities.” Having an old stadium looks frowned upon and does not generate the same sort of excitement, as having a brand new stadium. Brand new stadiums feature amenities that the bigger stadiums do not even possess. These new stadiums shed light on these cities and provide a positive image for them. As a result it will attract better players and better teams, which ultimately will result in championships. As stated earlier, these intangible benefits ultimately lead to significant economic benefits. These include: attracting fans from other cities, gaining the right host high profile events like the Super Bowl, and revitalizing the fanbase which ultiatey drives the economics of the area in a positive way. It is hard to measure the intangible benefits of a new stadium, but having civic pride will ultimately stimulate economic benefits as
These are the cities that take great value in their franchises. Although these cities have their own identity outside of sports, their sports teams represent a significant sense of pride. For example, cities like Seattle and Portland show great pride in their sports teams. Losing the Supersonics was extremely damaging to the city’s morale, but they responded by having the strongest supporting group for an MLS franchise with the Sounders. Additionally, intangible benefits include having the communal sense of belonging to the “big leagues”. Cities like New York, Los Angeles, and Chicago receive the majority of attention across America, so new stadiums being built in other cities could generate a sense of belonging with the “big cities.” Having an old stadium looks frowned upon and does not generate the same sort of excitement, as having a brand new stadium. Brand new stadiums feature amenities that the bigger stadiums do not even possess. These new stadiums shed light on these cities and provide a positive image for them. As a result it will attract better players and better teams, which ultimately will result in championships. As stated earlier, these intangible benefits ultimately lead to significant economic benefits. These include: attracting fans from other cities, gaining the right host high profile events like the Super Bowl, and revitalizing the fanbase which ultiatey drives the economics of the area in a positive way. It is hard to measure the intangible benefits of a new stadium, but having civic pride will ultimately stimulate economic benefits as