Tags Taxes and SpendingYesterday the NFL granted Mark Davis his request to move the Raiders from Oakland to Las Vegas. The move creates multiple losers: Las Vegas hotel customers who will see room taxes rise to pay for the 0 million in subsidies for the new stadium, the city of Oakland who still carries debt from the Raiders old venue, and the infamous fans that made up the Raiders’ iconic “Black Hole” who are losing their football team just after witnessing their first playoff performance in almost 15 years.Beyond the blatant crony capitalism of government-financed stadiums, there are many reasons to doubt the wisdom of the team’s decision. After all, unlike the Rams and Chargers move to Los Angeles, Las Vegas has no history of supporting professional football. The most significant attempt, the Las Vegas Outlaws of the XFL, only averaged 22,619 fans, ranking 5th out of the league’s 8 teams. Other attempts, including multiple Arena League teams and the short lived UFL, were financial flops. Of course, none of these products have the power of the National Football League, so perhaps this time will be different.At league meetings, a key part to selling relocation was the idea that fans of other teams would travel to Las Vegas to enjoy the city’s attractions along with the game.
Tho Bishop considers the following as important:
This could be interesting, too:
Tyler Durden writes Gold Best Post-Powell; Stocks, Yuan Bouncing After China Intervenes
Tyler Durden writes Wall Street Reacts To Trade Wars
Tyler Durden writes “It Sucks” – Senate Passes .3 Trillion Omnibus Spending Bill