New stadiums aren't about increasing the bottom lines of the localities they're in, they're about increasing the organization/owner's bottom line with more suites, PSLs, renegotiated concessions deals that are more favorable to the organization, tax credits and breaks for building, pieces of the parking revenue, and so on.
No shit.
I cannot put into words just how infuriated I get when I hear about public financing for stadiums and how cities need to "step up" to "keep their teams." It's disgusting that when Peter Magowan presented his plan to privately finance the construction of AT&T Park, it was the first entirely privately financed major stadium in several decades. (Don't get me started on Jerry Jones and his Dallas monstrosity, after Jones held the city hostage for more tax increases and more money in bonds.)
And I'm going to punch the next person who says that building a new stadium creates jobs. It doesn't. It creates
work, a temporary job for construction workers. There are almost no new jobs created by closing one stadium and opening another; at best, it's a minor net increase, and at worst, it's a lateral move, and in any event, they're minimum-wage, shit jobs.
I mean, Christ, Wrigley Field
is a dump. The place is a shithole, even with the renovations, and its existence is artificially limiting the Cubs' revenue streams because of the attendance limits. It's got a lot of charm, and I love seeing games there (even though I haven't gone to the stadium in half a decade), but I'll be the first to say that it's not a good field, anymore. The seating, in particular, is execrable.