Public Funding for Sports Stadiums Just Doesn’t Pay off for Taxpayers

Chicago and the state should be wary of subsidizing new White Sox or Bears stadiums for wealthy owners, a taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. policy analyst writes.

While Chicago White Sox players are focused on preparing for next season, the team’s management and Chicago’s government are focused on an even bigger issue: the future of Guaranteed Rate Field. The White Sox are considering asking for taxpayer money to either renovate or build a new stadium.

Mayor Brandon Johnson, who has expressed interest in keeping the team in the city, suggested any stadium deal would be a public benefit, stating that stadium projects serve as economic drivers for local communities. This is a common refrain whenever sports teams push for public subsidies. Johnson is also supporting the Bears’ proposal for a new lakefront stadium with public subsidies.

However, the long-term value of these projects to the broader public remains highly debatable.