Arguably the best privilege for the ultra wealthy. People focus on their assets and net worth, but in actuality, much of the power comes from the privilege of (often) getting to use other people's money (at least in part) to fund stadiums, buildings, events, etc. Thus being the double whammy. You (as a team owner) have billions of dollars, and yet, you only have to use a fraction of that (if any of it) to fund your ambitions. That's how power (as society and capitalism have engineered it) works.
I live an hour south of US Bank. When the stadium hosted the Super Bowl last year we put up the spare bedroom in our house to rent for one grand a night as a joke. We had hundreds of responses wanting it. So it pays off for some people.
"On average, taxpayers contributes $250 million towards the stadium constructions." Wow.....imagine if that money was spent on public schools and public transportation instead.
Most high school teams dont even win district champs. I have an American Sign Language class with not enough books that happen to be like 10 years old and falling apart! They have no covers and are missing pages!!! They stayed in a storage room for 8 years so they are all gross!! Amd guess what? NACOGDOCHES HIGH SCHOOL just spent almost 1Million dollars on a stupid JumboTron😐😐😐 what kind of shit is that??!! And you wanna tell me" football helps schools" NO THE HELL IT DOESN'T.
For a country that's supposed to be capitalist, America's approach to sports has a remarkable amount of government involvement. It's pretty rare that a local government builds a new stadium from scratch to hand it over to a private sports team, let alone when a perfectly good stadium already exists like in St Louis's case. Even in Italy when a team doesn't like a stadium that the local government has made available to them, they have to go and build another one with their own money. How did American sports get into that mess???
The NFL specifically is a mess. In some cities, building a sports stadium actually does help the economy. For example, baseball has seen several successes of new fields rejuvenating dying city sections like in Denver, Baltimore, and Pittsburgh. Not every one has been a success, but it can be done right.
As a non-American living outside the US, I find it weird that news coverage puts more weight on the half-time performance than the game itself. I know that Maroon 5 performed and that Spongebob was involved, but I have not watched any suggested RUclips video about which team won. I follow CNN, ABC and MSNBC on Facebook, but I haven't read anything about the game.
Well that's because you're following the wrong channels. CNN, ABC, and MSNBC are barred from reporting on the game, since CBS paid hundreds of millions of dollars for broadcasting exclusivity.
A lot of this isn't the NFL'S fault. The politicians in these cities bid for these things so that people vote for them over and over, keeping them in office. The NFL isn't really doing a lot that harms the cities, the cities harm themselves, and the NFL benefits from it. Ask yourself this, if you had the choice between taking government subsidies or no government subsidies, which would you choose?
Cities don't build new stadiums for super bowls, Minneapolis built US Bank because the Metrodome collapsed for example not to host a super bowl, the super bowl is just a perk you might get if you build a new stadium.
Yeah that’s one example but los anglers did. Las Vegas is. Atlanta did. So yeah they are building these massive stadium all of them with our tax dollars. It’s ridiculous
It's ridiculous to think that anybody builds a stadium for the SB. Those are stadiums that were gonna be built anyway and hosting a SB is just a perk that comes with it. And what about the publicity and recognition it brings to the city? It can be very valuable. I dont see no mention of that in the video.
Patrick Carey He did though because he did say to start that the local area gets about 15-100 million, the points brought up were just examples of how some of the things people think boosts the local area actually doesn’t
Hard to find one. The Patriots are the best team ever and Tom Brady will be the best quarterback in history. The Patriots dynasty will be the greatest one of all time forever and the Patriots will come back to win a seventh Super Bowl in the next decade.
I feel like the team with the highest record should host, so it’s in their own city. Would lead to cities being very excited to host. Also means teams will want to improve stadiums more
Wrong. The video makes it seem like the stadiums were built purely for the Super Bowl. The reason they are so expensive is because they want to be visually appealing for the super bowl but they would’ve got built anyway. If the Olympic Committee only allows the Olympics to be played on paces with existing infrastructure like Los Angeles, the issue would be fixed
Correct.In Australia Sydney 2000 olympics is still paying off that event cost $6.6billion. Aust taxpayers left with bill contributing $3billion. Athens 2004 lost $14b = recession. Only Olympics events history made some profit: Beijing 2008 $1b
Great. Taxpayers should not pay for stadiums for private corporations. Period end of story. Next thing Exxon will be asking the government to build them a refinery and an oil rig because it boosts jobs.
The last one that Miami hosted was a month of craziness. The pro bowl and the super bowl were held in the same city... They Claim it was pretty profitable because of the location. Palm beach to key west saw an increase in spending that month, but this make me wonder. I know that it has been said that one of the worst sites is Dallas because the stadium is in an area where there is nothing but strip malls.
This video did not look at the long term costs and benefits, which is very bad for a channel calling itself business insider. If you have to build a stadium, in the short term it is creating jobs, which leads to short term benefits to local shops, hotels etc. You host the super bowl, which again means money is going to local business. You still have the stadium built, which can then be used for pop concerts, which then brings in more revenue past the super bowl. The short term goal might not be there, but you need to look at the long term goal.
Mostly all stadiums that were or would be replaced in NFL cities this past decade already could/do hold large pop/rock concerts. My hometown NFL stadium which is 50 years old held U2, Guns N Roses, One Direction, etc. stadium concerts in the past few years with no issue.
Rich Viola New stadiums are more appealing, especially NFL stadiums. NBA, MLB, and most FIFA stadiums are built with purely function in mind. NFL stadiums are built with from in mind, the outside is super important and the beautiful look makes it more appealing.
probably because pop artists also demand to play rent free and expect local city to fund decorating the arenas/stadiums. When you are rich and in demand, you can basically blackmail the local city to do things your way, or else you threaten not to play or cooperate. Sad...
@@ISMAILdude93 Yeah but with a pop concert though, you have people come from outside of the area which brings in hotel revenue, food revenue, and other shopping spree's while they are there.
Downtown Minneapolis was on fire in February during Super Bowl Week. February in Minneapolis is not a destination location. Thank You NFL for making it happen!
I'm not surprised. It was a perfect opportunity for Philadelphia Eagles fans I tell you. If the Saints won the NFC Championship they would have been already packed in Atlanta.
This is a bit disingenuous...Every one of these stadiums will host multiple Super Bowls. So, even if you're a tiny bit in the red on the 1st one, you'll end up 100's of millions in the black by the 2nd one. And, for the cynical, Phoenix hosted 2 from 08-15 and will host a 3rd in 23. MAJOR PROFITS
Plus the Super Bowl is only hosted in brand new shinny stadiums and climates that aren't "cold". Well Minnesota hosted it in 2018, but it'll be years or never the next time the Super Bowl is held there or any other cold weather climate.
@alfredo. I said “not just” sports are played there. When big concerts like jay and Beyoncé or Taylor Swift come there, the city makes money from that also.
You can't associate the cost of stadiums in the price tag of Super Bowls. They are built for the NFL team. Those teams are plenty enough to turn a profit. Hosting a Super Bowl is just icing on the cake. Also nobody has ever built a stadium just to host a Super Bowl.
One thing you missed out, I'm assuming 10,000's of people travel into these cities to attend events, None of which would have spent a cent in the host city if the super bowl wasn't being hosted there. These numbers seem like bollocks.
Your right,some host big Soccer games when the European teams come over or even Soccer international tournaments like MetLife Hosted the big final between Argentina and Chile,then you have Concerts etc
Cities spend millions to make stadiums but doesn't that create more jobs in the city as they would need workers to Actually build it? Isn't that good for the city?
Most of the money does go to corporations and business owners but they would have to pay the taxes on it. So if a hotel room charges 5 times the normal rate, the state will get taxes that it usually gets and any sales tax. The people mainly making the most money are the broadcast networkers for the commercials and the small businesses that are in the area.
You can’t attribute the cost of a stadium to the expenses of hosting the Super Bowl, the stadium was built already with a primary purpose of hosting the team. The substituion effect also doesn’t make sense unless the team that plays in the host city makes it, youre getting new revenue because of out of town travellers, not just revenue from people who live there.
I love when these “experts” pitch in with their baseless facts and knowledge. If it wasn’t worth hosting a super bowl, no city would actually host it. It’s a business, you make money from a business, if it doesn’t make you money then you don’t get involved. It’s a simple concept
I think a city greatly benefits from hosting a super bowl. I see it as a future investment or a positive community engagement. And local businesses make money!
Bro 30 mill bro if the cheapest ticket this Super Bowl was 6k and there were at least 60k people there then that’s over $300M just form the tickets alone they are receiving and remember some thickest go from 6k to 70k
this is a huge reason why a lot of attention is being directed towards esports. Doesn't require huge up front cost, all it requires is a lan connection. Even Nike jumped on board. Wouldn't be surprised if by 2050 esports are the most watched sports
but it takes a lot of effort into knowing games mechanic, it's very hard to understand if you don't play games, and we know that video games are waste of time, really. very small Cognitive benefit isn't worth the time and labor force wasted playing video games.
@@AlanNguyenMD there is one huge exception to that, rocket League. Even people who have never played the game can watch it and understand what's going on.
Minh Nguyen that's why I'm saying a good 30 years kids our age will be grown adults or grandparents by then. More then capable of understanding the game
Lol according to business insider EVERYTHING is not worth it. For an supposedly informative channel they kinda crappy. And the clickbait titles dont help
Unlikely. People watch the superbowl for exclusively one of two reasons, and almost never both: Either A. They like football or B. The commercials/the social aspect of a superbowl party at someone's house. I really can't imagine, as a person looking to move, anybody choosing to move to a city because of an event hosted at an overly expensive stadium. If anything, tax wary folks would probably stay away.
So... basically NFL is like FIFA for the rest of the world. We know how evil they are, we know we hate them for that, but we just can't seem to stop watching the football. Now I feel closer to Superbowl. Thanks, Business Insider!
I would watch the Super Bowl at a restaurant instead of watching the game at the stadium because the tickets for the Super Bowl are extremely expensive
It’s a business. Their concern is money first and foremost. I’m sure they’re honored to be a host but they wouldn’t care if it ends up losing them money. That would defeat the purpose of hosting the SB.
@@j.pitkin2883 The problem with that is that the location does not work if the city does not pony up the money and resources to support it. If a city won't do that, then it would not be possible to use the location.
@@isaacclark9825 that might even become a condition for a team to be in the league is to accept the NFL'S decision on the potential of their city hosting the Superbowl should no city bid for it. This is all hypothetical because cities will always bid on the game because the public at large is not informed of the bad investment it is to host the game.
Substitution effect... Not a chance. My super bowl ticket last year was $4,000... There is no way in hell I'm spending $4,000 to see the twins and Timberwolves throw away another season with that money instead of super bowl. I would have attended 121 twins games to spend $4,000 on other sporting events...
Totally agree that it's a waste of money. Nothing happened in the week leading to the superbowl but officers from everywhere were on 12hr mandatory shifts during set up.
I call shenanigans I would be interested in the amount of increase purchases of McDonald the week before the super bowl compared to the same time the year before. I would also be interested on how much people who are working the super bowl spend, i know the people that are shuttling the players and players family from the hotel and other events are getting paid a couple hundred thousand dollars. Mercedes-Benz stadium can hold 71000 people. So if each person spends just $100 dollars that is $7,100,000. I guarantee you cannot even find a room for $100. Not to mention the $10 small size candy snack and the $40 beers. Also if 71,000 people spend $4225 dollars that is $300,000,000, funny because the average ticket for a Superbowl is $2500-$3000 that includes no memorabilia or concessions. I call bs on the expert. He also doesn't take the factor that they're going to need more people at McDonald's and those people that now have jobs at McDonald's will go and spend that money in the Atlanta economy
@@glennpittsley1895 hotels and the McDonald's that im talking about are not inside the stadium. The stadium has to pay local state sales tax on the memorabilia the McDonald's the booze sales at 8.9% tax. The money that they spend in the stadium goes to the people that work at the stadium who oddly enough live in Atlanta, and spend their money in Atlanta. The super bowl is one day people are there three to five days before the super bowl starts and they are spending money. They don't sleep at the stadium they don't eat at the stadium except for one day. The lodging tax in Georgia is 15% the average room is $350. Most people are staying a minimum of 3 nights lets do some math. $350 x 3= $1150 Lodging tax 15% x $1150 = $172.50 The Marriott in Atlanta Georgia has 1663 rooms which are all sold out for way more than $350 1663 x $172.50= $286,867.50 Just one hotel's lodging taxes Oh btw "Only three cities in the United States have more hotel rooms than Atlanta. Metro Atlanta's 75,000 hotel rooms place the area fourth in the country behind Las Vegas, Orlando, Fla., and Los Angeles, according to a survey of hotel general managers from PKF Consulting.May 31, 1999" www.bizjournals.com/atlanta/stories/1999/05/31/newscolumn1.html And that was in 1999
@@jdee2095 nice explanation using layman term. Aside from that,the exposure from national and international media about Atlanta. People who never been to Atlanta before might be encouraged to visit the place in the near future.
@@jdee2095 nice explanation using layman term. Aside from that,the exposure from national and international media about Atlanta. People who never been to Atlanta before might be encouraged to visit the place in the near future.
It's not as bad as hosting the Olympics where a city can lose billions. An NFL team will probably play in that stadium for a decade or two and they can use it for other events.
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
Tax payers pay to build the stadiums but get rip-off parking, tickets, food, drinks. Superbowl tickets prices are ridiculously expensive. 💰
Screwed logic isn't it.
Not in Atlanta
@@Sparkiebc the cheapest ticket is 3500 lol
Welcome to Marca
Food and drinks are cheap in Atlanta, probably the only stadium that sells affordable concession
It's crazy how this billion dollar company and the billionaire owners still don't pay for the stadiums to be built. That blows my mind
Arguably the best privilege for the ultra wealthy. People focus on their assets and net worth, but in actuality, much of the power comes from the privilege of (often) getting to use other people's money (at least in part) to fund stadiums, buildings, events, etc. Thus being the double whammy. You (as a team owner) have billions of dollars, and yet, you only have to use a fraction of that (if any of it) to fund your ambitions. That's how power (as society and capitalism have engineered it) works.
Rams owner is paying for his stadium without taxpayer money
Taxpayers pay money for a football game, yet we still haven’t found the cure for cancer. Hmm...
you mean it *bowls* your mind?
@@lonelyvariety sorry dude. Doesn't work like that
I live an hour south of US Bank. When the stadium hosted the Super Bowl last year we put up the spare bedroom in our house to rent for one grand a night as a joke. We had hundreds of responses wanting it. So it pays off for some people.
Were you not worried about sleeping with random strangers in your house
Packer McJabroni well... did you rent it out ?
Lmfao
QB The King I have several firearms
HaloFlashMob yes but only for one grand for four days. Wasn’t that evil lol.
*_Atlanta has left the chat_*
Holy Chicken nuggets ThatPunchKid
Ha
How are you everywhere making the best comments?
Loool
@Labyrinth9000. Screw those whodats! 😂😂You lost!!😂😂😂Stop blaming the refs! 😂😂😂Whodat choked in OT? Dem Aints dat who!😂😂😂😂
"On average, taxpayers contributes $250 million towards the stadium constructions."
Wow.....imagine if that money was spent on public schools and public transportation instead.
Slim Pickens Um high schoolers don’t play in NFL stadiums
Most high school teams dont even win district champs. I have an American Sign Language class with not enough books that happen to be like 10 years old and falling apart! They have no covers and are missing pages!!! They stayed in a storage room for 8 years so they are all gross!! Amd guess what? NACOGDOCHES HIGH SCHOOL just spent almost 1Million dollars on a stupid JumboTron😐😐😐 what kind of shit is that??!! And you wanna tell me" football helps schools" NO THE HELL IT DOESN'T.
@Slim Pickens I'm lookin at you😐
If that's all you have to say then I'm not wasting my time on this pointless arguement that seems to be with a child
Young Baller76809 here in jersey they do.
Dang, well I’m not going to host a Super Bowl. Thank you for clearing this up for me. Saved me millions of dollars.
Who tf are you?
@@nickkyy3383 bro 2 years late
For a country that's supposed to be capitalist, America's approach to sports has a remarkable amount of government involvement. It's pretty rare that a local government builds a new stadium from scratch to hand it over to a private sports team, let alone when a perfectly good stadium already exists like in St Louis's case. Even in Italy when a team doesn't like a stadium that the local government has made available to them, they have to go and build another one with their own money. How did American sports get into that mess???
It's socialism but only for the rich.
The NFL specifically is a mess. In some cities, building a sports stadium actually does help the economy. For example, baseball has seen several successes of new fields rejuvenating dying city sections like in Denver, Baltimore, and Pittsburgh. Not every one has been a success, but it can be done right.
So it's your run of the mill socialism then...
Supertomiman it’s a very nice stadium. How is this a mess?
Sounds like corruption to me....
Like hosting a high school party for rich kids.
Slim Pickens tell your dad to go and by you a new phone I think it was scratched.
True
Corporate welfare at it's worst. Let the billionaires pay for there own stadiums!
Their*
Andrew Gisler in England, football clubs pretty much build their own 🏟
Troy Trey that is a lie, it’s done more or less the same way it’s done here in the us,
XStrawBerryIceX wtf are you talking about? 90% of football 🏟 in England are privately built and owned. The government doesn’t contribute 1 penny.
XStrawBerryIceX England isn’t Spain or Italy, 90% of clubs build their own stadium! The tax payer doesn’t contribute jack shit
I saw an Olympic video just like this
Same
I would think John Oliver
Was it the one that left Brazil in even more debt?
I would think hosting the Olympics can have far worse consequences than the Super Bowl.
FIFA is bad also.. making cities around the world build like 6 stadiums to only use them for 2 months and probably never get used again
Nobody-
Business insider- “ Why living isn’t worth it”
Sebastian Molina lmao
LMAO
A man is literally suing his parents for giving him birth without his consent.
That’s actually really depressing
How
True
It's biased info..... Look into it way more and deeply and you'll get real facts.
@@petebutkus3 you're stupid, the Olympics sent Greece into bankruptcy
@The Hawk I don't think it was.
As a non-American living outside the US, I find it weird that news coverage puts more weight on the half-time performance than the game itself. I know that Maroon 5 performed and that Spongebob was involved, but I have not watched any suggested RUclips video about which team won. I follow CNN, ABC and MSNBC on Facebook, but I haven't read anything about the game.
I heard the game sucked. That may have something to do with it.
Well that's because you're following the wrong channels. CNN, ABC, and MSNBC are barred from reporting on the game, since CBS paid hundreds of millions of dollars for broadcasting exclusivity.
jyashin that’s stupid
FIFA, IOC, and NFL need to get their sheit together
Don't you know how to spell shit?
A lot of this isn't the NFL'S fault. The politicians in these cities bid for these things so that people vote for them over and over, keeping them in office. The NFL isn't really doing a lot that harms the cities, the cities harm themselves, and the NFL benefits from it. Ask yourself this, if you had the choice between taking government subsidies or no government subsidies, which would you choose?
They already have their shit together. The system is designed this way purposefully.
@@cgasucks maybe he does maybe he doesnt, but you still understood what he/she said didnt you?
💎💎💎
Meanwhile they charge 5 million for 30 seconds of airtime😂
Cities don't build new stadiums for super bowls, Minneapolis built US Bank because the Metrodome collapsed for example not to host a super bowl, the super bowl is just a perk you might get if you build a new stadium.
Truth
Exactly my thoughts.
Yeah that’s one example but los anglers did. Las Vegas is. Atlanta did. So yeah they are building these massive stadium all of them with our tax dollars. It’s ridiculous
@@Bucks7542 Las Vegas built it because they are getting a new team...
So true
* NFL has left the chat *
*Arena football has entered the chat*
I'm really glad I found this, really was planning on hosting it next year but you've opened my eyes, thank you Business Insider
All dislikes are from the NFL and their alternate accounts
How original
💎💎💎
It's ridiculous to think that anybody builds a stadium for the SB. Those are stadiums that were gonna be built anyway and hosting a SB is just a perk that comes with it. And what about the publicity and recognition it brings to the city? It can be very valuable. I dont see no mention of that in the video.
@@CemEke_CIO 👍👍👍bravo!
As for stadiums, it helps to have an indoor stadium. Lucas Oil Stadium in Indianapolis has hosted the Final Four multiple times.
Doesnt even talk about local businesses..
Bars and restaurants charge 20 dollar covers superbowl weekend
..
Patrick Carey this should get more likes lol.
Then again, the RUclips comments section ain’t exactly a coven of intellect
Patrick Carey He did though because he did say to start that the local area gets about 15-100 million, the points brought up were just examples of how some of the things people think boosts the local area actually doesn’t
So, in short NFL = EA
Pay us so you can host the Superbowl. In return, we give you a sense of pride and accomplishment.
Finally a Super Bowl the damn patriots weren’t playing in
Hard to find one. The Patriots are the best team ever and Tom Brady will be the best quarterback in history. The Patriots dynasty will be the greatest one of all time forever and the Patriots will come back to win a seventh Super Bowl in the next decade.
Puggy hahahahahsbshsbs😂
Thom gady and the old ass England gatriots
Puggy how many super bowl they cheat I wait!
Ynoel Taveras wait, remember when the broncos cheated 55 times? Huh? LMAO
0:48 that's some saul goodman level fashion
I feel like the team with the highest record should host, so it’s in their own city. Would lead to cities being very excited to host. Also means teams will want to improve stadiums more
I made an extra $1000 dollars working for Uber during the week of Super-bowl 52 in Minneapolis.
Of course, the Super Bowl is becoming the Olympics. Completely not worth it.
Wrong. The video makes it seem like the stadiums were built purely for the Super Bowl. The reason they are so expensive is because they want to be visually appealing for the super bowl but they would’ve got built anyway. If the Olympic Committee only allows the Olympics to be played on paces with existing infrastructure like Los Angeles, the issue would be fixed
Correct.In Australia Sydney 2000 olympics is still paying off that event cost $6.6billion. Aust taxpayers left with bill contributing $3billion.
Athens 2004 lost $14b = recession.
Only Olympics events history made some profit:
Beijing 2008 $1b
💎💎😂
Wrong.
@@bobjeff6899 I swear people like you need to make videos like this. Media is way too one sided.
Indianapolis’s economy skyrocketed because of the Super Bowl
Great. Taxpayers should not pay for stadiums for private corporations. Period end of story. Next thing Exxon will be asking the government to build them a refinery and an oil rig because it boosts jobs.
These people acting like im gonna have a chance of hosting it in my backyard
The Saints Rams game triggered me
@Slim Pickens Rams won because the refs are blind.
Get over it
Rams- like
Patriots- reply
go pats
F
LFG
I liked but we all know that's the Pat's will win...
Dude Random PATRIOTS
Eh, I’m more into esports
Ha GAYYYYYY
I'm into the Olympics
why are you everywhere! Just like justin y
Evariste Galois esports are boring
Nerd!!! 🤓
Who stuffing themselves with buffalo wings, pizza, chips, and celery in Sunday? 🙋🏽♂️
You know it chief
Wata 420 right on 😎
Never understood the celery.
*and bean dip*
What's on Sunday
The last one that Miami hosted was a month of craziness. The pro bowl and the super bowl were held in the same city... They Claim it was pretty profitable because of the location. Palm beach to key west saw an increase in spending that month, but this make me wonder. I know that it has been said that one of the worst sites is Dallas because the stadium is in an area where there is nothing but strip malls.
Glendale AZ sucks and cannot host a superbowl because they have no idea what they are doing. I live here.
Rev Yet they hosted two Super Bowls in the last 11 years
@@johnnyroberts3761 EXACTLY!!! And we lost in profit big time. Phoenix actually profited big time in comparison to what Glendale profited.
I wonder why states or cities ask for a super bowl and even wait years to host it?🤔
Damn I was thinking about hosting the superbowl in my backyard but now I'm having second thoughts
Can't believe y'all had the balls to make this video, well done.
This video did not look at the long term costs and benefits, which is very bad for a channel calling itself business insider. If you have to build a stadium, in the short term it is creating jobs, which leads to short term benefits to local shops, hotels etc. You host the super bowl, which again means money is going to local business. You still have the stadium built, which can then be used for pop concerts, which then brings in more revenue past the super bowl. The short term goal might not be there, but you need to look at the long term goal.
Mostly all stadiums that were or would be replaced in NFL cities this past decade already could/do hold large pop/rock concerts. My hometown NFL stadium which is 50 years old held U2, Guns N Roses, One Direction, etc. stadium concerts in the past few years with no issue.
Rich Viola New stadiums are more appealing, especially NFL stadiums. NBA, MLB, and most FIFA stadiums are built with purely function in mind. NFL stadiums are built with from in mind, the outside is super important and the beautiful look makes it more appealing.
probably because pop artists also demand to play rent free and expect local city to fund decorating the arenas/stadiums. When you are rich and in demand, you can basically blackmail the local city to do things your way, or else you threaten not to play or cooperate. Sad...
@@ISMAILdude93 Yeah but with a pop concert though, you have people come from outside of the area which brings in hotel revenue, food revenue, and other shopping spree's while they are there.
Great point
Downtown Minneapolis was on fire in February during Super Bowl Week. February in Minneapolis is not a destination location. Thank You NFL for making it happen!
I'm not surprised. It was a perfect opportunity for Philadelphia Eagles fans I tell you. If the Saints won the NFC Championship they would have been already packed in Atlanta.
This is a bit disingenuous...Every one of these stadiums will host multiple Super Bowls. So, even if you're a tiny bit in the red on the 1st one, you'll end up 100's of millions in the black by the 2nd one.
And, for the cynical, Phoenix hosted 2 from 08-15 and will host a 3rd in 23.
MAJOR PROFITS
Plus the Super Bowl is only hosted in brand new shinny stadiums and climates that aren't "cold". Well Minnesota hosted it in 2018, but it'll be years or never the next time the Super Bowl is held there or any other cold weather climate.
You don’t mention the insane amount of tourism money that comes in
Right
well that is the 30-40m estimate that was given at the beginning
The reason Glendale lost all that money is because all the events for Super Bowl week were across town in Scottsdale and Tempe.
Isn't stadium built for a lot of seasons of city's team games and not just super bowl?
this assumes the stadium is only built for exactly one superbowl and nothing else.
Can anyone put a monetary value on “fun”? Seriously. I always hear about the actual cost, but what about an estimated value on enjoyment.
Not everyone enjoys sports and I would certainly hate to have a bunch of screaming morons clogging up the transit systems where I live
@shakeeb What about concerts? Not just sports are held at these venues.
C Lewis that’s a lie Beyoncé was playing in all the stadiums
@alfredo. I said “not just” sports are played there. When big concerts like jay and Beyoncé or Taylor Swift come there, the city makes money from that also.
Lol economic fallacy. Your fun is someone else’s work, someone who wants to have fun.
Moral of story: Go to a Super Bowl in a city you don't pay taxes at so you can "be happy" without having to help pay the city's bill.
So it’s basically the Olyimpics all over again
You can't associate the cost of stadiums in the price tag of Super Bowls. They are built for the NFL team. Those teams are plenty enough to turn a profit. Hosting a Super Bowl is just icing on the cake. Also nobody has ever built a stadium just to host a Super Bowl.
One thing you missed out, I'm assuming 10,000's of people travel into these cities to attend events, None of which would have spent a cent in the host city if the super bowl wasn't being hosted there. These numbers seem like bollocks.
You don't need a new stadium for a superbowl....
They are leaving out one huge portion of the equation.
What's the long term investment the super bowl isn't the only thing held at the stadium.
Your right,some host big Soccer games when the European teams come over or even Soccer international tournaments like MetLife Hosted the big final between Argentina and Chile,then you have Concerts etc
Most of those stadiums remain empty during the off season. They may host a couple things, but that's about it.
Super Bowl’s been around since 1967(after the 1966 NFL-AFL Season)
When a fleabag motel charges $1,000 a night because of the Super Bowl, it’s 💩
America the only place where money is more important than the fun that it's people is having
Makes me wonder what it's like to host the CL final
It's not nearly as bad because UCL Finals are played in stadiums which already exist.
Man that is crazy all these useless products. It’s also cool Scotty is giving a good product like the battery checker to one of us.
Is the off voice lady sleeping?
They haven’t thought about this to much. Having a stadium has a long term effect with the city.
It only takes 1% of Shaggy’s power to host the SuperBowl!
The NFL exemption from state, local, and federal taxes is outrageous.
Not anymore they dropped there exemption from federal taxes anyways
Cities spend millions to make stadiums but doesn't that create more jobs in the city as they would need workers to Actually build it? Isn't that good for the city?
Why should taxpayers pay for it? It's circular. Let's just spend all the tax money building things because it creates jobs.
Most of the money does go to corporations and business owners but they would have to pay the taxes on it. So if a hotel room charges 5 times the normal rate, the state will get taxes that it usually gets and any sales tax. The people mainly making the most money are the broadcast networkers for the commercials and the small businesses that are in the area.
You can’t attribute the cost of a stadium to the expenses of hosting the Super Bowl, the stadium was built already with a primary purpose of hosting the team. The substituion effect also doesn’t make sense unless the team that plays in the host city makes it, youre getting new revenue because of out of town travellers, not just revenue from people who live there.
I believe they account for such basic adjustment in the full report, which of course not detailed here.
great reporting
I love when these “experts” pitch in with their baseless facts and knowledge. If it wasn’t worth hosting a super bowl, no city would actually host it. It’s a business, you make money from a business, if it doesn’t make you money then you don’t get involved. It’s a simple concept
Let’s all remember that this whole video is based on one economists estimate.
The NFL is rigged
Why are we paying for the Super Bowl anyway? The NFL has more then enough money to pay for it itself.
Greed. NFL owners can never have enough.
champions league > super egg ball
Alanta paid 700 million for that stadium... But were upset paying 92k for a car for the mayor..
*They use the stadiums for free?*
All 31 stadiums [Giants and Jets share MetLife] are owned by the NFL themselves
@@randombanana3813 Stadiums are owned by the teams or the local government.
I've never spent a single penny to see the season, and the super bowl, I enjoy it from my TV...
I think a city greatly benefits from hosting a super bowl. I see it as a future investment or a positive community engagement. And local businesses make money!
Again, all those things are accounted for in these studies
Bro 30 mill bro if the cheapest ticket this Super Bowl was 6k and there were at least 60k people there then that’s over $300M just form the tickets alone they are receiving and remember some thickest go from 6k to 70k
this is a huge reason why a lot of attention is being directed towards esports. Doesn't require huge up front cost, all it requires is a lan connection. Even Nike jumped on board. Wouldn't be surprised if by 2050 esports are the most watched sports
It already IS
BrainCoolo no it’s not lol
but it takes a lot of effort into knowing games mechanic, it's very hard to understand if you don't play games, and we know that video games are waste of time, really. very small Cognitive benefit isn't worth the time and labor force wasted playing video games.
@@AlanNguyenMD there is one huge exception to that, rocket League. Even people who have never played the game can watch it and understand what's going on.
Minh Nguyen that's why I'm saying a good 30 years kids our age will be grown adults or grandparents by then. More then capable of understanding the game
3:20+ EXCELLENT. This is where the utter dishonesty is exposed.
Lol according to business insider EVERYTHING is not worth it. For an supposedly informative channel they kinda crappy. And the clickbait titles dont help
Maybe it's time to cut the NFL's tax breaks in both local state and federal governments.
A city hosting a Superbowl should increase its publicity worldwide, where future workers and residence may move to.
Nooooooooo!!!!! ATLANTA IS FULL PLEASE DONT MOVE HERE!!!!
Unlikely. People watch the superbowl for exclusively one of two reasons, and almost never both: Either A. They like football or B. The commercials/the social aspect of a superbowl party at someone's house. I really can't imagine, as a person looking to move, anybody choosing to move to a city because of an event hosted at an overly expensive stadium. If anything, tax wary folks would probably stay away.
"worldwide"? You should try learning more about other cultures, and this is coming from a fellow American
Highly doubt it. People looking to move to a new city don’t use a super bowl as a basis.
nobody watches the superbowl outside the US hahaha
how about spending money to local community instead of NFL
Ok I won't host the superbowl
Slim Pickens oof, that's why I won't host the superbowl
Slim Pickens r/woosh
So... basically NFL is like FIFA for the rest of the world.
We know how evil they are, we know we hate them for that, but we just can't seem to stop watching the football.
Now I feel closer to Superbowl. Thanks, Business Insider!
So basically...
The Super Bowl is just as bad as the Olympics for a city financially speaking.
megacide84 nope. It’s like a week of stuff the olympics are just stupid expensive compared to the super bowl.
I would watch the Super Bowl at a restaurant instead of watching the game at the stadium because the tickets for the Super Bowl are extremely expensive
Isn’t so much for profits I’d say. It’d be an honor to host the super bowl
Unity an honor of what?
i actually agree with this
It’s a business. Their concern is money first and foremost. I’m sure they’re honored to be a host but they wouldn’t care if it ends up losing them money. That would defeat the purpose of hosting the SB.
Super bowl maybe one time in your city,concerts happen over and over,many other games concert happen over and over,let every state have a super bowl
Mom an pop places are what get the majority of the SB cash
not really did you even watch the video?
I had a feeling that these super bowl host were getting scammed.
"Why hosting an international gathering for active human is always a bad thing?"
The opening of this video reminded me of Burger King foot lettuce guy and now I want to hear him say "tHe sUpEr BowL"
Game has to be played somewhere. If no one asked to host, the NFL would just force a city into it.
Why not just host it in one of the two teams who has the better record?
@Aidan Tabassian game has to be held somewhere. If no city were to bid on a Superbowl, the NFL would pick the location.
@@j.pitkin2883 The problem with that is that the location does not work if the city does not pony up the money and resources to support it. If a city won't do that, then it would not be possible to use the location.
@@isaacclark9825 the NFL would have to fund it. The Superbowl has to be played somewhere. What would be the solution if no city ever bid for it?
@@isaacclark9825 that might even become a condition for a team to be in the league is to accept the NFL'S decision on the potential of their city hosting the Superbowl should no city bid for it. This is all hypothetical because cities will always bid on the game because the public at large is not informed of the bad investment it is to host the game.
If this wasn't on Sunday's, it might as well as be a national holiday.
Substitution effect... Not a chance. My super bowl ticket last year was $4,000... There is no way in hell I'm spending $4,000 to see the twins and Timberwolves throw away another season with that money instead of super bowl. I would have attended 121 twins games to spend $4,000 on other sporting events...
That was his point fool. You would have spent the money on other things anyway
Totally agree that it's a waste of money. Nothing happened in the week leading to the superbowl but officers from everywhere were on 12hr mandatory shifts during set up.
I call shenanigans
I would be interested in the amount of increase purchases of McDonald the week before the super bowl compared to the same time the year before. I would also be interested on how much people who are working the super bowl spend, i know the people that are shuttling the players and players family from the hotel and other events are getting paid a couple hundred thousand dollars. Mercedes-Benz stadium can hold 71000 people. So if each person spends just $100 dollars that is $7,100,000. I guarantee you cannot even find a room for $100. Not to mention the $10 small size candy snack and the $40 beers. Also if 71,000 people spend $4225 dollars that is $300,000,000, funny because the average ticket for a Superbowl is $2500-$3000 that includes no memorabilia or concessions. I call bs on the expert. He also doesn't take the factor that they're going to need more people at McDonald's and those people that now have jobs at McDonald's will go and spend that money in the Atlanta economy
Yeah and that's honestly low balling it so idk how the so called expert doesnt understand all this
Yeah the part that you guys don't understand is that all that money that they're spending at the stadium isn't going to the city.
@@glennpittsley1895 hotels and the McDonald's that im talking about are not inside the stadium. The stadium has to pay local state sales tax on the memorabilia the McDonald's the booze sales at 8.9% tax. The money that they spend in the stadium goes to the people that work at the stadium who oddly enough live in Atlanta, and spend their money in Atlanta. The super bowl is one day people are there three to five days before the super bowl starts and they are spending money. They don't sleep at the stadium they don't eat at the stadium except for one day. The lodging tax in Georgia is 15% the average room is $350. Most people are staying a minimum of 3 nights lets do some math.
$350 x 3= $1150
Lodging tax 15% x $1150 = $172.50
The Marriott in Atlanta Georgia has 1663 rooms which are all sold out for way more than $350
1663 x $172.50= $286,867.50
Just one hotel's lodging taxes
Oh btw
"Only three cities in the United States have more hotel rooms than Atlanta. Metro Atlanta's 75,000 hotel rooms place the area fourth in the country behind Las Vegas, Orlando, Fla., and Los Angeles, according to a survey of hotel general managers from PKF Consulting.May 31, 1999"
www.bizjournals.com/atlanta/stories/1999/05/31/newscolumn1.html
And that was in 1999
@@jdee2095 nice explanation using layman term. Aside from that,the exposure from national and international media about Atlanta. People who never been to Atlanta before might be encouraged to visit the place in the near future.
@@jdee2095 nice explanation using layman term. Aside from that,the exposure from national and international media about Atlanta. People who never been to Atlanta before might be encouraged to visit the place in the near future.
Oh, i thought you ment at my house...
Hosting Fortnite tournaments is where it's at nowadays.
Does ESPN show that? A lot of people don't even have cable anymore.
lol fortnite tournaments are so boring
Who watches esports torunaments?
It's not as bad as hosting the Olympics where a city can lose billions. An NFL team will probably play in that stadium for a decade or two and they can use it for other events.