The Magic Stadium

We lucky stiffs in Denver have the chance to vote on whether we want to provide a new football stadium for some very rich people. This whole situation is so fraught with the economics of human behavior I barely know where to begin.

The people supporting this stadium are known as CFANS (Citizens for a New Stadium) and the group opposed to this gambit is called COST (Citizens Opposing The Stadium Tax). COST is not opposed to tax-payer funded stadiums per se. They are opposed to this particular deal where the taxpayers are expected to foot 75% of the total bill.

I will begin with what I think is the biggest fallacy being promoted by CFANS and perhaps the best indicator of human behavior and economics. CFANS is vigorously trying to persuade us the voters that a taxpayer-funded stadium will be economically beneficial to all of us. As their ads state, "we all win" if the new stadium is built.

1) It will create jobs.

2) Fans will spend money in the area.

3) People will come from out of town to attend the games and spend money in our area.

4) And my personal favorite: former kicker David Tredwell said that the Broncos all do oodles of charity work, throughout the city, and if Denver doesn't build a new stadium, and the Broncos leave, than who will be left to do all that charity work?

My answer to these arguments is, if it truly was such a profitable venture, private enterprise would be scratching each other's eyes out to be awarded the opportunity to build a new stadium for Denver. They would not be begging the taxpayers for money. These people are not that altruistic - they're not forcing the taxpayers to fund it, out of the goodness of their hearts, in knowing that the taxpayers will make a bundle. No, if there truly were bundles to be made, private enterprise would already be digging up the lot.

Another untruth to CFANS' contentions is that building a stadium, where people pay to come and watch the game, makes more money for Denver. When I go to the football game, I skip the movies, or the zoo, or the baseball game, etc. The money I would have spent elsewhere in Denver I spent in Denver at the football stadium - therefore no extra money is brought into Denver, it is just moved around. It is a simple transfer of money to Bronco players, the owner, Pat Bowlen and other related Broncomaniacs.

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