Wholely agree. The city funds the stadium, the owner keeps all profits derived from the stadium (food sales, etc), and the owner keeps the revenue derived from the naming rights. The mayor and city government pushes it on the people because they get to go sit in the nice new box seats and go to all the opening ceremonies, meet the players, etc.
When the people reject the initiative the govenment keeps putting on the ballot and finding creative ways to funding it (such as a 20% tax on hotels)
What really burns me is that the recent wave of stadiums are built to replace stadiums that are no older than 30 years old. The real driver is the old stadiums don't have all corporate boxes. Owners can sell the corporate boxes... and the city gets nothing.
I like capitalism but I dislike
crony capitalism.
Whew, this was a troll post! It sure worked.....