Blanco says discussions go on with Saints owner

WhoDat · 06-03-2004, 02:27 PM

How about if a new stadium guaranteed a couple of Super Bowls in the up and coming years ???

The problem is that Benson wants a single-use stadium. He wants open-air, grass... he wants a football stadium. Now, other than the Saints, Tulane, and the High School State Championships - what are you going to use that stadium for?

Study after study after study has come out and shown that multi-use stadiums like the Superdome are the only ones to make good on the taxpayers investments. A 450 million dollar stadium costs that money right now.

Two Super Bowls have about $700 million of ECONOMIC IMPACT. That means probably only $100 million or so in direct taxes paid back to the state. Further - $450 mil now is worth more than $450,000 in five or ten years.

Actually, I just did the calculation... here\'s why single use stadiums don\'t work:

If the Saints pay roughly $22 million in taxes annually, and we assume a 3.5% inflation rate (historically very low), it will take the Saints 36.5 years to repay the $450 million that it costs the state to build a new stadium. Don\'t forget, that 36.5 years doesn\'t consider the costs of operating the stadium, repairs, improvements, etc.

This is why stadiums have to be mulitpurpose. The Dome can make money 365 days a year. Any stadium new or old should be that way in NO. That\'s my opinion anyway.

06-03-2004, 02:27 PM	#5
WhoDat 5000 POSTS! + Join Date: Sep 2002 Posts: 5,631	Blanco says discussions go on with Saints owner How about if a new stadium guaranteed a couple of Super Bowls in the up and coming years ??? The problem is that Benson wants a single-use stadium. He wants open-air, grass... he wants a football stadium. Now, other than the Saints, Tulane, and the High School State Championships - what are you going to use that stadium for? Study after study after study has come out and shown that multi-use stadiums like the Superdome are the only ones to make good on the taxpayers investments. A 450 million dollar stadium costs that money right now. Two Super Bowls have about $700 million of ECONOMIC IMPACT. That means probably only $100 million or so in direct taxes paid back to the state. Further - $450 mil now is worth more than $450,000 in five or ten years. Actually, I just did the calculation... here\'s why single use stadiums don\'t work: If the Saints pay roughly $22 million in taxes annually, and we assume a 3.5% inflation rate (historically very low), it will take the Saints 36.5 years to repay the $450 million that it costs the state to build a new stadium. Don\'t forget, that 36.5 years doesn\'t consider the costs of operating the stadium, repairs, improvements, etc. This is why stadiums have to be mulitpurpose. The Dome can make money 365 days a year. Any stadium new or old should be that way in NO. That\'s my opinion anyway.
WhoDat 5000 POSTS! + Join Date: Sep 2002 Posts: 5,631	\"Excuses, excuses, excuses. ThatÃ¢Â€Â™s all anyone ever makes for the New Orleans SaintsÃ¢Â€Â™ organization.\" - Eric Narcisse \"Being a Saints fan is almost like being addicted to crack,\" he said.[i]\"You know you should stop, but you just can\'t.\"