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The Effect of Sports Franchises on Property Values: The Role of Owners versus Renters

Katherine Kiel (), Victor Matheson () and Christopher Sullivan
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Christopher Sullivan: Boston College

No 1007, Working Papers from International Association of Sports Economists, North American Association of Sports Economists

Abstract: This paper estimates the public benefits to homeowners in cities with NFL franchises by examining housing prices rather than housing rents. In contrast to Carlino and Coulson (2004) we find that the presence of an NFL franchise has no effect on housing prices in a city. Furthermore, we also test whether the presence and size of the subsidy to the team affects values and find that higher subsidies for NFL stadium construction lead to lower house prices. This suggests that the benefits that homeowners receive from the presence of a team are negated by the increased tax burden due to the subsidies paid to the franchises.

Keywords: impact analysis; stadiums; football; mega-event; tourism (search for similar items in EconPapers)
JEL-codes: L83 O18 R53 (search for similar items in EconPapers)
Date: 2010-09
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