Arena Funding and Taxpayer Subsidies
San Antonio taxpayers paid the entire $258 million (in 2006 dollars) cost of construction for the Alamodome which was completed in 1993. In 1999 a referendum was placed on the ballot for a second arena. This ballot measure passed. Taxpayers contributed $175 million, while the Spurs added $28.5 million, to the SBC Center (now the AT&T Center). In 2011 the Spurs were ranked the 9th most valuable NBA franchise, worth an estimated $404 million .
Read more about this topic: Peter Holt
Famous quotes containing the words arena and/or taxpayer:
“This is a Senate of equals, of men of individual honor and personal character, and of absolute independence. We know no masters, we acknowledge no dictators. This is a hall for mutual consultation and discussion; not an arena for the exhibition of champions.”
—Daniel Webster (1782–1852)
“[The Republicans] offer ... a detailed agenda for national renewal.... [On] reducing illegitimacy ... the state will use ... funds for programs to reduce out-of-wedlock pregnancies, to promote adoption, to establish and operate children’s group homes, to establish and operate residential group homes for unwed mothers, or for any purpose the state deems appropriate. None of the taxpayer funds may be used for abortion services or abortion counseling.”
—Newt Gingrich (b. 1943)