The Art of the Steal: How Sports Stadiums Extract Public Money for Private Profit
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The Art of the Steal: How Sports Stadiums Extract Public Money for Private Profit
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About this listen
Sports journalist and author Neil deMause joins Professor Shirin Mollah to unpack the complex world of stadium financing and sports economics. Drawing from nearly 30 years of research, deMause reveals why the gap between what taxpayers want to spend and what teams demand often seems insurmountable. He discusses how new stadiums rarely pay for themselves, despite being marketed as economic goldmines. The conversation covers everything from the San Francisco Giants' privately-funded success story to the Oakland A's controversial move to Las Vegas. deMause explains the tactics teams use to extract public money, including the "art of the steal" playbook that hasn't changed much in decades. They explore how streaming and changing media rights might reshape team finances, why cities keep funding stadiums despite overwhelming evidence they're poor investments, and what role democracy plays in stopping bad deals. The discussion also touches on deMause's personal journey from sports fan to stadium critic, his favorite ballparks that no longer exist, and his vision for what fan-friendly, community-focused stadium development could look like.