For anyone running a professional sports league, this sure sounds like a good reason to take way longer than necessary to help the nation’s second biggest market reclaim a team (or two).
The observation comes courtesy of brand new Forbes contributors Henry DeVries and Tom Searcy. DeVries is assistant dean of continuing education at UCSD ; Searcy, a sales strategy expert based in Indianapolis. Together, they have also co-authored the upcoming book How to Close a Deal Like Warren Buffett: Lessons from the World’s Greatest Dealmaker. They write:
Since the NFL made an end run out of Southern California, 28 of the league’s 32 franchises have built new stadiums or renovated old ones at a total cost of $10 billion. Taxpayers covered $6 billion of that total… The threat of moving a franchise has gotten taxpayers to pay 60 percent of the tab for new and renovated stadiums in the last 18 years.