So, are arenas all chasing the same events to generate the same money, or is there still growth left in the business? And does the money that consumers spend on events at big arenas mean that they spend less at other venues–theaters, nightclubs, etc.? In other words, is it a win-win proposition, or do arena events just take a slice of the economic pie at the expense of other forms of entertainment?

I have seen a study that concludes that pro sports teams do not bring significant economic benefits to the cities that support them. It is more a quality-of-life issue than one of pure economics. If a city wants big-time pro sports, that’s fine, but the citizens should not expect that an economic boom will accompany the team into town.

This race to keep up reminds me of the old trick by clothing manufactures, that kept moving thier business every time someone wanted a raise of a nickle an hour. Finally they moved out of the Country, because they could not milk this Country for any more. The same thing willl happen to Sports teams, etc. Not in my lifetime, maybe in yours, but it will happen, unless, the taxpayer gets wise and sick of being held up by hotel and restaurant owners wanting the taxpayer to foot the bill for their profits.