Category Archives: Stadium Financing

Richard Sherman’s Complains About The Stadium Financing

Shying away from speaking his mind is one of Richard Sherman’s trait. Whenever he feels an issue is important, Sherman makes his feelings known in an articulate way.
The latest event to attract Sherman’s interest is stadium fencing. At the ESPN 710, Sherman said that if elected president, he would correct the stadium financing to get the country out of debt ThinkProgress.
To Sherman, it is wrong to spend billions of taxpayers’ money to finance stadium but make the billionaires who benefit directly from the stadium pay for them. This way, Sherman believes he would get the country out of the deficit. The stadium news has been on the NFL news lately. Recently, Commissioner Roger Goodell said that the Bills must remain with other NFL stadium.

Sherman claims have gained support from stakeholders who raised their voices of concerns to the matter of the Bills. Terry Pegula, for instance, is concerned with what is to be done to make the bills remain as they currently are on a favorable basis per ESPN. The objective and the commitment of the stadia management should be to check bills with the aim of making it not rise or not eat into taxpayer’s money. Although Sherman appreciates the importance of stadium to team competition, he feels that funding the stadium from the taxpayers’ funds is unjust, and that should be stopped. Sherman needs the already existing facilities to remain the way they are to cut cost and offer competitive environment throughout NFL.
Typically, in such a situation, the stadium commissioners leave the responsibility of financing the stadium to the municipality and letting the billionaire owner foot a mere 30% of the bill. Sherman sees this as an anomaly in the public financial system since many case studies have shown that this kind of practice hurts the communities which are forced to fund the bills. Contradicting what owners and another public believe in as the advantage to the communities such as short-term benefits of construction jobs and the civic pride, many researchers indicates that cost associated with the building of the stadium outweighs the benefits gained.
If elected president (though the possibility of Sherman elected president is slim) could Sherman get the tax benefits from stadium building entitlement? Only time will tell.