Indianapolis figuring Super Bowl loss at $350,000

[garyd63]

Indianapolis figuring Super Bowl loss at $350,000
Indy Star 4:20 PM, Apr. 9, 2012

The city's sports and convention board today unveiled the first hard numbers totaling the expenses of putting on the Feb. 5 Super Bowl.

The Capital Improvement Board says it spent just over $3 million on items ranging from labor to service contracts to equipment for snow removal -- a precaution that, because of balmy weather, didn't end up being needed.

But reimbursements from the National Football League and its contractors, already mostly in, are expected to offset nearly $2.7 million of that.

That leaves about $350,000 that will be footed by the CIB's budget -- better than the $810,000 loss that was projected based on estimates compiled last summer. . . .

GO HERE FOR FULL STORY

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Isn't it interesting that a one shot athletic event costing boodles of money/time/effort (the accounting so far is very shady and incomplete) can be praised to the stars on the basis of non-measurable factors-"exposure," "good will," "enhanced reputation," and on and on--with nary a peep of criticism. Try to do this for the arts, for education, for libraries, for non-profits concerned with the hungry, the poor, the ill-housed, and you need to bring in an army of very important business accountants who expect to see a Pay Off, Right Now, or the program faces the axe because the effort is summarily judged a non-producing waste of tax payer money. It's all disgustingly ignorant, short-sighted and macho-based crapola.

 

[Eleven]

That is a very incomplete picture of what transpired.
It cost the city of Indianapolis $350k to host the event.... That event generated MILLIONS of dollars that will eventually be re-collected by the state through sales and income taxes. (and the city through the hotels/cab/restaurant tax).

 

[Callmedoc]

That is a very incomplete picture of what transpired.
It cost the city of Indianapolis $350k to host the event.... That event generated MILLIONS of dollars that will eventually be re-collected by the state through sales and income taxes. (and the city through the hotels/cab/restaurant tax).

I feel like all of garys short sighted anti sports (on a sports message board might I add) needs to be moved to one thread...

 

[Sackalot]

GO HERE FOR FULL STORY

________________

Isn't it interesting that a one shot athletic event costing boodles of money/time/effort (the accounting so far is very shady and incomplete) can be praised to the stars on the basis of non-measurable factors-"exposure," "good will," "enhanced reputation," and on and on--with nary a peep of criticism. Try to do this for the arts, for education, for libraries, for non-profits concerned with the hungry, the poor, the ill-housed, and you need to bring in an army of very important business accountants who expect to see a Pay Off, Right Now, or the program faces the axe because the effort is summarily judged a non-producing waste of tax payer money. It's all disgustingly ignorant, short-sighted and macho-based crapola.

I do understand what you are saying...I do. Is it right that the superbowl gets so much and everyone is happy with a "lose" of money to host it, when truly important things don't get the funding they need. I understand your comments...but you are talking far to simplistically. As Eleven pointed out....the SuperBowl isn't about that day or the investment of $350K or $800K or even $2 million or more. It is things like the Super Bowl, the Indy 500, the Final Fours, etc. That are hosted in Indy that help to provide the funding for so many of the things that you mention. Without the Indy 500 and the hundreds of thousands of people that brings to Indy (I realize that many live here and dont' stay in hotels) and the money they spend on rooms, food, beer, etc and all the tax revenue that comes from that event alone, Indy would be in a world of hurt.

 

[Eleven]

Without the Indy 500 and the hundreds of thousands of people that brings to Indy (I realize that many live here and dont' stay in hotels) and the money they spend on rooms, food, beer, etc and all the tax revenue that comes from that event alone, Indy would be in a world of hurt.

Many don't... but try to find a hotel in town while it's going on...
Heck, we sell out hotels here in Terre Haute during the race(s).

 

[blueblazer]

GO HERE FOR FULL STORY

________________

Isn't it interesting that a one shot athletic event costing boodles of money/time/effort (the accounting so far is very shady and incomplete) can be praised to the stars on the basis of non-measurable factors-"exposure," "good will," "enhanced reputation," and on and on--with nary a peep of criticism. Try to do this for the arts, for education, for libraries, for non-profits concerned with the hungry, the poor, the ill-housed, and you need to bring in an army of very important business accountants who expect to see a Pay Off, Right Now, or the program faces the axe because the effort is summarily judged a non-producing waste of tax payer money. It's all disgustingly ignorant, short-sighted and macho-based crapola.

I doubt that Indianapolis lost anything, the good people of this state will somehow be ask to fund the loss.

 

[Sackalot]

Many don't... but try to find a hotel in town while it's going on...
Heck, we sell out hotels here in Terre Haute during the race(s).

Oh I know!

Their was a great documentary done on the sports culture in Indianapolis that I watched on PBS about a month ago. http://www.wfyi.org/NaptownToSupercity.asp It was really great. Now certainly people can disagree with what this doc says about Indy and sports building up the city. But I can tell you this, growing up just a few miles outside Indy and only 35, this town has changed, changed ALOT because of sports. Downtown when I was a kid was TERRIBLE! Now it is a destination, now people want to live there.

 

[garyd63]

Sackalot posts: "Now certainly people can disagree with what this doc says about Indy and sports building up the city. But I can tell you this, growing up just a few miles outside Indy and only 35, this town has changed, changed ALOT because of sports."

Yes people do disagree and the "changed ALOT because of sports" puts a heavy burden of proof on you. City after city has coughed up taxpayer money to pay for a sports franchise, for stadiums, for support hidden deep in budgets. And still the studies of economists and urban planners give low grades to the returns coming out of these "investments." Indy may go against this tide. I haven't seen anything beyond impressionistic accounts. The downtown area by my impressions is a mixed picture--large retailers continue to leave, empty space abounds, hotels blossom (but certainly not only to serve sports events). My problem is with the public financing of these specialized and elitist enterprises. The Colts and the Pacers should pay their own way as they pursue profits.

And then there's this about the recent purchase of the LA Dodgers. Disgusting.

GO HERE

 

[Sackalot]

Sackalot posts: "Now certainly people can disagree with what this doc says about Indy and sports building up the city. But I can tell you this, growing up just a few miles outside Indy and only 35, this town has changed, changed ALOT because of sports."

Yes people do disagree and the "changed ALOT because of sports" puts a heavy burden of proof on you. City after city has coughed up taxpayer money to pay for a sports franchise, for stadiums, for support hidden deep in budgets. And still the studies of economists and urban planners give low grades to the returns coming out of these "investments." Indy may go against this tide. I haven't seen anything beyond impressionistic accounts. The downtown area by my impressions is a mixed picture--large retailers continue to leave, empty space abounds, hotels blossom (but certainly not only to serve sports events). My problem is with the public financing of these specialized and elitist enterprises. The Colts and the Pacers should pay their own way as they pursue profits.

And then there's this about the recent purchase of the LA Dodgers. Disgusting.

GO HERE

I suggest you watch the doc - umentary. It is not "necessarily" about professional sports. It is about the idea that by building Indy up as a sports destination with the Pan Am games, the track, the colts (hoosier dome) and NCAA events...it lead to economic growth, improvements, etc. I could care less about what LA or any other city does at this point...I am talking about Indy.

There is not much vacant space in downtown Indy. Sure some retailers have left, much more because of the economy and lack of spending by middle to upper middle class (or the lack of middle to upper middle class patrons) than anything else. I agree that public financing is, at times not proper when it comes to professional sports. But I am talking about a documentary that brings to light several important points about Indy in the past 30-40 years. And a great deal can be said for what sports do to the "perception" of a city, which is not easily "studied" by those that love to put together studies. Here is what I can tell you, sports changed Indy...plain and simple, love it or leave it. Without the focus on building up Indy through sports (amateur, professional and all sports in between), Indy is still known as NAPTOWN in stead of what it is known as today. It isn't perfect, but it is far, far better than what it was because of sports.