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Y-Hat posted:Wasn't Allianz Arena in Munich created with public funds approved by a voter referendum? I seem to remember reading that on UEFA's site when Munich hosted the Champions League final. The stadium itself was paid for by a joint venture of its two occupants, However, stadiums are useless without infrastructure improvements and area development, and the costs for those always end up being borne by the public. In Munich, the costs were expected to be so large (they ended up in excess of 200 million euro) that the city government sought approval from the voters. Of course, this was effectively a kind of state aid (no infrastructure = no stadium), and cities all over Europe have found all sorts of ways to test the boundaries of EU state aid rules. In the Netherlands for instance, the city of Eindhoven bought the land under the stadium and training complex from the PSV football club to supply it with cash, and got away with it because they did so at market value, even though there was absolutely no economically sensible reason for the city to own the ground but not the stadium on the ground. Sometimes the cities own the stadiums themselves and accept reduced rents or payment delays if clubs are in financial difficulties (my local club wouldn't have survived without the city's forbearance - it loaned the club money to finance the stadium and now guarantees a large part of its debt), or they buy the stadiums outright. On the other hand, the city of Madrid was found to be in violation of state aid rules for a land swap deal with Real Madrid where it paid the club far above market value for its grounds. So to the OP: European sports teams (at least in football, and who cares about anything else?) don't use relocation to get money because they can usually already count on getting public money when they need it, within the flexible limits set by the EU. And beyond that, most teams are so tied to their local origins that they wouldn't be able to relocate, if just for their names. Look at the league tables for any European football league and you'll see that almost all clubs will have the name of their city or region in their name. Although there are exceptions (the Red Bull company seems to be trying to create franchises, but everybody hates them), mostly you can't just transplant AS Roma to Milan, SC Freiburg to Kiel, Lille OSC to Clermont-Ferrand or FC Twente to Limburg.
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Sep 26, 2016 11:43
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| # ¿ May 15, 2024 23:37 |
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