Taxpayers are funding more than half the cost ($1.26 billion) of the Tennessee Titans’ new $2.1 billion stadiumthe biggest public contribution toward a stadium in US history. It’s supposed to be finished in 2027. But not without controversy over whether public money should be paying to lure rich sports teams to town. Lisa Fletcher investigates big costs and questionable returns.

The following is a transcript of a report from “Full Measure with Sharyl Attkisson.”
Watch the video by clicking the link at the end of the page.

This kick sealed the Bears’ win over the Packers, but couldn’t erase their fourth straight losing season.

For a team that hasn’t reached the Super Bowl in 40 years, performance on the field isn’t the only thing drawing criticism.

The Bears have unveiled plans for a shiny new domed stadium on the downtown Chicago lakefront, which would potentially replace Soldier Field, and are asking Chicago taxpayers to pick up more than $2 billion of the $4.75 billion cost.

Team CEO Kevin Warren aims to break ground this year.

Kevin Warren: I feel the momentum is really moving in the right direction.

Former Illinois Governor Pat Quinn is a chief critic.

Former Governor Pat Quinn: Public safety, education, making sure we have good roads and highways. Those are the priorities for people, not another stadium for the Bears franchise. The taxpayers have to come first.

Last year, Quinn was instrumental in putting an informal vote to residents of eight Chicago precincts. It asked voters if they wanted their tax dollars to build stadiums for the Bears and the Chicago White Sox baseball team. Nearly 80 percent said no.

Former Governor Pat Quinn: That’s what referendums are all about. They let everyday people, not just the insiders, the politicians, but people who pay taxes have their voice in whether or not taxpayers should pay for a new stadium.

The Bears say a new stadium will benefit Chicago taxpayers with a yearly boost in tax revenue, economic activity, and new jobs.

Some cities report success. Las Vegas invested $750 million in public funds to build a new stadium for the Raiders. It’s now said to be generating $4.9 million a month in tax revenue. Still, Quinn says the math will never add up.

Lisa Fletcher: So to be clear, taxpayers and their communities don’t earn their money back on these stadiums?

Former Governor Pat Quinn: It’s all make believe. I think the studies that have been made on stadiums that have been constructed find that all the promises are way below what originally was forecast, so I don’t think it’s a good deal at all for the public.

John Breyault: That is money that is going straight into the pockets of billionaires.

John Breyault was a member of Stop the Arena, a Virginia group opposing plans to spend over a billion taxpayer dollars on a new arena in Alexandria to attract Washington D.C. ‘s hockey and basketball teams. He points out that even with the public picking up the tab, wealthy team owners keep profits from tickets, concessions, luxury suites, and naming rights.

Lisa Fletcher: You make it sound like these sports team owners are trying to pull one over on citizens.

John Breyault: That’s exactly what they’re trying to do. What they really want is to get the public to pay for these stadiums, they can then turn around, and sell, and make a profit.

Breaking News: Negotiations to lure the Capitals and Wizards to Northern Virginia have ended.

The deal fell through last year after the Virginia Senate opposed it.

John Breyault: What we think should happen is that if a team owner wants to build a new stadium, that’s great. Build it with their own money.

Since 1990, $30 billion in taxpayer dollars have been used to build more than 50 professional sports stadiums across the U.S., with the NFL getting the lion’s share.

Missouri residents spent $280 million on the Rams’ stadium, and when the team moved back to L.A., they left the public on the hook for debt that ballooned to $1.07 billion with interest.

Hamilton County, Ohio taxpayers are holding the bag for $920 million for an over-budget Bengals stadium. The deal left the county in financial distress, forcing cuts to public services and raising taxes.

Tom Schatz: Like everything else the government spends money on, look at it very closely. Transparency, accountability, long-term economic impact, all make a difference.

Tom Schatz is president of Citizens Against Government Waste in Washington D.C.

Lisa Fletcher: It’s not unusual for governments to incentivize corporations to come into their communities, whether it’s a chip manufacturer or electric battery manufacturer. Is that at all similar to financial incentives that pay for these stadiums?

Tom Schatz: The chances of a manufacturing facility paying for itself is a lot higher than a sports facility because those jobs are full-time, people are working, they’re all paying taxes, and that is not the same for any kind of sports facility.

Back in Chicago, where the Bears ranked last in offense this season, former Governor Quinn says it’s time to play defense when it comes to safeguarding taxpayer dollars.

Lisa Fletcher: Would you think differently if they weren’t 5-12 this year?

Former Governor Pat Quinn: No. Don’t get me wrong, I’ve been a Bears fan from birth, but I don’t believe that the taxpayers should have to pay for the franchise to build yet another stadium so they can make millions and millions of dollars. It’s not fair. It’s time to put our foot down and say enough is enough.

For Full Measure, I’m Lisa Fletcher, in Chicago.

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