Major League Baseball is planning to announce a proposal that would cut the number of minor league teams from 160 to 120 by 2021, and the Lookouts are on the list of teams to be contracted. The thinly veiled motive for this move is to get these teams to upgrade their facilities, and slash minor league payroll. I love baseball and the Lookouts, so I’ll take the bait.
If you polled Chattanoogans on whether they prefer Historic Engel Stadium or the 20-year old AT&T Field, the resounding answer would be Engel. Unfortunately, those days are over and team owners want a shiny new publicly financed stadium to increase the team’s value every quarter century.
Publicly financed stadiums are not so much an investment as they are a boondoggle.
There are few things economists agree on, but one of them is that stadiums don’t make the return on investment. Not to mention, everyday people (like myself) hate handing rich people a taxpayer-funded gift.
That’s why it pains me to say that I’m alright with the city, county and other quasi-public stakeholders working together to build a new stadium for…