Facility Financing
The process of determining if facility needs can be met and at what cost.
What is a feasibility study?
When cities compete against each other for the right to host an event.
What is the bidding process?
The increase in spending that leads to increase in the size of the overall economy. Often around 2.
What is the multiplier effect?
The type of expenditures exemplified when a fan rented a car, ate out, and stayed in a hotel to attend the the Olympics in Paris.
What is indirect spending/expenditures?
Buying goods to demonstrate wealth.
What is conspicuous consumption?
The type of facility financing that occurred at Sofi Stadium in Los Angeles.
What is private financing?
The main source of revenue for mega-events.
What are media rights?
This type of economic impact analysis is problematic because it is must predict future spending for an event.
What is an ex-ante analysis?
When Shoei Ohtani makes his money playing for the Los Angeles Dodgers, but lives in Japan during the off-season.
What is leakage?
The unique fees athletes must pay for working in a particular state.
What is a jock tax?
The price for this part of a facility will increase once word leaks that sport organizations are interested in purchasing it.
What is land/site?
Qatar attempted to achieve this economic objective by hosting the World Cup.
What is sportswashing?
The two time periods that economic data is collected in an ex-post economic analysis.
What are before the event and after the event?
When my brother-in-law from Jacksonville buys a ticket to the see to watch the Jaguars host the Falcons.
What is substitution effect?
The best form of guaranteed money.
What is a signing bonus?
The reason developing a sports destination is important for sport organizations.
What is maximizing revenue?
Top mega-events structure their sponsorships in this way to maximize revenue.
What is limited partnerships?
This economic benefit to host cities is hard to measure but was cited as one of the major benefits of sports in Los Angeles.
What is city spirit/psychological benefits?
When people who wanted to vacation in Las Vegas waited for the Formula 1 race in November.
What is time-switching?
The family issue that costs athletes the most money.
What is divorce?
The two main tasks for a facility planning committee.
What are a needs assessment and the development of objectives?
One result from a nation using a sporting event to develop soft power or sportswash.
What is trade, investment, trade, or military support?
This is established by collecting economic data in non-event years or before building a venue.
What is a baseline for the economy in ex-post EIA?
The ideal type of spending that occurs from an event or venue. Would occur a lot at Grand Park in Westfield, IN.
What is benefit spending?
This financial problem is demonstrated when athletes think they won't get injured and will play forever.
What is the alpha male syndrome?