Regular readers of Urban Review will note that I am not a big sports fan. In fact, I have complained about the large crowds of people on game days — they rush in to the venue (Busch Stadium, Jones Dome, Scottrade Center) before the game and then rush out afterwards. Sure, some hang out before and after and spend money but the bulk do not. I was also not so happy about the process we went through with the Cardinals over funding of the new stadium. I was, however, reasonably pleased with the final stadium (read my review).
So here we are with the Cardinals holding out their hands, asking the city for more money to build out their vision of Ballpark Village (I’ll address the RFT’s version of Ballpark Village in a separate post). Last night the Cardinals handily won the first game of the 2006 World Series. Game two, played in Detroit just like last night’s game, just started. As much as I hate to admit it, I too am getting caught up in the excitement of the World Series. There, I said it.
Games three & four will be played here in St. Louis at the new Busch Stadium (Tuesday & Wednesday, 8pm). Game five, if necessary, will also be in St. Louis (Thursday). Should they be required, games six and seven will be back in Detroit. While some would like the Cardinals to shut out the Detroit Tigers by winning the first four games I’d rather see a fifth game be played. Why? Money:
St. Louis Regional Chamber & Growth Association (RCGA) Chief Economist Bryan Bezold estimates that the total economic impact of each home World Series game will be approximately $4.5 million; $2.4 million of this total will be direct spending in and around Busch Stadium, and $2.1 million of it will be in indirect spending, as those dollars circulate throughout the region.
This additional World Series economic impact comes on top of the $241 million impact of the Cardinals inaugural regular season and the $3.1 million per game economic impact from the previous rounds of playoffs, at the new Busch Stadium.
So yes, I’d gladly trade off the Tigers winning a single game so that we can have three games played in St. Louis rather than just two, we need the extra $4.5 million in the economy from game five. Of course, I’d rather the St. Louis Cardinals win the World Series, it would be a perfect conclusion to the first season in the new stadium. The added attention will only help the local economy.
I also think a World Series win for the Cardinals would go a long way toward getting the wealthy team owners the public welfare they are seeking for the new Ballpark Village development on the site of the old stadium. But we shouldn’t get too carried away. The World Series will bring in less than $14 million total, much of that direct spending going to the Cardinals, yet they are seeking hundreds of millions in subsidies.
However, If they win the World Series this year I say we give them the $600 million or so they are seeking. Sure, why not. But, for each year they do not go to the World Series we reduce the subsidy by $100 million. So, if they were to keep winning the World Series it would be our pleasure to help out. If they start losing games and not winning the World Series we simply start taking back the money. This, of course, could be modified with adjustments for overall regular season record, advancement in the playoffs and making it to the World Series. So, making it to the World Series would help them keep more of the subsidy than not evening advancing to the playoffs. Incentives should be tied to performance.
Play ball.
UPDATE 10/23/06 8am — Looks like we”ll be having a game five in St. Louis. The fun starts Tuesday at 8pm.