Public Policy and Funding New York's New Sports Venues

Document Type

Peer-Reviewed Article

Publication Date

2012

Abstract

Purpose - The purpose of this article is to examine selected public policy and funding issues of six New York Metropolitan Area sport venues and to discuss their implications for the future of sport venue construction. Design/methodology/approach - The design of this paper is a descriptive case study, which is appropriate when the question to be answered is how or why, when there is no necessary control of behavioral events, and when the study is focused on contemporary events. A systematic review of public documents and available research related to the recent development and funding of selected sport venues was conducted. In addition, a critical appraisal and financial analysis was performed on selected data collected from a variety of proprietary facility reports and public documents. Findings - Based on a systematic examination of public documents and available research it was determined that a complex mix of local, regional, and state politics has impacted significantly the dynamics of professional sport venue development in the New York Metropolitan Area. It is also apparent that there has been a significant lack of transparency with respect to public policy. In addition, it appears that sport venue development in the entire US will experience a trend toward integration with retail, commercial, and residential real estate development that appears to be a result of political pressure and the need to rapidly recoup investment costs associated with sport venue construction. Research limitations/implications - Because this is a descriptive case study, the findings, etc., are limited to those specific venues and public policy issues that were selected for examination. Practical implications - This case study should provide educators and practitioners with insight into the complexity of mission critical decisions that are involved in the development and funding of sport venues. It also should provide insight into the political process related to sport venue construction and the importance of transparency in communicating with the public. Social implications - This case study may provide educators and practitioners with insight into the relationship among public policy, venue financing, and selected social issues. Originality/value - This case study provides original insight into the key elements of funding sport venues in the New York Metropolitan Area. It will provide educators and practitioners with a frame of reference for further examination of the development of sport venues worldwide.

DOI

10.1108/20426781211261548

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