Flutterby™! : stadiums still not profitable

Way back in '99 I linked to an article on how sports stadiums don't economically benefit communities. Via RC3, an interview with the authors of yet another study on how government funding of sports arenas is a bad idea:

On average, professional sports reduces inflation-adjusted income per person by a small but statistically significant amount, roughly $40 per person per year. That figure is for every person in the metropolitan area, not just people who attended games. So professional sports do not form the basis of a viable local economic development program.