In a story posted Sunday 1/17, The Miami Herald stated:
"...economists who study sports put the Super Bowl's net economic value at less than $100 million. And they accuse the NFL of dramatically inflating the Super Bowl's spending power for moments like this, when teams want governments to fund stadium expenses." The paper quotes Victor Matheson, a Holy Cross economics professor who co-authored a 2006 study titled Padding Required: Assessing the Economic Impact of the Super Bowl. The Herald said:
His research shows that the Super Bowl's economic punch likely tops out at around $90 million, though it can dip lower for large tourist destinations like Miami that already enjoy busy winters. His research found that in 1999, South Florida's economy gained $36 million from hosting the Super Bowl.
"Not that you'd turn down $30 or $40 or $50 million for one of these events,'' he added, "but don't tell me it's $400 million.''
Using a formula based on tax and income data, Craig Depken, an economist at the University of North Carolina-Charlotte, estimated that the Super Bowl added about $58 million to Broward and Miami-Dade's economies in 2007.
"It's not nothing. It's not zero,'' he said. "But it's not nearly what the NFL says it is.''
1 week ago