Report to Focus on Multi-Billion-Dollar Sports Stadiums and the Promise for Economic Growth
November 21, 2019
Originally Posted On: PR NewsWire
The U.S. Minority Ticketing Group (USMTG), a national group of minority professionals in the entertainment industry, has announced the creation of its Annual Stadium Economic Reciprocity Report (SERR), an annual report card that will educate the general public and communities of color on stadiums in the United States funded by federal, state and local tax dollars.
“Tax-subsidized stadiums impact everyone in communities surrounding them, from cuts in public services, to housing inequity, and employment opportunities,” said Scot X. Esdaile, Executive Director, USMTG. “With billions of dollars in profit per year going to sports franchises, exclusive concert promoters and ticket juggernauts, the U.S. Minority Ticketing Group is concerned about the fare distribution of these funds and the economic impact to the local communities. For too long, small minority owned businesses have been locked out and have not been able to do meaningful business with these huge economic engines – we want to issue a transparent report of how these stadiums benefit the people in close proximity to these venues.”
By gathering demographic data and research on diversity and inclusion for 26 professional teams and stadiums, the report will act as an educational tool to develop community led initiatives to work towards economic and racial justice by holding corporations accountable and implementing creative diversity and inclusion initiatives. USMTG will be working with the NAACP (Connecticut and Texas), the National NAACP Housing Committee, the University of Connecticut and Texas Southern University.
Surveys went out to the 26 teams and stadiums last month, and data will be gathered and analyzed by experts at the UConn School of Business and Texas Southern University. Based on this data, results will be released in August of 2020, with each stadium receiving a letter grade.
“Tax-subsidized stadiums are an all too common phenomena in a majority of cities in the U.S. There is no better time for this report to examine the real effects that these stadiums have on the taxpayers and communities funding them,” said J. Kenyatta Cavil, Professor of Sport Management and Sport Studies at Texas Southern University.
To learn more about The U.S. Minority Ticketing Group (USMTG), visit usmtg.org.
About USMTG: The U.S. Minority Ticketing Group, founded in 2014 by a national group of minority professionals in the entertainment industry, is a 501 C (6) non-profit organization. Our mission is to bring minorities together in unity to utilize our business expertise in a way that allows us to enhance and sustain economic development in our communities while advocating for and creating a more diverse, inclusive and just entertainment industry.