Sports & Whatever

Tag: sports economics

  • Who Actually Paid for the New M&T Bank Stadium

    Who Actually Paid for the New M&T Bank Stadium

    The Ravens recently completed a $489 million renovation of M&T Bank Stadium, funded largely by public bonds from a 2022 state law. Team President Sashi Brown thanked Maryland residents and politicians. The Ravens retain all revenue from the stadium, while taxpayers face questions about the project’s returns on their investment.

  • Derby Winners Are Skipping the Preakness. Maryland Is Spending $400 Million on It Anyway.

    Derby Winners Are Skipping the Preakness. Maryland Is Spending $400 Million on It Anyway.

    Cherie DeVaux Racing announced that Golden Tempo will not compete in the Preakness Stakes, continuing a trend of Derby winners opting out due to modern training practices and financial considerations. Maryland’s $400 million investment in Pimlico faces challenges, as the state lacks control over scheduling and racing decisions, with no Triple Crown winners since 2018.

  • Maryland Spent $450 Million. Churchill Downs Bought the Crown Jewel. Moore Wasn’t Invited.

    Maryland Spent $450 Million. Churchill Downs Bought the Crown Jewel. Moore Wasn’t Invited.

    This Saturday, Democratic governors from four states will attend the Kentucky Derby, hosted by Kentucky’s Governor Beshear. Notably absent is Maryland’s Governor Wes Moore, who is kicking off his reelection campaign in Maryland. The situation raises questions about party optics and the financial relationship between Maryland and Churchill Downs.

  • Maryland Owns the Racetrack. Churchill Downs Owns the Race.

    Governor Wes Moore announced Maryland’s acquisition of Laurel Park for $48.5 million, completing the state’s thoroughbred racing infrastructure. However, Churchill Downs purchased the Preakness Stakes trademark for $85 million, leaving Maryland with weakened negotiating power over future licensing and branding, despite its significant financial investment in the racing industry.

  • In Park Heights, the Preakness Has Always Been Nearby. The Question Is Whether It’s Ever Been For Them.

    In Park Heights, the Preakness Has Always Been Nearby. The Question Is Whether It’s Ever Been For Them.

    The Pimlico redevelopment in Park Heights, Maryland, aims to transform the racetrack’s relationship with its distressed community, promising benefits after years of broken promises. Historically, race day has harmed local businesses, leading to skepticism among residents. With a $400 million investment, stakeholders hope to create lasting positive changes, but challenges remain.