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| Name | Why Do Cities Spend Millions To Host Sporting Events? |
| Video Uploader | Video From Bold TV |
| Upload Date | This Video Uploaded At 03-05-2022 12:00:10 |
| Video Discription | Why do cities bidding millions of dollars to host sporting events? Check out the video to learn why! Welcome back to Bold TV with Samuel Bloomquist. Be sure to like, comment, and subscribe to Bold TV for all things Bold. When a significant sporting event takes place in the area, the local economy booms. The money generated by major events such as the Super Bowl, NBA All-Star Weekend, or the NFL Draft brings an influx of new money, which is why communities compete for millions of dollars to host big events. According to the Atlanta Journal Constitution, Atlanta spent $46 million for the right to host Super Bowl 53 in 2019. However, it was well worth it, since it is estimated that the city made ten times as much as they paid once the event was completed. Cities, on the other hand, take full advantage of the chance. According to a report by The Street, the average hotel rate increased by 300 percent during Super Bowl 56 in Los Angeles, while airlines charged over $800 per ticket. That's why, year after year, cities with significant sports teams build bigger and better venues in the hopes of hosting these events, and now more events are taking place. The National Football League (NFL) allowed towns to begin bidding on who will host the draft in 2015, which is when teams choose new players from the rookie class. Having more events also gives smaller cities a chance to cash in. According to Cleveland City Hall, the 2019 NFL Draft brought in an estimated $42 million in revenue to the city. The draft is one night in other leagues, such as the National Basketball Association or the National Hockey League. They sell tickets and fans attend, but it isn't as big as the NFL has made it out to be. So what do you think? Should more sports leagues give cities the opportunity to host major events? Let us know in the comments below. Make sure to subscribe to Bold TV, and follow us as we keep you up to date on all the latest news. Subscribe to BOLD TV: https://rb.gy/rotbrq Check out David Grasso’s podcast, Follow The Profit here: https://apple.co/39l8BHp Are you ready to be BOLD? Check out our favorite articles: https://bit.ly/39EFAaf https://bit.ly/3idFY41 https://bit.ly/3i800wD https://bit.ly/39K5zwV https://bit.ly/3CRuf36 SAY HI ON SOCIAL: Instagram, Twitter, and Facebook: @boldtv LinkedIn: https://www.linkedin.com/company/bold... Website: https://boldtv.com/ |
| Category | Science & Technology |
| Tags | BoldTV | samuel bloomquist | boldtv | bold tv | sport | sports | atlanta journal constitution | ajc | atlanta | super bowl | nfl | nba all-star weekend | nba | nba all star | nfl draft | 2022 nfl draft | nfl draft 2022 | 2022 nfl draft prospects | local economy booms | economy | sport economy booms | sports economy booms | right to host | right to host super bowl | sporting events | super bowl 56 in los angeles | sports teams | nhl | hosting sports events | hosting sports | paying to host | cities paying |
