No Matter How Much Money San Francisco Makes on the Super Bowl, We Will Squander Millions
Mayor Ed Lee’s office justifies the city’s outlay on the theory that municipal coffers will runneth over with revenues from boosted hotel and sales tax. That thinking isn’t borne out by decades’ worth of economic studies, however. A 2008 analysis sifted through monthly taxable sales in Florida between 1980 and 2005, during which time Miami, Tampa, and Jacksonville hosted the big game seven times between them. And, sorry to say, six of the seven games did not show a significant jump in taxable sales, according to Victor Matheson, an economics professor at College of the Holy Cross in Massachusetts.
Even so, there’s a simpler way to look at it. If San Francisco had inked a deal with the host committee to recoup its expenditures on extra police services and transit reroutes, the city would bring in the promised tax revenues in addition to not parting with $4.8 million to begin with. We’ve basically put ourselves in a $4.8 million hole, and now we have to make it back…
Ed Lee seems lacking in negotiating skills when you compare his contracts with that of the Mayors of Oakland and Santa Clara. He takes the position of a loser who is dying to win, guaranteeing he will fail.
Perhaps he could learn a thing or two from our neighbors. This is no laughing matter for the citizens of San Francisco who are already dreading this party and wishing it was over. One wonders how much longer they will put up with this regime that specializes in overpaid consultants, bad contracts and traffic jams.
Why should we trust this administration to make a good deal with the owners of the Warriors when they can’t get the NFL to their expenses?