In a MarketWatch article, Victor Matheson, associate professor of economics at the College of the Holy Cross, commented on the complex economic nature of the National Football League’s Super Bowl.
Typically, cities across the country compete to host the landmark event. This year, the Super Bowl will be held in New Orleans, and since 2006, the city has spent $336 million renovating its football stadium. Analyzing this figure, Matheson recognized that the city of New Orleans expects to accrue hundreds of millions of dollars to spur the local economy, thereby making any costs to taxpayers justified. However, after explaining that the money visitors spend on the Super Bowl takes away from money that would have otherwise been spent on local businesses and events, Matheson contended that “the numbers are greatly exaggerated,” and that the local economy will not necessarily reap the benefits it expects.
In the same article, Matheson also commented on the nature of Super Bowl ticket prices. With prices between $800 and $1,200 and after being resold for four or five times that amount, tickets are hard to come by. Factoring in other costs such as the price of travel, Matheson stated that the big game is more than just pricey. “The Super Bowl has always been an event for the elite and has become more so over time,” he said.
This ‘Holy Cross in the News’ item by David Cotrone ’13.
