Will the Super Bowl Allow New Jersey to Recoup Money Spent on MetLife Stadium?
Friday, November 29, 2013
The New York Giants and the New York Jets are reaping the benefits of MetLife Stadium, but at what cost to the taxpayers of New Jersey?
Questions remain over whether the benefits of hosting the Super Bowl outweigh the costs. The New York Times' Charles Bagli took a look at the numbers for an article in Friday's paper. He reports that the stadium cost $1.6 billion to build, and although it was privately financed, New Jersey taxpayers did foot the bill for about $250 million in transportation and infrastructure improvements.
"The teams themselves probably won't make much if any money off of the Super Bowl itself, neither team is going to be playing in this Super Bowl, and they basically have to lend it to the NFL," Bagli said. "The NFL will make out like a bandit, as they usually do."