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The Latest Breaking News from Victor Matheson

American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices

"No one has ever built a new stadium and made tickets cheaper. No one’s trying to.”

Fortune

Gambling becomes America's favorite pastime as Americans spend more on sports bets than movies, arts, museums, and music combined

Americans wagered $166 billion on sports last year, more than Hollywood, the music industry, books, and museums combined.

Fortune

Soccer: World Cup turnout defies concerns, as Americans flock for the spectacle

Despite high ticket prices and travel restrictions, the World Cup is witnessing record attendance in the US, driven by a love for grand spectacles rather than soccer's popularity. Experts highlight the appeal of major global events and the allure of top-tier sporting experiences, suggesting Americans are willing to splurge on…

The Economic Times

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read the most diverse news in one place.

How FIFA restructured the World Cup into its biggest payday ever, as host cities face a budget shortfall

Gianni Infantino promised to quadruple FIFA's income back in 2016, and now he's throwing "104 Super Bowls" with an unprecedented tournament.

Fortune

American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices

"No one has ever built a new stadium and made tickets cheaper. No one’s trying to.”

Fortune

FIFA says 'market rates' explain World Cup prices. Economists say the market was rigged by design

FIFA launched its own resale marketplace and collects 30% on every ticket resold. Economists say it was designed to extract revenue at every stage.

Fortune

FIFA’s foray into dynamic pricing may be backfiring by keeping actual fans out of the World Cup—and sending some prices lower as backlash hits demand

Tickets for the final match on July 19 cost as much as $33,000.

Fortune

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Revisiting the Tokyo Olympics as the track and field world championships open in Japan's capital

Japan’s National Stadium was fanless four years ago during the pandemic-delayed Tokyo Olympics

The Independent UK

The $62m question: does a high school really need a professional-style stadium?

A 10,000-seat arena for a school with fewer than 2,000 students raises questions about America’s sporting and educational priorities

The Guardian - US

Philadelphia mayor announces new plan to keep 76ers arena in South Philadelphia, pursue WNBA team

The Philadelphia 76ers will partner with Comcast Spectacor to build a new arena in South Philadelphia and abandon a deal to move downtown

The Independent UK

Want to speed up a road or transit project? Just host a political convention

Cities seldom launch big-ticket infrastructure projects to host a political convention, but landing the high-profile events often provides a nudge to speed up construction

The Independent UK

Will the Republican convention be good for Milwaukee businesses?

With 50,000 visitors estimated to visit the city, most restaurants are hoping for a boost, but some are shunning the event entirely

The Guardian - US

One of the biggest hurdles for athletes on the Olympic path: Money

Full-time training, travel to compete, medical and most other costs for these athletes are out of pocket.

Al Jazeera

‘The stadium is secondary’: how US sports teams became real-estate speculators

More than ever, franchises are a profit play as owners seek to boost income by building developments where people can live, work, shop, dine, drink and play

The Guardian - US

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WEKU

The settlers brought the lottery to America. It's had a long, uneven history

Americans spend an estimated $100 billion each year on lottery tickets. It's a tradition that dates back to the nation's earliest settlers, and was even one the Founding Fathers took part in.

Chicago Sun-Times

MLB hopes Cubs-Cardinals’ London Series helps spur growth in Europe

“The U.K. has really been identified for us, London in particular, as the jumping off point for us to get into Europe,” said Chris Marinak, MLB’s chief operations and strategy officer.

The Independent UK

Sapporo election could restart bid for 2030 Winter Olympics

Sapporo’s bid for the 2030 Winter Olympics has been slowed by fallout from the still-developing corruption scandal around the 2020 Tokyo Games

People

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