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Stadium report. A stadiums presence has a vast range of effects on those in the immediate locality. Social, economic, environmental and hedonic effects are the main criteria this report will address. My argument follows the lines of there being both po

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Introduction

Introduction Stadium development and reconstruction has been a common practice throughout history, and since the turn of the millennium, the relocation of stadiums, due to various economic and bureaucratic requirements, has increased. The fundamental question concerning this report is; what constitutes an 'externality'? A solid definition: "an externality is an effect of a purchase or use decision by one set of parties on others who did not have a choice and whose interests were not taken into account" 1. For this report the 'purchase or use decision' applies to the relocation and expansion of stadia, and the 'effects' on 'others' consist of the costs and benefits to the local area and beyond (national, global etc.). One might also refer to them as 'spillover costs/benefits'. A stadium's presence has a vast range of effects on those in the immediate locality. Social, economic, environmental and hedonic effects are the main criteria this report will address. My argument follows the lines of there being both positive and negative externalities involved, with the positives being dominant. The stadiums used in this report are: New Wembley Stadium Emirates Stadium City of Manchester Stadium 2012 Olympic Stadium (proposed) New Anfield (proposed) This report has been compiled with the collection of secondary data from books and websites, complemented by an investigation of all the externalities involved. ...read more.

Middle

This is hence a negative externality. By this evidence it is apparent that in most cases the impact of stadia on an area's social (and environmental) quality is more positive than negative. The relocation of stadia can bring status, prestige and wealth to area they are situated in. However, this does not mean that costs and negative externalities are not present. Below is a bar chart illustrating the initial construction costs for each ground: The New Wembley's costs, as shown by the table, are conspicuously high, primarily due to a notorious dispute with the building contractors. This forced the costs to run 50% over budget in 2007 with a pre-tax loss of �53.3million. The stadium also lost �22million in its first year of operation14. The debtors included the Football Association, Multiplex and most importantly, Wembley National Stadium Ltd. __________________________________________ 6 http://www.whathappenedlastnight.net/manchester/casinos-and-gambling.php 7 www.designbuild-network.com 8 http://news.bbc.co.uk/2/hi/uk_news/politics/6312707.stm 9 http://en.wikipedia.org/wiki/Wembley_Stadium 10 http://en.wikipedia.org/wiki/Emirates_Stadium 11 http://uk.eurosport.yahoo.com/18062008/4/olympic-venues-cost-106m.html 12 http://en.wikipedia.org/wiki/City_of_Manchester_Stadium 13 http://en.wikipedia.org/wiki/New_anfield 14 http://www.telegraph.co.uk/sport/football/international/england/2301729/Wembley-stadium-hit-by-pre-tax-loss-of-andpound53m.html Yet, one must look at the 'others' outlined in the definition; those not directly involved. One interesting point is that the problem is not only rooted in finance but also in reputation, with damage done to the status and perceived reliability of the UK construction industry - including those industries not involved in Wembley's construction. There is also the fear that the burden of financing the stadium could undermine the FA's core function of supporting grassroots football in England. ...read more.

Conclusion

Crime is also markedly reduced, largely due to the orderly nature imposed following local regeneration, as well as specialist schemes such as 'kickz' and Wembley's policy to make Brent more environmentally sound. Despite this, different stadiums also have varying costs, and, as is shown by Wembley, the feud with the contractors alarmingly increased the expenditure and prolonged the date for completion. This suggests that conflict can be a large hindrance concerning stadium construction, having a substantial affect on the economic structure of a locality. Nonetheless, most stadiums are constructed with few hurdles, and the balance between the costs and benefits, by means of regeneration and monetary gain in the area, is optimal. This is still not a fixed rule, however, taking into account the conflict of opinion regarding the aesthetics of the 2012 Olympic Stadium. Yet, it is also clear that the subjective opinions of various tabloids and other opinionated niches have no bearing on the actual construction of the stadium. By the evidence collected it can be assumed that both positive and negative externalities are indeed produced by stadium relocation and expansion, yet there are more positive ones than negatives. Stadia relocation not only brings economic, social and regeneration benefits to the areas they are situated in but also to the area they have departed, as is the case with Highbury. Although the costs are high, it could be argued that the benefits to the local area, and of course, to the grounds themselves, are indeed worthy of this. ...read more.

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