Quantcast

Shenango Valley News

Friday, September 20, 2024

Lawmakers urge Pittsburgh pirates to increase investment ahead of new stadium lease

Webp 1qm5g8j2ceqdt6t0rninr9reyt4r

State Rep. Timothy R. Bonner | Pennsylvania House of Representatives

State Rep. Timothy R. Bonner | Pennsylvania House of Representatives

HARRISBURG – Today, Pennsylvania’s Independent Fiscal Office (IFO) released studies on the economic impact of the Pittsburgh Pirates and the Philadelphia Phillies on their respective cities.

After reviewing the reports, Reps. Tim Bonner (R-Mercer/Butler) and Jim Gregory (R-Blair) emphasized that the Pirates' organization needs to ensure its fans and taxpayers across the Commonwealth receive a fair return on their investment.

In the early 2000s, the Pittsburgh Pirates received $75 million in state grant funding for the land and construction of PNC Park. Allegheny County tax funding amounted to approximately $147 million. The Pirates’ organization contributed around $40 million for a total cost of $260 million. In exchange for this investment, the public is entitled to economic benefits in their local economy, according to Bonner and Gregory.

In 2030, the current lease on PNC Park will expire, necessitating economic and lease renewal decisions by both the Pirates and the Allegheny County Sports and Exhibition Authority.

While the Pirates contribute some benefits to the local economy, they lag behind their cross-state counterparts, the Philadelphia Phillies, in several economic factors:

- Pirates drive $254 million in 2023 net direct spending; Phillies drive $525 million.

- Pirates drive $546 million in direct spending; Phillies drive $970 million.

- Pirates support approximately 3,000 jobs; Phillies support 5,450.

- Pirates generate $22 million in tax dollars for the state; Phillies generate $45 million.

Even considering population size differences, there is a significant disparity between financial outputs from the Phillies compared to the Pirates.

The IFO reviewed relationships between team payrolls, wins, and attendance as part of these reports. The IFO found a positive relationship between team payrolls and wins as well as wins and fan attendance.

Over the past 30 years, the Pirates have had one of baseball's worst records with only four winning seasons during this period. No team has spent less on free agency signings than the Pirates over these three decades.

Bonner stated it is time for increased competitiveness from the Pirates. According to Forbes Magazine, ownership has seen team value rise to $1.32 billion. Revenue sharing among teams and television partners has significantly boosted profit margins. Yet, payroll remains among baseball's lowest five teams.

The reports indicate that increasing average win totals by just three games could generate an estimated additional $76 million in total fan spending annually—$31 million of which would directly support local businesses outside PNC Park.

The IFO’s findings highlight potential economic impacts from sustained success by a competitive Pirates team on local economies. When taxpayers invest in stadiums they become silent partners in organizational operations according to Bonner and Gregory.

“I've waited to see this data for as long as anybody,” said Gregory. “Philly will be pleased, and Yinzers will point out that Bucs need to do better.”

“If taxpayers are going to invest money into stadiums,” said Bonner “the Pirates need also invest in PNC Park along with putting a worthy product on-field.”

To read IFO’s reports for both Pittsburgh Pirates & Philadelphia Phillies visit Representative Tim Bonner17th Legislative DistrictRepresentative Jim Gregory80th Legislative DistrictPennsylvania House of RepresentativesBonner Media Contact: Tim Craine7176097331tcraine@pahousegop.comGregory Media Contact: Jennifer Fitch7172606563jfitch@pahousegop.com

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS