I don't agree that theres zero economic value. Take '04 for example, you think the entertainment industry and all associated industries in Calgary would have made the same amount of money that year without the Flames? I know its not sizeable but there is some economic benefit to the civic pride and community the sports franchise can create. They have the power to make people happy and excited and ignoring the obvious non-economic benefits of a happy and excited population they do tend to spend more spontaneously instead of planning big ticket purchases that usually take money out of the city.
Season ticket holders are also not likely to spend all of that money (and the money they spend on game days) in the city either.
Again, It might not be a big economic impact but there is definitely some. In the end Im hopeful for a good compromise where both parties get some benefit.
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