Intro

When the Las Vegas Raiders opened Allegiant Stadium, the final price tag landed around $1.97 billion. Of that, $750 million came from public funds—largely hotel taxes and municipal bonds. But emerging estimates suggest Nevadans are ultimately on the hook for $1.35 billion+, as tax revenues have underperformed and repayment extends well into the future.

These stadiums aren’t just buildings—they’re economic megaphones, promising public investment will yield jobs, tourism, and redevelopment. Yet time after time, Black communities—taxpayers in those cities—see few of the upside gains. We fund the stadiums. We fill the seats. But we rarely get contracts, equity in development, or vendor opportunities. So the operative question is: How do we transform arenas from wealth drains to wealth engines?

The Arena Wealth Machine

Stadiums are launchpads for value creation—real estate development, retail districts, naming rights, media deals, and more. Urban planners sell them as anchors of downtown or waterfront revitalization.

But here's the crux: public money builds the stadium; private interests capture the profit. Developers, teams, and sponsors reap naming-rights revenue, luxury suites, event programming, and post-game mixed-use developments. The public pays; private actors benefit.

The Price of Play

• $1.97B: Cost of Allegiant Stadium (Las Vegas Raiders)

• $750M: Public contribution — funded by taxes

The Black Taxpayer Paradox

Arenas frequently arise in or near historically Black neighborhoods—see Washington D.C.’s Navy Yard, Brooklyn’s Barclays Center, Atlanta’s Vine City. Yet, local Black residents face rent hikes, increased taxes, and neighborhood disruption. What economic benefit trickles down?

While Black communities help finance arenas via sales taxes, hotel levies, or special assessments, Black-owned businesses often get shut out of construction contracts, concessions, or development deals. The irony is inescapable:

“We Fund the Fun, But Don’t Share the Check.”

The Blueprint for Equity

It doesn’t need to stay this way. Here’s how arenas could be structured for economic justice:

• Community Benefit Agreements (CBAs): Legally binding deals that secure local hiring, minority contractor participation, affordable housing, and community investment.

• Equity Stakes: Community Investment Trusts could allow residents to own small shares of arena-adjacent developments, benefiting from long-term appreciation.

• Youth & Education Partnerships: Negotiated requirements for sponsors to fund STEM-linked sports programs, scholarships, and youth leagues—creating pipelines for opportunity.

The CBA Effect
Comparable stadium CBAs have delivered more than $150 million in community investments—affordable housing, park space, and job training—when residents and leaders demanded them.

Conclusion

Cathedrals of sport shouldn’t sit outside of Black economic empowerment—they must anchor it. That means demanding a seat at the negotiating table, structuring deals, and mobilizing political and economic power. Stadiums can be more than venues; they can be engines of Black wealth—if we demand ownership of the receipts.