The term dates back to ancient Asia when a king would gift a white elephant to a subordinate he was dissatisfied with because the associated costs of keeping a white elephant significantly outweigh its value.Today’s white elephants include sports facilities that have experienced substantial construction cost overruns, are underused or present a financial burden to taxpayers.
Meanwhile, a judge has ordered the closure of the 2016 Rio Olympic Park over safety concerns. The sport facilities began to fall into disrepair only six months after the Games concluded. To amplify the financial repercussions, newly constructed or renovated professional sports facilities received a total of US$3.2 billion in tax breaks between 2000 and 2016.
Several professional sports teams across North America saw attendance drop by more than 10 per cent between 2008 and 2018. Major League Baseball experienced a league-wide decline of 10 per cent between 2017 and 2018. Data suggests that younger sports fans may be less likely to attend actual events, instead relying on media for their sport consumption.
Strategic locations include using brownfields — unused land previously used for industrial purposes — situated within urban regeneration areas that experience high levels of traffic. Brownfields are often occupied by infrastructure that has been deemed obsolete.
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