Arizona’s State Senate approved HB 2704 last Thursday night, putting taxpayers on the hook for over $1.3 billion, including sales and income taxes, for Chase Field stadium improvements that the Diamondbacks were originally contractually bound to pay for under their 2018 deal with Maricopa County (but failed to do). Monday the House did the same – completing the legislative branch’s role in the giveaway of public funds to Kendrick. Hobbs praised the scheme when it passed the House suggesting she’s ready to approve the heist.
Despite late-night amendments promising transparency, governance tweaks, and a legislative “intent” that the team contribute $250 million, but none of these provisions are enforceable.
Nearly all sales taxes from stadium events and income taxes from players and staff will automatically be funneled into the stadium fund. Though the bill technically caps the public contribution at $500 million, it automatically escalates 3% each year meaning the total is well over $1.3B over 20 years.
What’s more, because Kendrick doesn’t disclose revenues from concerts or playoff games, there’s no way to verify how rapidly the fund is filling or if the money is being spent appropriately.
Also, economic studies consistently show that public funding for sports stadiums don’t generate real economic value they simply shift entertainment dollars from local businesses to subsidize billionaire profits.
Is this public gift to the Diamondbacks really worth robbing taxpayers of over a billion dollars without transparency, enforcement, or public benefit?
No
