A plan to provide $150 million of bonds to build a professional soccer stadium in the District of Columbia spurred a group of economists to come out against the project, saying it would not bring sufficient revenues to the city to justify its construction.

“Economic research on the impact of professional sports stadiums suggests that the proposal to provide between $150 million and $225 million in public funds to build a new professional soccer stadium in the District of Columbia likely will not generate notable economic or fiscal benefits for the city,” said a statement by the D.C. Fiscal Policy Institute signed by 26 economists. “Most studies find that new sports stadiums do not increase employment or incomes. Some even find that stadiums have a modest negative effect on local economies.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.