Now that the four million dollar subsidy of the San Jose Grand Prix is spent, the promoters have dropped it like a hot potato. What a surprise! It is claimed that the reason for discontinuing it is downtown construction, but that’s clearly a load of BS intended to let the city save face. Such events have lost money for other cities (e.g., Denver), so it’s a shame that the city of San Jose let their taxpayers be fleeced for this boondoggle.
Sports promoters always try to convince cities to spend tax dollars on special events, new stadiums, etc., claiming that they will make a new profit for the city. But if they truly were money-making propositions, the cities wouldn’t need to fund them. Investors would be falling all over themselves trying to get in on the action.
Good Riddance to the San Jose Grand Prix
Now that the four million dollar subsidy of the San Jose Grand Prix is spent, the promoters have dropped it like a hot potato. What a surprise! It is claimed that the reason for discontinuing it is downtown construction, but that’s clearly a load of BS intended to let the city save face. Such events have lost money for other cities (e.g., Denver), so it’s a shame that the city of San Jose let their taxpayers be fleeced for this boondoggle.
Sports promoters always try to convince cities to spend tax dollars on special events, new stadiums, etc., claiming that they will make a new profit for the city. But if they truly were money-making propositions, the cities wouldn’t need to fund them. Investors would be falling all over themselves trying to get in on the action.