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As NY Liberty await a parade and a party, NYC claims playoffs generated $18.3M+ of "economic impact." That primarily benefits the team/arena owner.

The New York Liberty, the WNBA champions, will be honored with a ticker-tape parade tomorrow morning.

Tomorrow night, at the Barclays Center, there's a celebration--the free tickets have been sold out.

A resolution

Council Member Crystal Hudson, whose 35th District includes the arena, announced she'd introduce a resolution honoring the Liberty, stating “For so many fans, watching and following the New York Liberty has long served as a place of community building and inspiration."
Hudson also will present the Liberty with a proclamation from the City of New York in recognition of their 2024 championship title and their continued contributions to our city, alongside City Council Speaker Adrienne Adams and Council Member Tiffany Cabán.

What about "economic activity"?

Last Friday, the New York City Economic Development Corporation issued a press release, headlined Mayor Adams Announces Yankees, Mets, Liberty Home Playoffs Games Have Already Generated Nearly $200 Million in Economic Activity for New York City, including:
The New York Liberty’s WNBA postseason run could generate a cumulative economic impact up to $18.3 million. The analysis accounts for ticket sales and spending from nearly 24,000 visitors from outside of New York City during the Liberty’s postseason run.
...NYCEDC’s analysis accounts for ticket sales, estimated at... 3,400 for the Liberty, and spending from outside of New York City for each playoff home game. Additional earnings for seasonal employees at Yankee Stadium and at Citi Field, as well as other factors were included. Seasonal employment estimates were unavailable for the Barclay’s Center. These impacts stimulate growth in the local economy, creating opportunities and jobs for New Yorkers and spending that is reinvested across the five boroughs.
Note that that number would have increased, given that the press release was issued before the Liberty needed a home game to win the Finals.

The Liberty sold out their games, as far as I can tell, so NYC EDC wisely only counted visitors from out of town, rather than locals who might have spent their entertainment dollars elsewhere in the city.

Still, I wondered, how was that $18.3 million divided among ticket sales and spending? Consider: at $300 per ticket--just my guesstimate--that's $7.2 million in ticket sales alone.
 
How much of the spending was inside the arena, on concessions, versus outside the arena, in local businesses?

My queries to the NYC EDC didn't get an answer.

Who benefits?

But I'm confident in observing that the "economic activity" most benefited the owners of the Liberty and the Barclays Center operating company, Joe and Clara Wu Tsai, who sold a 15% share to the family of Julia Koch.


In other words, the "$18 million for NYC" ballyhooed by the WPIX TV exclusive is not for the taxpayers. 

Sure, the spending does mean support employment (unspecified) at the arena and elsewhere, and it's better than not having more games. 

Still, remember that the arena doesn't pay taxes, and the foregone property taxes this past year topped $110 million.

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