Welcome to the first season of the Los Angeles Jaguars. What about Jacksonville? The city and state cried poverty and neither government would pony up any money for a new facility or even a decent makeover. The people of the city also didn’t come to the games so the Jags left.
Thank heavens that has not happened yet but it could happen soon.
Teams in every professional sport are struggling financially. Part of that is their own fault. They spent too much on players when things were good. Now that the economy has turned down, they are still spending more than they can afford.
They are also notoriously bad marketers. Some teams got a bump in attendance by building a new facility with state and or city help. Those that did got only a temporary bump no matter how nice the new digs were. Within a year or 2 they were back to seeing a lot of empty seats at every game. But in addition to the same old attendance they had a boat load of debt. With the government borrowing so much money, eventually interest rates will have to go up. The debt load teams are carrying will sink … Read more at FryingPanSports