Using the contingent valuation method, this article estimates the value of public goods the National Football League’s Jaguars produce for Jacksonville, Florida, including the value of elevating Jacksonville to “major league” status and the value of improving racial relations. It also estimates the incremental value of public goods potentially produced by a National Basketball Association team in Jacksonville. The present value of public goods created by the Jaguars is $36.5 million or less, far below subsidies provided to attract the Jaguars. For a basketball team, the figure is less than $22.8 million. The results add to the growing body of CVM literature indicating that sport public goods probably cannot justify the large public expenditures on stadiums and arenas.
Johnson is with the Dept. of Economics, Centre College, Danville, Kentucky, 40422. Mondello is with the Sport Administration Program, Florida State University, Tallahassee, Florida, 32306. Whitehead is with the Dept. of Economics, Appalachian State University, Boone, North Carolina, 28608.