Financing stadium construction can be a risky bet for cities
Setting up a sports team can be expensive, so some municipalities have chipped in to build a stadium for a local club. New Jersey has a mixed record in this regard, since at least three minor-league baseball clubs — the Camden Riversharks, the Newark Bears, and the Atlantic City Surf —struck out after blowing through tens of millions of taxpayer dollars. But some other teams haven’t.
NJBIZ spoke with a winner — entrepreneur and film producer Steve Kalafer, owner of the Bridgewater Township-based Somerset Patriots — and other experts about what makes the difference between teams that hit a home run and those that don’t.
Read more here: https://njbiz.com/fields-dreams-nightmares/