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How could an NBA Expansion Team help a City’s Economy?

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Sports teams play a huge part in the cities and towns they are situated. From a community basis, they provide a familiar talking point and passion for many to build connections and relationships. Supporting their team in the sport they love in the city they live in is a huge passion for so many Americans across the country.

Financially too, they bring jobs and tourism and so much more to the city to help with its generation and continual growth to be the best place it can for its residents to live in.

Becoming an expansion team in a league such as the NBA is a hot topic for conversation in cities looking to add them with the possible lucrative financial rewards that they could bring.

The attraction of your city being at the centre of an NBA finals where the odds can be found at https://sportsbook.draftkings.com/nba-finals--odds, provides the chance to build a reputation as well as regular income which could gratefully benefit the city.

There are many different ways in which an expansion side in the NBA can provide economic bonuses.

Media rights packages have hit new highs and reports suggest that the NBA is looking for a new media rights deal that would play them three times as much as they are making in their current deals with ESPN and Turner Sports.

The deal they are currently on pays the league $24 billion over a 10-year pact which means they are looking for their next rights package to be over $70 million.

The sheer amount of money in which an NBA expansion side can bring in through these television and streaming deals is incredible and can ensure they cover their costs as a club. The marketing options they have mean that they can earn further revenue as well as selling tickets and merchandise to name just a few ways the franchise can earn profits.

While an NBA Franchise can earn big, this money can then be regenerated into the community in which the club calls itself home.

Socially, the team provides an identity for the city. Sports teams become synonymous with the city they live in. You don’t think of New York without thinking about the Knick, Chicago with the Bulls of Boston with the Celtics.

These teams provide a focus for the residents of the city to get behind and band together. Pride can be built with success while fans can build a sense of pride for their home on the back of the teams.

Economically the clubs can pass on the revenue which they bring in through the form of jobs. As an NBA expansion team requires many hands to build it and keep it running.

The initial roles in building the stadium and training facilities provides construction companies with huge projects and work for those in the industry at all levels in the community.

Administration, marketing, medical, scouting roles, coaching roles, ticket sellers, security, cleaners, and so many other roles are required to be filled and provide opportunities for people across the city to work in.

An NBA team is more than just the players on the court, those who provide so much in the background receive the opportunity for regular work ensuring that money is invested straight back into the community.

With the jobs the club offers themselves, they also provide further opportunities indirectly to beat writers and reporters who cover the team for new outlets in the city, giving a local review of the team.

Sporting wise, adding an expansion NBA team to your city provides you with the chance to set yourselves up as a city of sport. Your city can be placed on the map if it isn’t already with people around the world making it a popular tourist destination as well.

People will travel Chicago just to see the Bulls, Phoenix to see the Suns and Denver to see the Nuggets. Even those popular tourist destination cities like Los Angeles and Miami will draw in even more tourists who want to check out a Lakers or Heat game.

The appeal of an NBA side adds so much to a city as well as a chance for locals to get right in and enjoy all the action whenever their team is playing at home. Working hard to reach the NBA Playoffs provides a huge bonus to the club as well as the city.

More people will travel to enjoy the games while the success of the team can provide a spotlight on the city.

These new expansion sides can provide a huge economic impact on the city, with jobs, selling food and drinks from local providers and so much more, and they provide a real sense of pride when run well in a city.

Its been seen to provide a boost in different cities around the United States which provides an interest for any city out there currently missing out on one.

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