City councillors want the Toronto Raptors to play basketball again—for the sake of the economy

Josh Colle and Michael Thompson are concerned about the NBA lockout and its potential impact on the city’s economy. Sure, it’s easy to forget, but the Toronto Raptors actually rake in a lot of money. The Globe and Mail reports that the Raps “are one of 10 NBA teams that average more than $1 million a game in gate receipts,” and that the Air Canada Centre adds roughly $2.4 billion annually to Toronto’s economy. But we have to wonder—like some of the commenters on the Globe story—how significant that impact really is. Sports teams don’t actually create new capital, so the money that isn’t being spent on the Raptors is likely being redistributed elsewhere in the local economy. Of course, from a sports perspective, it’s no secret that teams often struggle to rebuild their fan bases after a cancelled season. Just ask the poor Montreal Expos. Read the entire story [Globe and Mail] »