Md. Could Lose Millions If NFL Lockout Continues
OWINGS MILLS, Md. (WJZ) -- The NFL lockout is already having an impact. The Ravens have announced they will move their training camp from McDaniel College to the year-round facility in Owings Mills. That's a disappointment for Westminster but other disappointments may follow.
Pat Warren explains the state stands to lose millions on the season.
When the ball's in motion, the money rolls in. The state gets a cut of the thousands of wings and tankloads of beer served in bars and restaurants and six percent of football gear proceeds.
That got Maryland Comptroller Peter Franchot thinking about what a season without football would do to the state's bottom line. Both the Ravens and the Redskins play in Maryland.
"I love the Ravens and Redskins. When they both lose on a Sunday, I can feel and see the difference the whole week after that. There's a noticeable depression in economic activity and when they both win, which isn't often because the Redskins are struggling, it gives the state a big boost," Franchot said.
And the prospect of no season at all spells shortfall.
"It's actually quite significant and a lot more than we thought," Franchot said.
The dollar loss estimate for the state includes income taxes paid by coaches, players, staff and owners of $13 million. Admission and amusement taxes---another significant revenue source---is $4.6 million. Sales and use losses are estimated at $5.4 million. Combine these state figures with money that goes to local governments and Maryland could lose as much as $42 million.
"This really impacts the local economy and the state's revenue," Franchot said.
According to the comptroller, each Ravens and Redskins home game loss could cost the state $2 million.
