But they have no legal way to wring kickbacks out of local establishments that profit from the existence of the Bears. That makes the owners of the Bears very upset. First, they ask the authorities to tax these establishments. This is quickly turned down by the powers that be. In most markets, we find competition across sellers forces prices down to costs as firms fight for customers.
Consumers get a great deal.
But, in the market for professional sports, the exact opposite holds. The competition comes on the part of the consumers. That was evident in the case of the White Sox and we are now witnessing the same form of rent extraction in the way the Bears are pressuring Chicago and Illinois. There are many approaches. One elegant solution has been put forth by a local expert on sports law, Professor Steve Ross of the UI College of Law.