it boosts morale for everyone. $300M can spread a lot of joy. It becomes a landmark for the city. Fans get excited, but the whole city gets excited, and everybody turns into a fan. There's an influx of more money, because they can charge more for tickets (it's worth it). More tickets are sold. For all the people who work hard, to make the team win, it's one less thing to bring you down, when you're in a positive environment (think beautiful state-of-the-art offices, and their work environment.)
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