This report attempts to analyze the many dynamics of professional sports as they relate to the construction of arenas and stadiums by examining: (1) The reasons sports teams are viewed with such importance by the cities that have, or wish to have, them; (2) why the stadiums and arenas they play in, and the revenues these venues produce, are of such interest to the teams; (3) how these facilities actually produce the much-desired revenues; (4) how many of today's stadium projects are funded; and (5) the tangential issues interacting with pro sports that may affect future stadium projects and the leagues themselves.