A key funding source for the authority that owns State Farm Stadium did not yield enough money for the authority to make all of its legally required payouts in recent years, according to a new state audit.
Hotel bed tax and car rental fees have pumped nearly a half billion dollars into the Arizona Sports & Tourism Authority since it was born. The authority then divides this money up to help pay off the stadium, encourage tourism, promote spring training, build youth sports facilities and fund its own operations.
The audit says in recent years, the bed tax and car rental money has been about $83 million short of what the authority needed for legally required payouts. Due to the pandemic, this funding is projected to drop by 25% in the current fiscal year.
