NFL Draft Will Cost Philly $500K
The city will shell out $500,000 for the 2017 NFL Draft Experience coming to the Benjamin Franklin Parkway this month.
That’s only a fraction of the full cost of the event – an estimated $25 million. The NFL will cover $20 million, and the rest, $5 million, will come from private funding secured by the city.
The three-day event, which will run April 27th-29th, is expected to bring as many as 200,000 people. The city’s in-kind contribution, which is typical of high-profile, large-scale events, will work to ensure that security, management and sanitation services all run smoothly. If costs top $500,000, the NFL will reimburse the city with the exceeding amount.
Philadelphia Convention and Visitors Bureau spokeswoman Alethia Calbeck told Billy Penn that the NFL Host Committee is currently at 90 percent of its $5 million fundraising goal – meaning it still needs to raise $500,000 dollars for the event, which starts in two weeks.
City officials predict that the NFL Draft Experience will generate an $86 million economic impact, according to NewsWorks. Mayoral spokeswoman Ajeenah Amir told the publication that the event puts the city “on a world, televised stage.”
Some residents, however, are complaining that the slew of street closures prompted by the NFL draft will cause major disruptions.
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