Studies have been completely inconclusive in terms of the real benefits to having a professional sports team. Generally the massive outlay, infrastructure improvements and maintenance, city personnel requirements (cops, traffic, busses, etc,) and the foregone property taxes as a result of TIF's offset the generated revenues.
That being said, his is corporate welfare, flat out. I'm against states going out and trying to incentivize businesses moving state to state (something my man Mitch and Scott Walker have huge boners for) and this is really nothing more than that. It's a misappropriation of tax payer dollars and should infuriate anyone even mildly interested in understanding where that stolen portion of their paycheck ends up. Zygi's coffers, that's where.
http://www.nytimes.com/2010/09/08/sports/08stadium.html?_r=2&src=twt&twt=nytimes
Story from a couple years ago that goes into some of the underlying issues and expenses.
Eh, I've grown kind of numb to the "socialism is the devil stuff." People don't want to pay for the schools their kids don't attend, the roads that they don't drive on, the parks that they don't visit, or the local fire department until their house is on fire. In general most people want all the things that their tax dollars pay for, but they don't want to pay taxes. Personally, I'm willing to pay for the Vikes stadium with my tax dollars.
I am kind of confused by your stance on socialism/capitalism though. You use the word "welfare" like it's a curse, but then you also act like Zygi's an asshole for being a successful business owner and trying to extract fat cash from his customers and maximize his profits. Isn't that what he's supposed to do?