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September 29, 2016

Philly teams making playoffs is boost for city's bottom line

A long postseason run does wonders for the psyche of Philadelphia sports fans, but it also has a big impact on the city's coffers.

City Controller Alan Butkovitz released an economic report Wednesday detailing the revenue generated by the city's Amusement Tax. According to the figures, nearly $197 million was reported over the last 10 years.

The report suggested an additional $500,000 to $3 million is generated each year when the local teams make the playoffs.

The exact impact from the Eagles, Flyers, Phillies and Sixers is difficult to determine because the tax is imposed on all amusement events. The city imposes a five-percent tax on every concert, movie and athletic event.

However, the revenue generated fluctuated in accordance with how many local teams make the playoffs.

Unfortunately, there have been barren years when none of Philly's four major sports teams made the playoffs. Those years unsurprisingly saw the least revenue brought in by the tax. The city reported $18.55 million in the 2013 fiscal year and $18.75 million in 2015.

The city enjoyed a significant boost when most of the local teams made the playoffs from 2009 through 2012. On average, the city generated $21.5 million from the Amusement Tax.

During that time, the Eagles hosted a playoff game one year, the Sixers hosted games three of those years, and the Flyers and the Phillies hosted games all four years.

The city reported $21.58 million and $21.28 million in the 2009 and 2010 fiscal years, respectively.

In 2011, all four teams hosted postseason games which led to record-generating revenue. The city brought in $21.74 million that year. That is also the only year the Eagles played a postseason game in Philly during that period.

Although the other three teams made the playoffs again in 2012, revenue dipped slightly to $21.66 million.

Last year, the Flyers were the only Philly team to secure a postseason berth and the city reported $19.14 million in revenue. Although the team played just three games at home, the city estimated that more than $500,000 was generated for the city.

While the Phillies will not make the playoffs this year, the city is clearly banking on the Eagles, Sixers and Flyers hosting some postseason games. This year's projection calls for $20.5 million in revenue for the current fiscal year.

Check out the City Controller's report here.