For some time now, it has been the posture of major league baseball that taxpayers should bear some or all of the cost of new stadiums. They argue that the community will benefit both economically and psychologically from such an investment. A stadium, they claim, will bring new jobs, increased land values, enhanced tax collections, and perhaps most important, confer "major league status" on the city and state. In this teaching note designed for beginning students of economics, the authors use basic supply and demand analysis to demonstrate that it is the baseball players who enjoy the vast majority, if not all, of the taxpayer-supported benefits of the stadiums they play in. (Contains 1 figure.)