That’s a fair argument.

Counterpoint is I’ve heard of Buffalo and part of that reason is because of the Bills. People gravitate towards latching onto sports team and it makes them feel invested in them and their city. I have no connection with either city but if I get a job offer to move to Buffalo, NY or to Bismarck, ND you damn well know which one I’m picking. It’s a level of prestige it gives a city. If they have a sports team I know they’re going to be a moderately okay place to live with things to do.

Also $850 million spread out over 20 million New Yorkers is a bit different than $900 million spread out across 4 million Oklahomans.

The data for it’s economic impact is murky, but part of that is because it’s hard to quantify. They’re an economic multiplier. Depending on the city it will have differing levels of impact across a multitude of businesses. But part of the intangibles are creating a brand identity for the city. In your example it also makes Buffalo a bigger travel destination. I’m a lot more likely to travel to Buffalo to visit Niagara Falls and catch a Bills game than I am to travel there to only do one of those things.