No compete clause wrong

Okay, the Detroit Red Wings get a new home, paid for mostly by the people. And once it's built, Detroit cannot compete with the new arena by hosting events. The city cannot hold events in its own arena.

This is simply wrong. How and why would anyone in their right minds accept it? Because otherwise Mike Ilitch might take his team somewhere else?

The correct response to that is, let him. It is absurd that a wealthy man should coerce the city over something such as this. Indeed, such corporate welfare is probably worse than welfare for individuals; Mr. Ilitch certainly doesn't need the money while at arguably welfare recipients do.

Yeah, jobs, blah blah blah. All we know is that we don't get taxpayer handouts or subsidies for buying a home or playground for ourselves, and those would create jobs too. Why should the rich and powerful? Only, it seems, because they are rich and powerful.