Scottrade Center could miss out on events like the Missouri Valley Conference tournament

ST. LOUIS (KTVI) - It is an annual basketball tournament with a huge economic benefit for St. Louis. Arch Madness brought fans from the Missouri Valley Conference to St. Louis this weekend. Some of those fans told us they’ve spent more than $1,000 dollars in the St. Louis area during the times they’ve visited the city for the annual championship tournament.

“I’m here with 4 kids and a wife so it’s a lot,” said Kansas Resident and Wichita State fan Mark Towner.  “Meals are anywhere from $75 to $100.”

The St. Louis Board of Alderman recently approved renovations for the Scottrade Center costing $105 million over a 30-year period.   The city of St. Louis owns the building.  There is also an effort to secure state money.  Some say the renovations are needed to compete for huge events such as a Final Four.

“The Nashville arena, Bridgestone Arena, has already undergone you know $100 million plus in renovations and so this building (Scottrade Center) has to stay competitive,” said Frank Viverito, St. Louis Sports Commission.

Critics feel taxpayer money could be put to better use.  They question the accuracy of some of the numbers being used to show the economic benefits of certain events and believe there are more pressing issued that need to be addressed.