No. Four decades of research and analysis show that local/state/provincial governments using public funds for stadiums, arenas etc. are terrible uses of money. For one, the economic projections you hear being thrown around have zero basis in fact. They never come to fruition. Ever. Second, there is no organic increase in spending. If it's an existing team, they already have ticket sales, concessions, etc. A new stadium 'might' add seats, but in terms of percentage of revenue, it's always quite small. But let's say that football team X gets a new stadium that add 10,000 seats. The average NFL season ticket price is $93.00 based on 2017 data. Let's round this up to $95.00 and assume that, by magic, they sell every seat to every game. A 10-game (2 preseason, 8 regular season) package, if all 10,000 seats are sold at this price would generate increased revenues of $9.5 million. That money goes to the team owner. Depending on where they live, they may or may not pay taxes on that revenue. They could also create a shell company in the Cayman Islands and not pay a dime! But that $9.5 million isn't incremental/new revenue. All you've done is shift spending. So instead of buying movie tickets, a day at a theme park, going out to restaurants, and the like, people buy football tickets. So these other businesses all see a loss. It's a zero-sum game.
OH, but jobs! The construction jobs are temporary and don't count. You're talking permanent jobs. This mythical football team already has a full-time staff. Having additional tickets to sell doesn't really create a need to hire people. "Maybe" you hire 1-2 people in sales to handle/process ticket orders. Stadium jobs? Temporary. Most NFL stadiums sit empty 340-350 days a year. Again, only 10 games counting preseason. A couple concerts, private events, other sporting events...the most optimistic estimate would be adding 10 'event days'. So that's 345 days of the stadium sitting empty. So you're not hiring additional people, and vendors/security/etc. working 10 additional days out of the year at minimum wage is zero impact.
But let's talk about interest payments for this stupidity. For every million dollars borrowed (assuming a bond issue, 30 years, 3.5% interest rate), your local government is paying just over $616,500 in interest over the life of the bond issue (this is math). So if your local government borrows $100mm to finance this through a bond issue, they'll be paying $61.65 million in interest in addition to the original $100 million. Any local/state/provincial government that engages in this should be removed from office immediately.
This doesn't factor in government subsidies, write-offs from paying taxes, free utilities, the cost of infrastructure improvements in support of this new stadium.