Not Just A Game : The Impact Of Sports On U.s. Economy

Abstract: Society is affected every day by many different kinds of sports.  These sports often govern society's way of life.  People all over the nation turn their TVs to sporting events, such as golf, during the weekends.   Scott Stossel states that "more than six million Americans enjoy watching golf on the weekends."  Parents  use sports as a teaching tool for their children.  Kids learn teamwork and discipline from team sports programs and  sports have also helped many students with their grades.  Kids who want to compete in school sports are taught to keep their grades up or they won't be able to play, but the greedy coaches and schools often look around grades to keep their "star athletes" in the games.  Adults have

Sports are something that everyone in the world, regardless of age, sex, or nationality, can enjoy. Whether it's a child playing in his first t-ball game or a professional athlete swimming in the Olympics and everyone in between, sports can connect almost everyone. Fan support and overall devotion for athletic competition has raised professional athletes to superstars and national icons; Super Bowl Sunday is a national holiday to some, and sports are one of the largest moneymakers in the economy.

Sports of old were merely competitive activities rooted in heroism and romanticism. Sports activities today, however, have no such innocence or simplicity. Currently in America, the activities that make up our sports culture is not only the competitive events themselves but the processes and issues that underlie and surround them. Entwined in our sports culture is the giant business of mass broadcasting. Indeed, sports and the media go hand in hand like peanut butter and jelly, like Mickey and Minnie, Darth Vader and Luke. They are intertwined and depend on each other to continue to grow. Sports media includes television, radio, magazines, newspapers, books, films, and, now, most importantly, social media devices provided by the

The National Football League (NFL) is an example of the incredibly successful industry generated by the sport. This business has been, and continues to be, the highest earning sports league in the United States. Average revenue that a franchise earns in the NFL is 286 million dollars, with the closest industry trailing behind being Major League Baseball (MLB) averaging almost 50 million dollars less (Gaines). Another aspect to observe with this comparison is putting in proportion how much more is made per game since football has significantly fewer games. The NFL creates its leading revenue in only a 16 game regular season, whereas the MLB falls short after playing 162 entire games. Putting this into perspective, an NFL team generates an average 17.8 million dollars a game, but an MLB team generates only 1.4 million dollars a game. Revenue

The American economy took a turn for the worst in 2007. Known as the “Great Recession,” the American economic recession entered into a recession in December 2007. The recession came after a large expansion in housing construction, home prices, and housing credit which began in the 1990s (Weinberg, 2013). The recession was large enough to impact all aspects of the American economy. The United States’ GDP dropped by 4.3% and the unemployment rate rose to 10% (Weinberg, 2013). Like most industries during the “Great Recession,” the sport business industry was affected. However, the effects on the sport business industry are far less severe than the effects on the other industries.

College athletics is a very diverse organization involving a lot of students, mainly as the players, and non-students such as officials, coaches and others. The leading governing body for college athletics is the National Collegiate Athletic Association, NCAA. College sports is itself a big industry involving sponsorships, TV networks, endorsements, retail products and marketing. But in spite of it being a big business, the players are not compensated for the work they deliver. This opens up two opinions: should players be paid, or should they not? Kristi Dosh’s article, “The Problems With Paying College Athletes”, (UNCLEAR)discusses where the coaches’ money come from to pay student athletes. On the other hand, Mark Cassell’s article, “College Athletes Should Be Able To Negotiate Compensation”, debates how athletes should be able to negotiate their compensation. This paper will evaluate the evidence of both Dosh and Cassell in order to determine which argument is more effective.

While growing up in the state of Texas I was introduced to National Football League (NFL) at a very young age. Not only was I obsessed with great players like Emmitt Smith and Michael Irving, I had a more finical appreciation for the lucrativeness associated with the NFL. My young adulthood as well as my teenage years was spent playing and learning football with the aspirations of hopefully making it to the NFL. Unfortunately, my playing days ended with tryouts at Texas Tech University, but my love for the game has remained stagnant over the years even till this day. The NFL today is Americas most watched sports league and has taken the crown as the most lucrative and unique economic force in sports. Forbes offered approximations stating that on average, the NFL generates more than $6-9 billion a year in revenues alone. A third of the individual franchises in the league were appraised at over more than $1 billion while the other franchises average nine figures or higher. The NFL as an organization generates its revenues through a multitude of ways ranging from huge television contracts, in-stadium ticket sales, advertising ads paid for by sponsors and merchandise. Their business model unlike most other leagues, is centered on a hard salary cap on player contracts which provides cost certainty with its sponsors. In this paper, I will examine the economic and historical narrative associated with the growth of the NFL’s

Sports are extremely popular around the world and only get more popular as time goes on. Sports is on television (TV), in the news, in the newspaper, and online. It only makes sense that this is the case. A sporting event is the ultimate drama. The variability of a game is what gets people so into it. Sports can tell a story, and teach great life lessons as well as inspire people. If sports are that important to the people around the world who watch it, just think about how important sports are to the ones who actually play it and coach it. It is their passion, their persona, their life. With the media’s harsh expectations of teams today, unless a team wins a championship, they are deemed unsuccessful. Since expectations are so high,

Sports teams, or professional athletic organization, are extremely important institutions within a city or region. They can help connect people with places, and through this loyalty, a sense of civic pride can be seen. Furthermore, the multi-billion dollar industry sports produces effects that can impact individuals and communities. In recent years dozens of new sports stadiums have been built throughout the country, with major funding coming from public subsidies. The aim of this paper is to analyze the positive and negative impacts that come with these subsidies.

In the book “Winning Is the Only Thing”, Randy Roberts and James Olsen unravel the true origins of sports and the post war effects on American sports. The book reveals the social, economic, racial, and worldly affairs that shaped sports in the U.S. Roberts and Olsen also explain how sports went from fun and games to winning being the only importance. The book begins with the cold war and its effects on the Olympic Games, demonstrating how the games were politicized. It then transitions with racial integration becoming a thing of the past, to the modernization of sports through mass media and technology. “Winning is the Only Thing” offers a variety of the historical stories, giving the readers factual insight on the controversial and scandalous sides behind the transformation of American sports. The book was informative and quickly covered the historical and evolutionary aspects of sports, keeping the book short, sweet and easy to read.

The employes at Sports Interaction squeezed some salary data from across the United States’ major league sports- the NHL (Hockey), NFL(Football), NBA (Basketball), MLB (Baseball), and MLS (Soccer). Soon after, the results were appalling when the calculations made it clear that the NBA has the highest average career revenue. This opened the eyes of many readers, and viewers.

In the United States, new sports stadiums are commonly seen as a vital part of the redevelopment of a city having a great economic growth with the production of jobs and a positive income builder. After this, the owners of the pro sports teams with millions and millions of dollars of subsidies for the construction of new stadiums and arenas and expect these facilities to generate economic benefits exceeding these subsidies by large margins. However, a growing body of fact indicates that professional sports facilities, and the franchises they are home to, may not be engines of economic benefit anywhere claims Sachse, “. In reality, sports franchises typically account for a very small proportion of the total economic output of the cities in which they reside.” Some economical studies on the amount of income and employment in US cities find no evidence of positive economic benefits associated with past sports facility construction and some studies find that professional sports facilities and teams have a net negative economic impact on income and employment. It just shows that these results suggest that at best, professional sports teams and facilities provide non-pecuniary benefits like civic pride, and a greater sense of community, along with consumption benefits to those attending games and following the local team in the media; at worst, residents

Economic theory introduces us to four different types of markets: perfect competition, monopolistic competition, oligopoly, and monopoly. Professional sports teams operate in an environment that is different than the typical business structure. The goal of this paper is to look at this industry, in particular the NFL, in an economics context and gain an understanding of the market structure of this unique industry. To do this I will discuss a brief history of the National Football League in the U.S. and how this organization is structured. I will also discuss typical market structures and type of

Sport plays a huge role in today’s society. It contributes to one’s health and fitness, social interaction, social and motor skills, patriotism, fun and entertainment. It also stimulates the economy and tourism leading to interaction between different cultures, for example the Olympics, and sport role models. Sports clearly are an important part of cultures and societies around the world as such events as the Olympics

As you may know, national youth sports week is in a few weeks. An estimated 45 million kids participate in youth sports across this country every year, and thousands of youth sports coaches, young athletes and parents across the country will continue to show their support. Organized sports help the youth stay in shape, teach them how to work together as a team but there is also a financial impact. Organized sports benefit both the kids themselves and also whole industries that rely on the funds generated in order to operate and provide jobs to others. I wanted to see if you are interested in an infographic created by the University of Florida that illustrates how the economy is impacted by youth