Sport and Economics
In class on October 19th and the 24th, we discussed how sport and the economy are related. We went over a lot of information within the two class, but the main point is that money has become the foundation of sport at all levels. For a sport or team to flourish, there are four main things that they must have. Those for things are a market economy, large, densely populated urban areas, people interested, and large amounts of capital. Salary caps have become a large part of the sport industry. The MLB is the only major league without a salary cap. The NFL, NBA, MLS, and NHL all have salary caps in effect. We learned about the two different forms of salary caps, hard cap and soft cap. With a hard cap, you can not exceed the cap at all, but with a soft cap you can go slightly of the salary cap.
In the article Not Just a Game:The Impact of Sports on U.S. Economy written by Gwen Burrow, she discussed the impact of sport on the economy. One of the first thing she mentions is how the sport industry as a whole brings in $14.3 billion in earnings per year. The sport industry also created 456,000 jobs. Burrow mostly focuses on different sport occupations and different sport industries and compares them. She uses a lot of different charts and graphs to display the information she presents. For example, the first chart shows how many jobs in sport are available in each different industry. In elementary and secondary schools, there were about 16,500 jobs available while in collegiate athletics there were roughly 2,100 jobs in 2012. Those 16,500 jobs in sport only makes up 2.9% of all of the jobs that relate to elementary and secondary schools. The 2,100 jobs at the collegiate level make up a little bit more at 3.6%. Lastly, there is a chart that shows the grow in jobs from 2009-2013. The biggest change in number of jobs came from coaches and scouts with a growth of 19,245 jobs. Even though coaches and scouts gained the most jobs, agents and business managers had the biggest increase in percent with 13%. Overall from 2009-2013, the sport industry gained 26,793 jobs. This turned out to be a 8.3% increase.
Link: Not Just a Game: The Impact of Sports on U.S. Economy
In the article Not Just a Game:The Impact of Sports on U.S. Economy written by Gwen Burrow, she discussed the impact of sport on the economy. One of the first thing she mentions is how the sport industry as a whole brings in $14.3 billion in earnings per year. The sport industry also created 456,000 jobs. Burrow mostly focuses on different sport occupations and different sport industries and compares them. She uses a lot of different charts and graphs to display the information she presents. For example, the first chart shows how many jobs in sport are available in each different industry. In elementary and secondary schools, there were about 16,500 jobs available while in collegiate athletics there were roughly 2,100 jobs in 2012. Those 16,500 jobs in sport only makes up 2.9% of all of the jobs that relate to elementary and secondary schools. The 2,100 jobs at the collegiate level make up a little bit more at 3.6%. Lastly, there is a chart that shows the grow in jobs from 2009-2013. The biggest change in number of jobs came from coaches and scouts with a growth of 19,245 jobs. Even though coaches and scouts gained the most jobs, agents and business managers had the biggest increase in percent with 13%. Overall from 2009-2013, the sport industry gained 26,793 jobs. This turned out to be a 8.3% increase.
Link: Not Just a Game: The Impact of Sports on U.S. Economy
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