Economics

Economics "Money makes the world go 'round." Sports could not exist without the presence of money. You have high paid athletes asking for multi-million dollar contacts, while at the same time you have doctors not even making close to that amount. There are corporation buying out sports teams, buying stadiums, and buying everything that has to do with sports. Someone may ask why they do this. Sports are one of the most profitable industries in the world. Everyone wants to get their hand on a piece of the action. Those individuals and industries that spend hundreds of millions of dollars on these sports teams are hoping to make a profit, but it may be an indirect profit. It could be a profit for the sports club, or it could be a promotion for another organization (i.e. Rupert Murdoch, FOX). The economics involved with sports has drastically changed over the last ten years. In the United States, we spend about 13% of all money on sports and entertainment. Sports has obviously done its job; entertained and drained money out of our pockets. A young boy goes up to his mother and says, "Mommy! I want to be a baseball player!" If this costs, team, sports, revenues, game, profit, organizations, organization, player, per, cost, average, revenue, ratings, nba, million, management, success, sales, salaries, players, media, due, year, tv, travel, teams, jordan, games, although, years, stadium, professional, people, nhl, new, must, making, leagues, league, fans, expenses, each, decrease, approximately, administrative, win, rating, profits, problems, mlb