by Brendan Mcdevitt and Nick Moraza
Garret Payne
The Economic Impact of the NBA All-star Game
The city of Phoenix has raked in literally millions of dollars because of one event that took place. The new multi-million dollar projects to an international audience. These have direct benefits on the economy. The Phoenix one-way boarding train’s number of riders increase by 10,000 during All-star events. This is a stimulus to the local economy. With the economy the way it is in the United States currently, little stimulations such as All-star weekend can do their part to help in the big picture of the US’s economic refuel. The city of Las Vegas, the host city in 2008, estimated to have generated $91 million in revenue from hosting the event. With the most recent up and coming All-Star game being held at the new Cowboys stadium in Dallas, expected revenue is said to be a sell-out. There are 80,000 seats in the stadium with tickets ranges $25-500. There will be a lot of money earned that day.
For more read the article at:
Shannon Petrack
NASCAR
NASCAR has been around for many years. People across the USA enjoy the cars and the new styles that are constantly produced. The races are always entertainment for many people. They are still continuing despite the down turn of the economy. Americans have a love for automobiles, so the races won’t stop. Today, companies like Chrysler, Ford, and GM continue to support races, but with certain budget cuts. NASCAR has been in the process of starting a new series of cars to get for drivers, thus making fans want to buy the cars, too. For more read the article at:
Lynn Podkomorski
Indianapolis 500
This article is about the how the Indianapolis 500 affected the economy. The Indianapolis creates one of the largest revenues in all sport. It gains 336 million dollars annually compared to the super bowls of only 213 million dollars. There is about 400,000 spectators. The state of Indiana receives 25 million and the government gets 10 million. This gains the local economy even when our economy is down. This is a very positive event and helps improve the local economy
For more read the article at:
http://www.theautochannel.com/news/2001/04/12/018515.html
Sean Hughes
Super Bowl 2010: was this a bust for Miami?
The impact of the Super Bowl financially since it was hosted in 1970 in New Orleans has increased dramatically in many ways. In 1970 New Orleans benefitted from hosting the event and the city saw an income of $18,748,259. In contrast to this in 2010 the city of Miami was estimated an income of $300,000,000. This shows how the commercial aspect of sport has affected hosting the event and the benefits this can have for the infrastructure and job creation for the residents of the host city. The event doesn’t only affect the host city for the individual event, but it highlights what the host city has to offer and can improve the profile of the city for visiting tourists for years to come.
This link shows how the revenue a host city can generate has increased dramatically and it also states the increasing amount of people watching the Super Bowl on television and what effect this has on advertisements, which since 1989 have quadrupled in price.The link gives good statistics and offers a quick insight into the benefits of hosting the Super Bowl.
For more read the article at:
www.bnet.com/2403-13056_23-390131.html
Mark Frankland
World Cup 2010
The economic impact of the event is that it will make 21.3 billion RA and will generate an estimated 159,000 new jobs. This shows how important the event is to the country of South Africa; a massive event such as the world cup or the Olympics creates jobs and makes massive amounts of money. This isn’t including money made from TV and radio rights.
The summary of this article is that major events clearly help improve the economy in certain areas, ranging from the Olympics at Montréal, or wrestle mania in Arizona. All help create jobs and bring money to the areas because of hotels, restaurants and even jobs.I would like to read the article, because it shows how much money can be made of a single 4 week event.
For more read the article at:
www.southafrica.info/2010/2010-economy.htm
Derek Woelffer
Stanley Cup Finals
The Stanley Cup Finals usually has a mediocre impact economically for an entire city. The 2008 Stanley Cup reportedly brought in around $30 million for the city between the playoffs and Stanley Cup Finals. Although $30 million is a lot of money, the impact for this specific city in this series was marginal. Most of the fans were from the area, decreasing the actual economic impact because it is all inside money just changing hands. This link gives great insight about how just because a major event is in your city, doesn’t mean your city is going to hit the jackpot for the economy. Events need to attract people from a distance to have the best possible economic outcome. Daniel Knierim
The Masters
My major sporting event was golf and I mainly talked about the upcoming masters. It was huge for the economy because of the number of people who attended to see Tiger Woods debut from a long absence. I found that the masters is the most important PGA event and is one of 4 majors. It is held in Augusta, Georgia every year and at the same course. The winner of this event also gets the coveted Green Jacket.
McWilliams, K. (2010, April 7). PGA and Masters ticket sales stabilize slightly higher as Tiger Woods returns to golf TicketNews . TicketNews . Retrieved May 6, 2010, from
For more read the article at:
http://www.ticketnews.com/PGA-and-The%20Masters-ticket-sales-stabilize-slightly-higher-as-Tiger-Woods-returns-to-golf41076394
Marcus Perlberg:
NHL – Buffalo Sabers
This article that I received was showing the impact of the Buffalo Sabers has on its local area. It gives you all different numbers pertaining to what the franchise brings into its local businesses. The article correlates the importance of how successful the Sabers to how much money it actually brings in. You should visit this site if you want to learn more about how a team’s success determines the impact of the franchise, as well as its surrounding area.For more read the article at:
www.osc.state.ny.us/press/releases/feb03/22503report.htm
John Bahm
UFC
Ultimate Fighting Championships (UFC) is a new up and coming sport. It no barriers in affect for how big it can get and every city that host a major UFC event has economic gains from it. These gains can be revenue for the town or jobs for people is the surrounding areas. Also all the income the UFC generates not just on ticket sales to their events but the money they get for sponsors, television rights, and all the merchandise they sell. It is said that UFC has almost surpassed boxing in popularity, in my opinion it already has it is more entertaining to me and it makes more money. I think that over time UFC will be just as popular and the four major sports are now. Even with the tough economy the UFC still finds ways to grow and make money.
For more read the articles at:
Knightly, A. (2005, July 05). Ultimate Fighting Championship: Homegrown mixed martial arts league becomes major tourist draw. Retrieved March 4, 2010, from www.lvrj.com/business/49971787.html
MMAFACTS/infor about the sport of mixed martial arts. (n.d.). Retrieved February 21, 2010, from www.mmafacts.com/main.cfm?s=mma&actionld=globalshowsta.
Studies: MMA Provides Economic Boon for Host Stadiums and Cities. (n.d.). Retrieved March 4, 2010, from http://www.mmafacts.com/main.cfmactionId=globalShowStaticContent&screenKey=cmpState&s=mma
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