1) For a valuable source on sports economics visit http://www.thesportseconomist.com/. This website has the most recent stories that have to do with the business side of sport. This is a good source to catch up on the latest news that is happening in the sport business world.
-Payne, G
2) This web-link (http://www.bizjournals.com/stlouis/stories/2010/04/12/daily1.html) talks about the St. Louis Cardinals baseball team and the opening weekend's effect on the season. It also talks about the season as a whole and the income that is expected throughout the season. The location of where the fans are coming from and where they are spending their money when coming to the game are a couple of the main keys discussed.
-Woelffer, D
3) For a scholarly source on economics, markets, and sports, visit http://www.econlib.org/.
It has articles, blogs, pod casts, books, encyclopedias, and guides to help with economics.
-Petrack, S
4) The article I found on Forbes.com (http://www.forbes.com/2010/04/21/soccer-value-teams-business-sports-soccer-10-intro.html) talks about how even the market of English Premier Soccer has taken a economic hit in the recent economic slump. It gives direct examples of the top market teams and the effect of the downturn.
-Perleberg, M
5) The Web Link I chose to use was sportsbusinessjournal.com (http://www.sportsbusinessdaily.com/article/138581). It takes sports to another step and talks about the business side of things. Whether it be if ticket prices should lower or if new stadiums will make the money they think it will. Also they cover sports and the economy and how they affect each other. It is a good link because it had a lot of different articles about business and sports. The article that I found on this site was about the NCAA basketball tournament and how ESPN said they will not increase their tournament bib, so it is giving other net works the chance to get involved.-Bahm, J
6) This article I found at USAtoday.com (http://www.usatoday.com/money/2006-07-27-sports-econ-usat_x.htm) is important because it provides information on why sports should keep growing. Why sports should keep growing....
-It has stats over a long period of time on race, salary, productivity, financial incentives, and other performances.
- In a work place it’s hard to measure discrimination and productivity but in the sport industry its clear-cut.
- Growth in attendance, salaries, and revenues
Famous economists are extremely interested in the world of sports. This article talks about Alan Greenspan (famous economist) who is interested in this topic as well.
- Podkomorski, L
7) This website I found on the http://www.sportsbusinessjournal.com/ is important in sport economics because it has in depth articles about money and the economy of sports during hard times. Website is very reliable and many people subscribe to this site. A recent article talks about college basketball and their new deal with CBS and the money it will bring in.
- Engibous, T
8) For a great article on March Madness, which is recommended because it has to do with College Basketball and its expansion, go to http://www.cbssports.com/. There is an article about why the NCAA should expand their number of teams from 65 to 68.
-Kromray, J
9) This website (http://www.sportsbusinessdaily.com/index.cfm) is important because it has articles pertaining to current events in sports. For example, it recently had an article about the Kentucky Derby and how the winner of the event, Super Saver, could potentially win the Triple Crown. You should go to this link to find articles about sports because it updates articles daily and it has very well informational.
-Knierim, D
10) I discovered this web site (http://www.econlib.org/library/Enc/Sports.html) that contains information on all aspects of economics including the economics of sport. I feel that this web site would be useful to those interested in sport economics as well as those who are interested in learning more information about economics in general. This site suggests that by looking at the economics of teams within a league it can determine which teams will win and which teams will loose. People should visit this site because it puts sport economics in to a nut-shell, and will help them get a better understanding of how economics in sport works.
-James, A
Weiner, E. (2009, March 12). Sports Economy, is it tanking? Retrieved April 30, 2010, from http://www.examiner.com/x-3926-Business-of-Sports-Examiner~y2009m3d12-Sports-economy-is-it-tanking
Article on Sport Economics
By: Troy Engibous
Article is about finance in sports.
Article goes into detail about contract between Milwaukee Iron and Kodiak Capital Group.
Talks about how much money and over how many years the contract is worth.
Also discusses where all the money is going in the Milwaukee Iron Franchise.
This article is important in sport economics because it deals with the money side of sport and the behind the scene things we don’t get to see all the time.
Talks about how much money and over how many years the contract is worth.
Also discusses where all the money is going in the Milwaukee Iron Franchise.
This article is important in sport economics because it deals with the money side of sport and the behind the scene things we don’t get to see all the time.
Source:
Walker, D. (2010, March 2). Mkeiron.com: News. Retrieved May 02, 2010, from http://www.mkeiron.com/news/index.html?article_id=6
By: Lynn Podkomorski
Economics Professor Seeks U.S. Soccer Model
Econ Prof looks at how you can improve the United States soccer model and how to gain its popularity. Otherwise there is no need for professional soccer in the U.S. Soccer is looked at differently in many different countries. Young soccer player in the US don’t grow up wanting to play for AC Milan, they grow up thinking they will attend a university. With this aspect the US has to look at new ways to improve the professional soccer economy. This is important because if the soccer gains popularity it can help the economy with the revenue that is generated. Otherwise there are ways that soccer can decrease the economy by spending money on professional soccer teams without generating revenue. Therefore they are losing money.
REFERENCE:
Robinson, J. (2006, April 14). New York Times. Economics Professor Seeks U.S. Soccer Model. Retrieved April 30, 2010, from www.nytimes.com/2006/04/14/sports/soccer/14gulati.html/?_r=1
By: John Bahm
By: John Bahm
The article I chose to use was from www.examiner.com. It answers the question if major sports are tanking because of the economy being down. It talks about all four major sports in the U.S. It also covers the economic side and the effect they all have on each other. This is why this article is important and interesting and why others should take the time to read it. It gives thought that major league sports could somehow the economy come back up in some way. It also talks about the World Baseball Classic and how much money was made and how it will be broken down for other countries and what money will go where.
Weiner, E. (2009, March 12). Sports Economy, is it tanking? Retrieved April 30, 2010, from http://www.examiner.com/x-3926-Business-of-Sports-Examiner~y2009m3d12-Sports-economy-is-it-tanking
By: Marcus Perleberg
This article I found on hubpages.com talks very heavily on the increasing salaries of newly drafted rookies. It talks about how the guaranteed money contract that keeps on going up by the year is hurting the NFL. It also keep the proven veterans of the league limited to the amount they can make because of how much the organizations are paying rookies right away. It’s always a gamble giving a rookie millions of dollars before he even steps onto the field, especially knowing how much different the college game is from the professional. What ever happened to the mentality of the players had to earn there money on the field?
"Mission Statement NFL Salary Cap: Rookie Pay Scale Part B." HubPages. shwtmgq, n.d. Web. 3 May 2010. http://hubpages.com/hub/Mission-Statement-NFL-Salary-Cap-Rookie-Pay-Scale
Garrett Payne
For a valuable source on international leagues visit http://www.volleyballmag.com/archive/2009/AdventureCapitalists.php this article talks about the economic impact of international volleyball leagues and the implications with foreign players. International leagues helps the popularity of volleyball, with the introduction of leagues across the world is making a bigger market for volleyball. Individual teams now have more choices of where to get players from, which are making volleyball more of a moneymaker. The article also touches on the issue of players having to return to there home country and play for there national team. Coaches are having trouble getting players to return to play on the national team. Players don’t get paid a lot to play on the national team so players rather stay and play in the international league where they get paid good money .
Wojciachowski, J. (2011, March 2). Volleyball Magazine -> Adventure Capitalists. Volleyball Magazine . Retrieved May 7, 2010, from http://www.volleyballmag.com/archive
Mark Frankland
my favourite article for the sports econ blog, is as follows:
it related to how much revenue wwe made from wrestlemania 26. it states how much money is earned by the single event which is a massive $32 million. the topic it relates to opportunity cost as it shows how the choices made by the wwe contribute to the massive money the event makes. my opinion is that the WWE evaluate areas massively and with the prestigue of the main event ( wrestlemanina) it makes the most the event. i would suggest going to the link as it demonstrates that not just the major sports such as NFL, MLB and NBA make massive amounts of money. It demonstrates how wrestling is a major contributer in the sports and entertainment business.
Jessica Kromray
I chose to talk about the NCAA's economic impact on the cities it's located in.
Summary: Basically this draws a ton of local and non local people. It's something that is so fun for people to go attend and watch. Over all- they come to that tourney and eat. They eat at restaurants, at the gymnasium, etc so those places all make major profits. Also, hotels get lots of service because the non locals need somewhere to stay. Gas stations get a lot of service bc people have to fill up to get around and to get home. People purchase merchandise at the Tournament and souvenirs. Overall it's a very good economic impact for the city where they tournament is hosted, whether that be the Sweet 16 or the National Championship game.
Why you should read this: If you are interested in how much revenue or the economic impact the NCAA MARCH MADNESS TOURNEY brings in, then this is a good article to read up on.
Derek Woelffer
This article is one of my favorites because I am a huge Lakers fan and it has to do with the NBA Championship. Although the article talks about how the city doesn't have enough money to fund the Championship Parade, that still means they won the Championship. The city couldn't find the money to pay for all the security, clean up crews, and pay all the drivers and other floats. In the end, the Lakers did get enough money to put on a spectacular parade, but it was a major concern for a short while about what to do because the Lakers earned the parade and without a proper parade the city risked rioting to celebrate instead of the parade.
Shannon Petrack
Although sailing is not considered a major sport to many people, it is, however, very popular. I found an article off of CNN’s sailing section on its sport page. The article talks about a new yacht that is being built. This no ordinary yacht; it is a super yacht. It will be the length of two football fields, and is going to cost up to $900 million. The article relates to the economy because it discusses how the very rich and elite are still going out and spending the money, and they will go out on this yacht, despite the economic struggles. The rich are still spending, and they will continue to.
For this article, go to http://money.cnn.com/2010/02/02/news/economy/biggest_mega_yacht_concept/index.htm
Sean Hughes
Article: http://www.sportbusiness.com/news/174045/red-knights-to-bid-125bn-for-manchester-united-by-june
I chose this article because it pertains to the team that I am a fan of. This article is of personal interest to me as there is an ongoing battle off the field by the supporters of Manchester United to regain control of their beloved football club.
At the moment the Glazer family who also own the Tampa Bay Buccaneers own the franchise of Manchester United. They are using the global status and financial success of Manchester United to currently pay off their debts elsewhere, and they have increased ticket costs as a means of generating more money.
The article suggests that a local consortium will purchase the organization from the Glazer family later this year. It will take an estimated $1.8 billion to regain control of the most valuable sports team in the world across any sport, but it would allow for the organization to finally be back in the hands of those who have Manchester United’s best interests at heart.
This link is a quick overview to events and states the expected date of the transaction to be completed.
Nicholas Moraza
This is an article that I found to be very interesting because it was about the NCAA Men’s Wrestling Championships. I was a wrestler for most of my life and have always had a love for the sport. I never knew if the sport of wrestling actually generated money because it is not a very popular sport compared to the four other power sports (Football, Baseball, Basketball, and Hockey). When looking at this article I realized that by having the championships in Philadelphia, and wrestling being a huge sport in the east, meaning that there is going to be a huge following for this event equals a lot of money. The Philadelphia Sports Congress, a division of the Philadelphia Convention & Visitors Bureau. "This will be a major three-day event for the City of Philadelphia with attendance levels expected to approach 90,000, a total of 10,000 hotel room nights and $10-$15 million in economic impact." This is a term that and concept that we talked a lot about in class. The economic impact that an event has on a city can change a lot of things for a city. By having the NCAA Men’s Wrestling Championships in Philadelphia will prove to be a huge gain for the city. The event will be producing jobs, surrounding businesses will see a jump in business with all of the new people from around the nation to come cheer their schools to victory, and with it being a three day tournament should see a steady flow of consumers around the city. This is a good link because it is a great example of a sport that is not real looked at as a dominate sport in the world of entertainment, but this article proves that it will still be making an impact on the cities that are picked to host the tournament.
Ben Allen
For a great scholarly article on the impact of sports events and stadiums on cities we recommend that you look on the website: http://rptsweb.tamu.edu/faculty/Crompton/Crompton/Articles/3.7.pdf
Demand and supply is a key concept, this is the definition:
Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, price will function to equalize the quantity demanded by consumers, and the quantity supplied by producers, resulting in an economic equilibrium of price and quantity.
I recommend this video because it shows and tells us about the amount of money which is put into companies and other franchises which are located within the city. Even companies outside of that city will benefit from events and stadiums. It gives a good demonstration on how the impact is the same throughout the world and also tells us about what it has done for governments and local federation agencies in that area.
YOU GUYS ROCKED THIS - I'M SO PROUD! CORI
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