Higher Rock Education - Economics Blog

Wednesday, July 13, 2016

I confess. I am a sports nut. I love everything about sports - playing and watching. I am not alone. Below are several facts that illustrate how much our world is obsessed with sports.

1. What is the most valued sports franchise in the world? – Dallas Cowboys $4 Billion
According to an analysis by Forbes magazine, the Dallas Cowboys recently surpassed Real Madrid and became the most valued sports franchise. It estimated the Cowboy's value at $3.26 billion.

Telegraph - Most Valued Franchises


2. What were the National College Athletic Association's (NCAA) revenues in 2015? - $1 Billion By the way, the NCAA is a non-profit organization. It redistributes most of its revenues back to the member universities.

MoneyNation - How Much Money Does the NCAA Make?


3. What were the National Football League's (NFL) 2016 revenues? - $7.1 Billion This figure is based on a Bloomberg analysis after Green Bay released its financials.
Bloomberg - NFL Revenues


4. Who was the highest paid athlete in 2016? – Christiano Rinaldo - $88 Million
Lionel Messi ranked 2nd with $81.4 Million. Both are soccer stars. Read the attached Forbes article for an analysis of the compensation of other sports stars.
Forbes - List of Highest Paid Athletes


5. What was total Revenue of Premier League in 2015? – ₤3.1 Billion For a team by team analysis of the revenues and wages to teams in England's Premier League, read the article in the Daily Mail.

Daily Mail - Financial Health of Teams in the Premier League


6. Which University had the largest University athletic budget in the US in 2014 – 2015? – Texas $173 Million The table in the USA Today article provides the revenues and expenses of the largest universities in the United States.

USA Today - NCAA Finances

Why does society spend so much on sports? A simple understanding of supply and demand answers that question. Our obsessions (demand) continue to increase and along with it ticket prices and salaries. Let's face it, my (our) obsession with sports is idolatry. Idols take us away from God. It is true. I watch too much sports on TV which takes time away from my family. I attend too many sporting events, which prevents me from serving others. I spend too much money on tickets, clothing, and other items. Money I could donate to a more worthy cause. I am not alone - the sited facts prove that!

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