Posted by: coastcontact | May 28, 2015

Sports and Money

Underinflated footballs, drugs, bribery and kickbacks. It’s all part of the sports world.

From World Cup venue picks to draws, international soccer has been surrounded by rumors of alleged kickbacks. Whispers around world soccer and kickbacks now scream from headlines. The media has told us what we already suspected. Finally the U.S. Justice department has filed charges against at least nine top ranking officials and they say this is just the beginning.

Consider the annual Tour de France. Lance Edward Armstrong is the American former professional who previously held seven consecutive Tour de France titles from 1999 to 2005, but was stripped of his titles in 2012 after a protracted doping scandal. Most of us did not care. Maybe we do care. After all Armstrong’s interviews with Oprah Winfrey drew a considerable number of viewers.

Like most high-profile team sports, football and Baseball suffers from recreational drug use. Why do they do it?

The National Football League announced that ESPN had operating income of $1.6 billion in 2013. NBC, CBS, and Fox News all have their own sports channels. ABC owns ESPN.

Football players are likely to be impacted for the rest of their lives from brain injuries. The do make millions of dollars while they are playing.

A football team moving to Los Angeles is all about the best financial deal the club owners can make. Now a bigger and better stadium translates into a move. St. Louis, Oakland, and San Diego are all working on their teams to stay by offering financial incentives and new stadiums.

The most expensive part of pay television is the sport channel fees paid by the providers to the various professional leagues.

What is all of this about? MONEY!

We pay for it but we don’t care. The people who run all of those professional sports teams, college teams and all the other sport events that are broadcast on television are earning millions of dollars. We love the excitement and they love the money.

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