How Much Is a Sports Rivalry Worth?
Most people, including me, think of rivalries in sports as a great game to watch with much excitement. That's the main thing most people think of when they hear a sports rivalry. No regular fan ever thinks of the economics of a sports rivalry, and I don't blame them. One of the biggest things a team can do to ensure its economic health, is to have a good rivalry. It may sound ridiculous, but it's true. If you look at the most valuable MLB teams according to Forbes, the top three teams all have a heated rivalry with another team. The Yankees have the Red Sox, the Dodgers have the Giants, and the Cubs have the Cardinals. Another great example of the economic value of sports rivalries is college football. On the weekend of a game between the University of Idaho and Boise State, the game brought $1 million to the Moscow, Idaho economy.
I enjoy a great sports rivalry. A great rivalry consists of teams that are always usually pretty good, so you can always expect a close, hard fought game. I love that rivalries have huge economic value. It only encourages more and more rivalries to be created. Knowing the economic value of a huge rivalry, the NFL or MLB might switch the divisions of teams so that teams closer to each other can be in the same division so there is more of a rivalry. In my opinion, that would be great for every sport and it makes everybody in the situation happy, unless of course the rivalries are left unregulated. If that happens, then the rivalries can get a little overboard and actually do more damage than good. Most times though, sports rivalries are kept regulated and everybody comes out on top in my opinion. The fans are happier because they are seeing better and more exciting games. The teams are happier because athletes always love playing against rivals, and it is better for the economic value of the team. Even the city is happy because the rivalry brings a boost in earnings for businesses during that game or series.
Thursday, September 18, 2014
The NFL's Most Valuable Teams - forbes.com
The NFL's Most Valuable Teams
The article from forbes.com does not really have anything to do with the things we have talked about in class so far, but I chose it because it was about football. The article includes a list of all the 32 NFL teams in order from most valuable to least valuable, and it also talks about how the NFL has the highest average team value among all other sports.
I find it incredible how much NFL teams are worth. The most valuable team is the Dallas Cowboys at $3.2 billion and the average NFL team is worth $1.43 billion. That is crazy! The even crazier thing is that average value keeps rising. At $1.43 billion, it is the highest it has been since Forbes started tracking professional football team finances, and it is also 23% more than a year ago. I believe the NFL keeps getting more and more popular each year, and that is why the value of teams keeps increasing.
While this increase in value is tremendous for the owners of NFL teams, I'm not sure if it is good for our overall economy. Personally I think it is ridiculous how much professional athletes get paid. Maybe if professional athletes were paid less, our economy would be a lot better and we could fix some other problems. We could put more money towards public education or anything that needs some help.
With all of the new news in the NFL with Ray Rice and Adrian Peterson, I wonder if that will cause the NFL to lose some fans and cause the value of teams to go down. A lot of fans really dislike Roger Goodell and wish he would be fired. If Roger Goodell does not handle the Ray Rice and Adrian Peterson incidents well, that could cause many fans to get angry and maybe even cause them to stop watching football. If that's the case, maybe the average NFL team value will decrease when next year's results come out, which would be something out of the ordinary. I guess we'll have to see how things turn out in the near future and then check the average NFL team value next year.
The article from forbes.com does not really have anything to do with the things we have talked about in class so far, but I chose it because it was about football. The article includes a list of all the 32 NFL teams in order from most valuable to least valuable, and it also talks about how the NFL has the highest average team value among all other sports.
I find it incredible how much NFL teams are worth. The most valuable team is the Dallas Cowboys at $3.2 billion and the average NFL team is worth $1.43 billion. That is crazy! The even crazier thing is that average value keeps rising. At $1.43 billion, it is the highest it has been since Forbes started tracking professional football team finances, and it is also 23% more than a year ago. I believe the NFL keeps getting more and more popular each year, and that is why the value of teams keeps increasing.
While this increase in value is tremendous for the owners of NFL teams, I'm not sure if it is good for our overall economy. Personally I think it is ridiculous how much professional athletes get paid. Maybe if professional athletes were paid less, our economy would be a lot better and we could fix some other problems. We could put more money towards public education or anything that needs some help.
With all of the new news in the NFL with Ray Rice and Adrian Peterson, I wonder if that will cause the NFL to lose some fans and cause the value of teams to go down. A lot of fans really dislike Roger Goodell and wish he would be fired. If Roger Goodell does not handle the Ray Rice and Adrian Peterson incidents well, that could cause many fans to get angry and maybe even cause them to stop watching football. If that's the case, maybe the average NFL team value will decrease when next year's results come out, which would be something out of the ordinary. I guess we'll have to see how things turn out in the near future and then check the average NFL team value next year.
Subscribe to:
Comments (Atom)