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.
I never thought about this before but it really makes sense, more hype over an event will bring in more money and benefit all involved parties.
ReplyDeleteRivalry games are a big deal to fans of any sport. I never thought about the impact that it had on the economy though. Very interesting article that you chose Ty.
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