The Sport’s Economist
Given today’s headlines, as well as those headlines since the sub-prime mortgage crisis in 2007, it is hard to believe that any industry would be sheltered from today’s economic turmoils. The sports industry is NOT an exception. As Darren Heitner on SportsAgentBlog.com points out:
Sports Agencies have been linked to an alleged $8bn fraud. Players have had their bank account’s frozen. Owner’s worry about ticket sales. Leagues are making lay-offs and commissioners are taking pay cuts. David Beck at the NY Times stated,
The nation’s economy is buckling. Too many teams are losing money. League revenue is flat, and the salary cap is about to shrink for only the second time in its history.
Perhaps one solution for the economic troubles of today is to build? Portland, Oregon has considered making “[a]n investment in more than sports.” The Metropolitan Sports Facilities Commission has also considered creating more jobs. This may be a solution for a few cities in need of new stadiums, but undoubtedly more solutions need to be proposed.