Monday, October 24, 2011
Response to Economics in Sports Articles
Will posted some great articles with some great information hidden in them. Sports, in cities like Memphis, are a big source of revenue as seen in the article. I can see why the NBA season not happening would hurt Memphis in many aspects. 18 million dollars lost is a lot of money folks. So, is it wrong for the the Memphis Grizzlies to want to sue the NBA and take them to court? No!!! They were guaranteed by the association that they would be guaranteed seasons after seasons of basketball. A city like Memphis cannot take a hit like this to their revenue and to their influx of economic growth. The frustration by the team and their Memphis area fans can by far be understandable. Along with this posted article was the article about the "Occupy the NBA" article. I love the comparison made with how the economics of the NBA is so similar to those of different states that have "Occupy" situations as well! There is also a great comparison between the NBA's billion dollar owners and Wall Street. I love how the article brings up how much these big money players are going to to have to learn from this situation. It is so true how these big name players like Lebron James and Dwayne Wade are going to have to grow a backbone and fight against these big business owners who want to take a large portion of their income away. It truly is like people fighting against big businesses. This same aspect was seen in the recent NFL lockout which lasted for a substantial time period.
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One of the biggest interests I have in the NBA lockout is seeing how many NBA players will go overseas. We have already seen big name NBA players go abroad. Deron Williams an all-star with the New Jersey Nets has signed a $5 million contract with a Turkish club. Although this is a fraction of the $17 million he was slated to earn this year in the NBA, he is still working, and still gaining additional income.
ReplyDeleteWith many NBA role players signing abroad, I am interested to see how many NBA players foreign leagues can support. At a certain point, in addition to foreign player team limits set by leagues, I wonder when the market will reach a point of saturation and can no longer support more NBA players. This will lead players to take less money and go to less desirable locations the longer the lockout lasts.