Professional sports teams in North America are privately held corporations. Consequently, they are not required to make audited financial statements publicly available. We use a hedonic price model to analyze transaction prices for professional sports teams from 1969 to 2006. Results indicate that franchise age, facility ownership, number of local competitors, and metropolitan population all have significant hedonic prices. A quality-adjusted price index based on these results indicates the average annual increase in prices over the period exceeded 15%. Long-term sports team owners have experienced significant capital appreciation over the past 40 years, an outcome inconsistent with operating losses.
E/The Environmental Magazine Dear EarthTalk: What's being done to "green up" professional sports? I know that the last two Olympic Games both made some effort, but are there others? - Rob Avandic, Chicago, Ill.
The application of conventional economic theory to professional sports in terms of free agency, revenue sharing and the payroll cap are examined. Unrestricted free agency has allowed professional baseball clubs to retain firm identity while the league retained competitive balance. Elasticity conditioned the impact of revenue shares on such balance. The payroll cap is viewed as a cost-sharing collusion that has made professional basketball maximize league revenues.
Competitive balance is highly desired in professional sports leagues, yet measurement of the concept is not well established. The definition of firm/team goals in a professional sports league and its connection with competitive balance has typically been assumed rather than studied. Using fan welfare as the goal of the firm, the current research attempts to link competitive balance with fan welfare through the use of what is termed the "hope" construct. A market survey of 367 individuals in a Major League Baseball market empirically supports the use of the hope construct in competitive balance. Suggestions for future research are presented.
Recent evidence suggests the NHL gets a bad rap for firing coaches faster than other professional sports leagues. The NBA, for example, has topped the NHL's seven in-season coaching changes with nine of its own, and no fewer than 11 NFL teams -- more than a third of the league - have changed coaches since the beginning of the 2008 season (though a few of those were planned retirements).
The Supreme Court is scheduled to hear a case Wednesday that legal experts say could bring sweeping changes to some of America's most profitable groups of businesses: professional sports leagues. American Needle, an Illinois apparel maker, is suing the National Football League, claiming it violated antitrust law by making a deal that gives Reebok the exclusive right to sell all team-labeled and league-logoed clothing and uniforms in every venue - even the head coaches' sideline apparel.
While the average sports fan is tightening his belt amid global financial turmoil, professional sports leagues still seem to be living large. The NFL has smashed its paid attendance record in each of the past five seasons. Major League Baseball grossed more than $6 billion this year. The NHL reported a 9 percent growth in revenue last year.
The national perception of the Grizzlies continues to change. ESPN the Magazine recently released its ninth annual Ultimate Standings, and the Griz ranked ninth among 122 teams in the major four professional sports leagues in North America.
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