We can fairly say that the sport we have right now is not as same as what is the sport before like during those Ancient Olympic times or those of medieval part. It slowly transitioned into new form of sociological aspect from being an original entertainment to industry of might and pride to money generating industry as we have it today. Not like before where society and nations used sports as boundary breaker or perhaps a new way to unify all nations at one time. Now, the sports we have and we have known, was for merely both entertainment and pride or honor but most of the time it is used as business opportunities to some people.
Well, one side of it.
Definitely sports is a business venture which some of the revenues are actually insane when you actually hear the figures that are involved, for example if we consider the money generated from football alone it is enough to actually increase the GDP rate of some nation, south africa hosted the world cup in 2010 and after hosting this world cup it was reported that they generated a massive income of 4.3 billion RAND, so apart from the fact that sports is a game and entertainment it is actually one of the best way for some countries to generate fund for their countries and develop their nation, that is why when you see sports like golf some countries spend the whole lot of money in building golf courses all over their nation some even go as far as houston marathon events with massive reward because sport alone has unlimited ways which it generate money.
Take a look at the money that is being used to transfer players from one club to another when you look at club football this is because this football clubs generate money from things like sponsorship deal partnership with companies and brands in order to promote each other and we are talking about millions of dollars involved when it comes to stadium and ticket fees I heard that a football club called arsenal fc in england charges close to $75 in order to see just a single 95 minutes football match , now if you multiply that with 47000 people that is watching a football match were definitely talking about millions of dollars here so sports for me is 50% business and 50% game and entertainment.
Now if you look at electronic sports and sports gaming platforms where people bet and make money this is another way that spot has been monetized, for example people can bet all matches like mayweather vs any other lightweight boxer and the outcome of the match will determine a lot of money or a lot of laws for people who are into betting and gaming platform so people are now finding a way to monetize sports the more and decentralized it. So in essence sports is about the phone and the intrigue but at the same time it is the motivation that comes with it that is called the money that is why you see rich billionaires like abrahamovic investing in clubs like chelsea because in the long run they will reap from their investments so the 21st century has seen spot becoming majorly business rather than even the game
Sport is a massive business and it is about entertaining. Over the last 10 years certain sports have had a massive injection of funds.
If we look at football in England we can see the TV rights paid by Sky is massive. The incentives for teams to stay in the premier league is now more essential than ever. Pay per view has taken what clubs were earning before and quadrupled it.
One has just to look at the prize money and television rights for one season to realize the numbers involved. This doesn't include the clubs own sponsors for jerseys etc and their fans purchasing tickets.
Last season Manchester City received just under 150 Million pounds for winning the league and the bottom team West Bromwich Albion received around 95 million pounds. If we compare these figures to the season 4 years ago that is an increase of 71 %. I don't know where these earnings will stop as it is all about demand and these should carry on rising for the coming years.
We just have to look at the electronic sports which is growing in popularity around the world with tournaments having prize money in the millions of dollars today. This could quite easily be the number one sport in the years to come.
Entertainment has become big business and as long as people are willing to pay then sport will just become even bigger. It is just a case of supply and demand and there is a lot of demand right now.
Sports is a type of business. The modern day Roman battle.
TV broadcast and loyalties
The two most popular sports that are usually broadcasted through out the world are basketball and football which are usually seen throughout the world. The more higher the viewership of the show, the more the TV stations need to pay for those broadcast. Imagine just having those shots of the match and game cost money to make.
The tickets that are generated to watch star athletes play are enormous.. Just like those of may whetherfield ( I fogot how to spell his name). Even if he lost one day, he is still clearly the winner. One match yields him more than 30 million. I don't think any average Joe could even make that in ten life times.
Many atheles are also endorsed by companies and attire company like Nike, addidas and many other sports companies would be usually paid in the millions in terms of merchandise.
Micheal Jordan continues to be one of the most bankable players. His image is still so strong and
Sports - any sports nowadays which is bettable and there are millions to be made when people make bets for which team to win in a sports match. Fifa world cup saw many casualties.. Some people bet big and lost everything.
In some parts, it is athleticism and agood way for fitness. But for the most part, it is a huge business. Imagine the millions of dollars paid to A-List athletes, that means the teams are earning a lot for gaining such players. Sponsorship deals, TV broadcasts, ticket sales, etc. were sources of income. It also includes merchandises, endorsements, or pay per views. Thus, sports is a big industry.
Yes, sport is a business to many people. Both for many of the participants and to many viewers/fans. Professional players are earning a lot of money, clubs can buy players, and there is a thing called sports betting, which is used by viewers/fans or even some other people, who just like to try their luck by predicting which team or player will win a match, depending on the type of the sport.
There is also a thing called "eSports", which is "electronic sports". The most common eSport games are Dota 2, League of Legends, Heroes of the Storm, Counter-Strike. Professional players in eSports can also earn a lot of money.
That was actually the opposite of what major league baseball was after a very ridiculous ruling back in the 1920's in a national antitrust case overseen by chief just Oliver Wendell Holmes. Their ruling was that baseball was a sport, not a business, so it was not subject to antitrust/monopolistic regulation. Which allowed baseball teams to literally own the rights of anyone that they signed to a yearly contract or have the rights of that player's service be traded to another team. There was no free agency or player's right to refusal to any kind of trade until the Curt Flood case back in the early 1970s litigated by baseball's most legendary legal champion attorney Marvin Miller. Curt Flood was traded to Philadelphia, had spent his previous decade playing in the St. Louis Cardinals organization and did not want to have to move to Philadelphia due to their allegedly racist culture in the past (refer to the movie '42' about Jackie Robinson and his ugly scene with manager Ben Chapman of the Phillies during his rookie year in 1947). Flood won the case for the player's union, and free agency, salary arbitration, 10/5 player veto rights, right to refuse minor league assignment, player service time benefits and much more became of it. There is a joke looking back at it in hindsight "If baseball is not a business but a sport, then Google is a sport." Sports are definitely a business when any money exchanges hands and it is not mandated to be solely amateur--up next for the sports world to get a dose of that reality that major league baseball got over 50 years ago in the Curt Flood Antitrust Case overturning the abominable "Reserve clause"...the NCAA.