Very recently Real Madrid, a spanish soccer team, spent a world record $372 million on 3 players, both breaking and setting a new world record for the most amount spent on a single player in the process. They had to take out 2 bank loans in order to complete this transaction and are receiving much disdain from the rest of the soccer world; Gianni Rivera, a soccer legend said "Is soccer still a game or a business?". The New York Yankees have the largest payroll in Major League Baseball, paying over $208 million for all the players, Alex Rodriguez earning the most with $33 million. It is surprising that in the middle of an economic depression that some people can still manage to scramble together such portions of money. So the question remains, what is reasonable? Should these people still be paid this amount of money to hit, kick or throw a ball while we have people giving their lives in foreign countries for less money? How much money becomes too much?
Sunday, November 22, 2009
Sports and the Economy, Does this seem right?
Athletes nowadays are becoming more and more like celebrities. They end up in newspapers, are in television adds, and sometimes play roles in movies. They also get paid enormous amounts of money, money that a person could only dream of making. These past couple of years, we have also been experiencing the worst economic depression since the Great Depression back in the 1930's. Jobs have been lost, wages have been cut, and more and more families seem to be falling into poverty. Does this seem right?
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The thing about athletes is that they get paid both directly and indirectly through the fans that watch and support them. They get a percentage from the sports channels that broadcast their games and from the outrageously priced tickets as well as memorabilia and jerseys. Why? Because fans love them and are willing to pay the outrageous ticket prices to see their favorite teams play. Until people stop getting into the game, athletes’ salaries will continue to grow. While I do not agree with using all of the money to win baseball or soccer games, I do believe if the team is able and willing to spend absurd amounts of money on players than that is their prerogative. However, it is important to realize that most of these teams and their players are still giving back to the community like Red Sox do to the Jimmy Fund. I cannot imagine the amounts of money spent on professional sports ever decreasing, I am sure it will only increase more over time.
ReplyDeleteInterests in sports will never decrease and therefore athlete's salaries will also never decrease. Tiernoa is right, as long as people are willing to go see the game and spend money for tickets, it is never going to change. The issue is that as long as the teams have the money to pay the athletes what it says on their contract, then I dont see a problem with it. If they have to take out a loan to pay someone, then that's where a problem comes in.
ReplyDeleteA sports team is a kind of business and always has been. They pay athletes to play on their team. It has been that way ever since the major league was created. They aren't expected just to take money away from their franchise to give to third world countries, they aren't the government trying to give aid, they are a sports team.. As long as they have the money they can do with it what they like. It's the same as an actor or any other type of high paying career. This is their job and instead of being a doctor or lawyer, they have a different talent to share with the world that they get paid for.
In my personal opinion, I think that the amount of money that celebrities get paid is ridiculous. Who really needs $33 million dollars per year to survive? I don't know if in the economy, in which we are living, if it's necessary to pay pro athletes over 10 million a year. I think that money could be put to better use than on there mansions, nice cars, and paychecks. It's just another reason for their head and ego to swell. Don't get me wrong, they have worked hard to get where they are today.
ReplyDeleteSports play such a large role in America, it's on TV's in pubs, bistros, bars, etc. Many people are fans and the athletes thrive off of that. I don't believe that the amount of money that goes in and out of contracts is being considered for charities, third world countries, or towards our extremely large debt with foreign countries. America and the business of sports does not have it's priorities in line. The sad thing is is they probably never will be because it's a constantly growing industry and the want for younger and more fresh athletes is an everyday occurrence.
The amounts of money paid to professional athletes is ridiculously high and unnecessary. I think that professional athletes are very dedicated and work hard at what they do but the amount of money paid to them is extremely excessive. Yes, watching and playing sports is a large part of American society but that does not mean the athlete should be getting paid millions upon millions of dollars every year. In fact, if they were paid less, more Americans could afford to go to professional games and enjoy this pastime because ticket prices wouldn't have to be so high. The thing that bothers me most about their salaries is thinking about where that money could be going, like Jess says, instead of on their mansions and 25 cars. Everywhere you look today, there is a need for money. Why is there so much in the sports industry? I enjoy watching sports as much as the next person but I believe that the amount paid to professional athletes HAS become too much.
ReplyDeleteI agree that athletes get paid a very high amount that should be considered ridiculous. To us, normal human beings trying to make a living, it is. But it seems that to the athletes that money is not an object and the more the merrier. This is not okay. I believe that athletes could use some of their money that is not so necessary to them towards charities and other beneficial ways to our society. Is owning that much money in endorsements and TV interviews and all the other crazy things that they don't need really crucial? I mean, I guess I'm not a famous athlete, but I don't think so.
ReplyDeleteI believe people in sports do deserve to get paid for kicking or throwing a ball. They worked for what they are receiving, but I do believe they are getting overpaid. There should be a limit on how much a player can make but that would never happen. The only positive thing of them receiving a large amount of money, is that most players donate a lot of their money to organizations of all different types.
ReplyDeleteI personally think that athletes get paid a ridiculous money, more money than anyone really needs. However if the teams can afford to pay them that much money, then why shouldn't they. Sports teams are a business, and people are never going to stop loving sports. If these teams can afford to pay these athletes their extremely high salaries without going into debt or taking out loans than it shouldn't really be a problem. I do disapprove of them taking out loans because then it has gone too far. Also most teams have a salary cap which limits the total amount of money they can spend on player's salaries.
ReplyDeleteIt seems strange to know that professional athletes make millions of dollars for playing the sports we play in high school, on the pavement on in the backyard. Yes, sports are physically demanding and professional athletes dedicate their lives to the game; but should they be paid such astronomical amounts? Probably not. But I also think that actors, actresses, singers and heiresses don’t deserve these millions of dollars.
ReplyDeleteI have loved and participated in sports all my life and see some of the validity in professional athletes’ high paychecks. An athlete is just as much of a performer as an actor or singer, with the exception of sacrificing their body. Like mentioned before, sports have become a business. Sports are entertainment. The personal lives of professional athletes are spread amongst the pages of various gossip spewing magazines. Sports fans are engrossed in the players of their favorite teams. Their success is our success. Sports fans and athletes are rooting for the same thing- the win.
As much respect, admiration and love I have for professional athletes, I cannot justify their excessive salaries. However, I do not think we can subject professional athletes to the declining status of the economy. Similar to performers, heirs and heiresses, royalty, Oprah or Bill Gates- these high profile, high income million and billionaires will never be as severely affected by unemployment or wage disputes as the general population. Until we are willing to turn off the TV, stop paying for tickets to the big game or representing our favorite team with a new jersey, these professional athletes will continue to fatten their pockets with a fan’s love.
I think it is extremely unfortunate that athletes are being paid such excessive amounts of money. I would say the same for any celebrities. Sports are only a form of entertainment and as much as we all love watching it, athletes should not be paid millions of dollars. Honestly, no one needs that much money to live each year. I think more money should go to those who benefit others. For example, social workers and teachers barely earn any money when they work hard each day to make better lives for others. I am not saing athletes don't work extremely hard every single day, but sports are not changing anyones lives. Athletes and celebrities will continue to make a lot of money for a long time because people enjoy watching them.
ReplyDeleteThe reason why athletes get paid so much money is because of the fan population. There are many people that complain and always wonder how much is too much and why these athletes get paid so much but it is because of us. If we stopped going to games, prices and salaries would therefore be decreased. I however, do believe they should be paid this much money to do such things. They have worked hard all their lives for this opportunity and they have many risks every day while playing. Injury could occur any day, ruining one of their careers. It is almost essential they get paid this amount because they may not find work after the years they play professional sports.
ReplyDeleteI think athletes earn their living just like every other person in America. They dedicate their lives to their jobs, work extremely hard and love what they do. With that being said, I do not believe that they deserve to be paid as much as they are, especially with the economy the way it is. Athletes that don't even play make more than the average American. There is really no defense that can support athletes making the amount of money that they do. However, as much as american citizens complain about the money these athletes receive, as Chris said above, we are the reason's why they make so much money. Sports and entertainment are the core of our society and we will spend what seems to be endless amounts of money to go to sporting events, meet the athletes, and for sports memorabilia.
ReplyDeleteThe amount of money that athletes recieve is excessive. Making 33 million dollars is enough for a life time not for playing a single season of baseball. The money has to come from somewhere to pay athletes their astronomical salaries and that comes from raising ticket prices, concession stand prices and souveniours as well. By raising prices it directly effects the fans, who almost all of them do not makr 33 million dollars a year and are actually affected by the poor economy. It is unnecessary for stheletes to be paid as much money as they do.
ReplyDeleteAt times, I'm disgusted by professional athletes and the world of major league sports. Look at the Cowboys Stadium constructed back in May. It cost well over $1 billion to make as one of the most expensive stadiums of all time.
ReplyDeleteReally? In the middle of a recession, they're willing to place that much money into the construction of an entertainment center, when it could be put to good use elsewhere?
But as far as athletes go, MLB players are the worst in terms of profit. Still, sports as a whole have become a game of investment. There aren't any loyalties to a team, and certainly few actually play the game because it's intrinsically fun.
We don't even know these athletes as well as we'd like to, case in point Tiger Woods. It's all about building charisma and a cult of personality through Public Relations agency.
I could say that they "earn" they're money, and yet I wouldn't quite say swinging a bat for 162 games is the equivalent of $20 million. The fact is that we exceeded what should have been a reasonable price limit in sports long ago, but so long as we watch them (and I don't plan to stop any time soon), this isn't going away.