Introduction: Throughout the late 20th century and the early 21st century, we have experienced the rapid commercialization of sports. A striking example was the recent IPL auction, where Rishabh Pant was sold to the Lucknow Super Giants for 27 crore ($3,122,490.09). Baseball has seen a similar financial boom, which can be attributed to its rapid increase in net worth. The Major League Baseball (MLB), founded in … Continue reading The Economics of MLB
The world of professional golf has witnessed a seismic shift in recent years, marked by the emergence of LIV Golf—a breakaway professional golf league funded by Saudi Arabia’s Public Investment Fund (PIF). Initially called the ‘Premier Golf League’ in 2021, the name was later changed to LIV, 54 in Roman Numerals, signifying the number of holes played at each tournament: a shorter, seemingly easier to … Continue reading LIV Golf
Sports. We all love them – whether we are watching them, playing them or shouting at the TV like we can do any better. While most of us focus on the action itself, we often ignore the huge economic impact it has on the world. Obviously, the players are well compensated, with the ten highest-paid athletes in 2024 raking in a cumulative 1.38 billion USD. … Continue reading The Economics of Sport
On 26th July, Paris will welcome 14,000 athletes from 206 countries, 9 million audience members and 4 billion television spectators to join the Olympic Opening Ceremony. French President Emmanuel Macron has articulated a vision for a “wide open” Games designed to spread opportunities and maximise the benefits for the long-term unemployed, small businesses and deprived communities. In his new year’s address Macron predicted the “Paris 2024 … Continue reading Paris Olympics and the French Economy
Sports leagues across the world are structured into several different forms, with one of the most notable being leagues with a draft. Predominantly found in the US, draft leagues involve the selection of up and coming university players by professional teams once a year. The team who finished last in the previous year is given the first pick from the player pool and thus end … Continue reading To what extent are drafted sports leagues fair?
“EA Sports… it’s in the game.” You may recognise that iconic line which is heard as you reload FIFA – perhaps after a frustrating rage quit from a difficult round of FUT Champs! Since its kickoff in 1993, FIFA has firmly established itself as a global sports gaming sensation. Whether you’re a devoted football fan, a casual player, or someone uninterested in the sport, you … Continue reading Gaming Economics: FIFA
In November 2022 the Glazers finally announced the potential sale of Manchester United Football Club. A year later, has much changed? What is the issue? The Glazer family bought Manchester United Football Club in 2005 for £790m. The club is now valued at approximately £4.8bn, with the family having profited greatly by paying themselves dividends worth a whopping ~£20m per year from 2015-2022, the only … Continue reading Are the Glazers finally going?
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