The Economics of Baseball Essay - 724 Words

The Economics of Baseball The economics of baseball has grown since the beginning and has become more complicated every year. Baseball players are now making millions of dollars to do something that they love and enjoy. Its not their fault the money they can receive has reached the million mark, even for some of the less talent of ball players. This has happened to all sports, but especially to the American pastime. Baseball is more of a business than just a game and many things have made it this way. A lot of reasons have contributed to the rising salaries there is today and it will not stop there. The amount of baseball contracts will keep rising each year. One of the most notable people to receive an unbelievable contract†¦show more content†¦Many people believed he was crazy to spend this much money on one player, but Tom Schieffer stated that Hicks has a good understanding of the economics of sports(Rangers). Alex Rodriguez is just one example of this growing business and many other ball players are getting paid an unreasonable amount. Most teams to take care of this have raised ticket prices. Two-thirds of the thirty teams in MLB have raised the cost of a ticket for the 2001 season. Baseball tickets are the cheapest among professional sports, but theyre catching up(MLB). The average ticket in 2000 was 16.65 dollars, according to Team Marketing Report(MLB). Now, it costs a fan twenty dollars for a bleacher seat at Wrigley Field , 31 dollars to watch the Yankees from the cheap seats, and forty to sit in the grandstands at Fenway Park(MLB). The rise in ticket prices has contributed to the rise in the cost to have a baseball player play for your team. Many teams are coming up with other ways to be able to pay these high-priced athletes without leaving out the normal fan. Several teams have increased premium seating and are offering special packages for people and corporate entertainers, who have money to spend. For example, the L.A. Dodgers have not raised tic ket prices but offer a Dugout Club seat behind home plate for 225 dollars(MLB). MoreShow MoreRelatedThe Economic History of Major League Baseball1903 Words   |  8 Pagesï » ¿Baseball is considered Americas pastime as it is steeped in history and prestige. However, due in part to the emergence of alternative sporting events such as skateboarding, snowboarding and competitive biking, the profits previously garnered within the industry are not growing as fast as they once where. In fact, in many instances, individual player salaries are outpacing the growth of ticket and television revenue. Table 1 within the appendix was constructed by Michael J. Haupert, a professorRead More Major League Baseball Salaries and the Economic Effect Competition and the Consumer4712 Words   |  19 PagesMajor League Baseball Salaries and the Economic Effect Competition and the Consumer As long has there has been business, Management and Labor have warred against each other for a bigger piece of the pie. Major League Baseball is no different. In the early years of professional baseball the owners controlled the salaries of the players and decided where they could play and what they would be paid. The players were bound to their team by the Reserve Clause that stated, the services of a playerRead MoreMax Weber s Theories About Status And Social Stratification1343 Words   |  6 PagesBaseball in the 19th century was both an extracurricular activity and a cathartic activity for American society that suffered from the demands of industrialism. In order to better understand the sociological perspective of baseball in relation to the social context of its’ origination, this paper will consider baseball in the context of Max Weber’s theories about status and social stratification. Although his theories are seemingly similar to Karl Marx, their theories are essentially different. MarxRead MoreThe Playing Days Of Lou Gehrig1068 Words   |  5 PagesPlaying Days of Lou Gehrig Baseball is a poor man’s sport, easy to play and addicting to watch. During the days of Lou Gehrig, whenever there was a baseball game, people usually forgot their worries that day and went to watch their heroes play. 1n 1917, the Americans declared war on Germany. â€Å"Even in America’s ballparks, German immigrants sought to distance themselves from their native land† (Eig, 19). In a world of insecurity caused by the jeopardy of war and an ongoing economic depression, Lou GehrigRead MoreThe Rise and Fall of the Negro Baseball League Essay670 Words   |  3 PagesThe Rise and Fall of the Negro Baseball League For the better part of the 20th century, African American baseball players played under unequal opportunity. On one side of the field, European descendants were given a license to play this childrens game for money and national fame. While on the other side of the field, African slave descendants were also given a license to play - as long as they didnt encroach upon the leagues of the Caucasians. What was left over for African American playerRead MoreBaseball during The Great Depression Essays913 Words   |  4 PagesBaseball remains today one of America’s most popular sports, and furthermore, baseball is one of America’s most successful forms of entertainment. As a result, Baseball is an economic being of its own. However, the sustainability of any professional sport organization depends directly on its economic capabilities. For example, in Baseball, all revenue is a product of the fans reaction to ticket prices, advertisements, television contracts, etc. During the devastating Great Depression in 1929, theRead MoreAmbassadors in Pinstripes Essays826 Words   |  4 PagesReview of Ambassadors in Pinstripes: The Spalding World Baseball Tour and the Birth of the American Empire Thomas Zeiler, the author of Ambassadors in Pinstripes: the Spalding World Baseball Tour and the Birth of the American Empire, entertains and enlightens the reader through a descriptive journey of Albert Spalding’s efforts to introduce a World Baseball Tour. The bulk of Zeiler’s book is based off of periodicals, newspapers, magazines, and guides; which serves as the groundwork for his bookRead MoreBaseball in the Dominican Republic Essay649 Words   |  3 PagesBaseball in the Dominican Republic Baseball was first brought over to the Dominican Republic in the 1870s, when thousands of Cubans came fleeing to the island nation in refuge from the Ten Years War. Along with baseball, Cubans also brought with sugar producing expertise that had made them the largest sugar producer in the Caribbean. Sugar immediately became the Dominican Republics key money-making export, but baseball took a little longer to come around. At the turn of the century, manyRead MoreRelationship Between Players’ Salary and Racial Discrimination in Major League Baseball1335 Words   |  6 Pagesfield. Major League Baseball is one of the professional sports leagues that has a long history about racial discrimination. Relating with this, it is questionable that if racial discrimination affects on players’ salary in MLB. If so, how does racial discrimination affects on the salary and what are the other factors related with racial discrimination that can affect on salary? This question will be discussed and examined throughout the report. First of all, Major League Baseball is one of the bigRead MoreBreaking The Slump : Baseball934 Words   |  4 Pages â€Å"Baseball is America’s pastime, and that record is absolutely huge in the States.† This quote by tennis player Pete Sampras defines the reason Charles Alexander wrote the book Breaking the Slump: Baseball in the Great Depression Era. Alexander has complied a book about what baseball was like during the years when America lived in a time of great poverty and economic troubles. Alexander writes with the aim of writing a chronology of baseball and how it the happenings of the world influenced this