The economy of sport


The underlying phenomenon behind this process is the continuous reduction of working time during the 20th century and the simultaneous increase in free time which in high-income clubs is dedicated in part more and more relevant to direct sport or to the passive use – direct or through television – of sports shows. Such a platform to view your favorite broadcast is 먹튀폴리스. This new sector of activity has been the subject of ever-greater monetary investments, so that in a long journey that runs throughout the century, the relationship between sport and economy has become increasingly close, to the point of predicting that almost all sporting activity will be in future organized according to market rules, despite the constant tensions between the symbolic and social aspects that it preserves and the constraints dictated by the strict requirements of the financial statements.

It is known that many modern sports originated several centuries ago, but their regulatory formalization occurred between the mid and late 19th century. Immediately afterward, the international institutions that still govern sporting activities arose, but their economic importance grew later, with the development of the mass media: newspapers, broadcasts, first only radio, then television and now via the internet.

It is now common sense that sport has taken on a progressively increasing economic dimension in the economies of developed countries since, at the end of the 1960s, first in the United States and subsequently in European countries, it was increasingly structured following profit criteria, through managerial organizations, and by extending the market logic to activities previously set according to completely different criteria.

Normally when it comes to sports economics it is natural to think of the great elite sport – the Olympics, the Champions League, the major leagues of the football leagues of the European countries, the Formula 1 championship, the US professional leagues – and television rights paid to broadcast such events. The figures paid for the transfer of the most important and famous players, and their annual wages, immediately come to mind. In reality, from an economic point of view, elite sport represents only the tip of the iceberg with a much wider base, represented by economic activities related to semi-professional sport and above all to amateur activity. In this way, the sports economy is rightfully part of the wider leisure economy, per capita. Tables 1 and 2 confirm the importance of sport for some sectors of the English economy.

There are therefore two definitions of sports economics: the first, more restricted, delimits the field of investigation to the economic effects of great professional sport and great events; the second also includes the indirect effects of sports, such as the induced purchase of sports clothing and equipment, sports tourism, the purchase of sports newspapers and publications. You can view online sports broadcast at 먹튀폴리스.

To see how all the economic analysis of the sports phenomenon is accomplished by applying the traditional tools of neoclassical microeconomic theory that is, the tools of analysis extend the demand and supply of an asset to the demand and supply of the ‘sports product’.


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