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Revenue sharing is a factor that affects the management of professional sports. It is often used in sports as a way to improve competitive balance among member organizations despite varying economic conditions and market capacities. Every league acknowledges that the purpose of revenue sharing is to allow a closer range of payroll spending that might otherwise not be accomplished, preventing large market teams from controlling the allocation of high-priced free agents (Kesenne, 2006). Television rights and licensing agreements play a huge role in revenue sharing. The National Football League and CBS created a revenue sharing model that included televising all regular season games for an annual fee of $4.65 million and by 2014 the NFL earned a share of $4.9 billion (Stone, 2015). Often times, the media exploits financial figures that are included within the revenue sharing agreement. The National Football League teams share more than sixty one percent of total revenues generated by the league which lends itself to good business. The NFL also shares ticket and merchandise revenues with all teams except for the Dallas Cowboys which keeps revenue generated from merchandise sales and does not receive any from the other thirty-one teams (Kesenne, 2006). Each of the NFL franchises retain suite, club seating and sponsor revenues from naming rights and other properties. In 2014, the NFL generated $10 billion in revenue and is projected to generate up to $25 billion in 2025 (Stone, 2015). Major League Baseball (MLB), the National Hockey League (NHL) and National Basketball Association (NBA) share national TV revenues; however, each team keeps most of its local media, gate receipts, sponsorship and marketing rights. In MLB, thirty four percent of net local revenue is retained while the rest was distributed to the smaller market teams. Additionally, the NBA and NHL

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