...Justification of the huge salaries paid to some top athletes; an economic perspective. Over the last century there has been much research into the area of Labour Economics, and hence the determinants of supply, demand and wages for labour. In this essay, I will be looking at the unique example of the Sports Labour Market with specific focus on the European Football Market, and use various economic models to justify the huge salaries currently offered to top athletes within this field. The wages of professional footballers have risen dramatically since the Bosman ruling in December 1995, in which EU football players were given the right to a free transfer at the end of their contracts, with the provision that they were transferring from a club within one EU Association to a club within another EU Association (European Commission, 2012).This has been supported by various studies, including (Simmons, 1997), who argued that the move towards a free agency had the consequent impact of increasing players’ salaries, as the forgone transfer fees translate into increased salaries, since the bargaining power is transferred to the player. This was reinforced by (Downward, 2000) who found that post-Bosman, the wages within the United Kingdom’s Premier League rose considerably. However, these findings conflict with other studies conducted, including (Szymanski, 1999), who argued that the new ruling only lead to increased wages for superstar players who have the greatest bargaining power...
Words: 2605 - Pages: 11
...In general, strategic interaction describes the way in which two parties trade. In sports, these trades are known as sponsoring. For instance, people are confronted with sponsoring in sports seeing logos of companies on t-shirts of a club, by TV ads which are shown in breaks of sporting events or by products we buy in our neighborhood drug store that are “officially” supporting the players of a professional soccer league. In the United States of America these phenomena of strategic interaction between companies and leagues, clubs or only team members are represented even stronger than in Europe. One main difference is the absence of TV timeouts in Europe. The main goal of this paper is to show how economic principles justify the introduction of these TV timeouts. First, it will describe the changes that have taken place concerning the advertising time outs in order to connect it to the underlying economic principles afterwards. Finally, it concludes with a summary of my findings. TV timeouts are basically artificial breaks of the gameplay to show the television viewer commercials during a sporting event in order to reach an audience as large as possible. In return, the league and the clubs receive a certain amount of money from the particular companies that desire to use the setting of the sporting event to show their commercials. As a consequence, some people might hold the view that artificially stopping the game to show commercials is not only boring for the audience in...
Words: 800 - Pages: 4
...their way on to the black market will sell for several times the face value” - reported Mike Keegan (Manchester Evening News, 2011). Every time a derby match is going to happen; it seems that both the preparation before the match and the consequences it brings about is more of a concern than a normal fixture. For a Manchester Derby between Manchester United and Manchester City, an extra 75 police officers will be on duty for the Old Trafford fixture and spot checks will be carried out at pubs around the ground (TheDailymail UK, 2010). Football (or soccer) is commonly known as the King of Sports – no wonder it is always in the spotlight of public eyes. But what is the drive behind all of this cautiousness of the authorities as well as excitement of the football fans? According to Concise Oxford English Dictionary (2008), “derby” or “local derby” (Martin, 2011) is used to refer to as a sports match between two rival teams from the same area (WordReference.com, 2011). These clashes of neighbors, especially those within the scope of the English Premier League (EPL), are often highly competitive not only on the field but also on the grand stand. The Barclays Premier League is widely regarded as the elite club competition in world football. Like every other league in England, the Premier League comes under the jurisdiction of the Football Association (the FA) and must submit its rules each year for approval and sanction (premierleague.com, 2011). Teams must fight for a stand among...
Words: 846 - Pages: 4
...UNIT 33: THE SPORT AND LEISURE SECTOR Get assignment help for this unit at assignmenthelpuk@yahoo.com LO1 Understand the growth and influence of the sport and leisure sector Sport and leisure sector: facilities and activities; outdoor and indoor; minority sports; professional clubs; entertainment; hospitality and exhibitions; fashionable sports and leisure activities and trends in sport and leisure; commercial and private providers; professional sport; cinemas and theatres; exhibitions; health clubs and spas; sports merchandise; voluntary eg local sports clubs, drama groups; public eg local authority leisure centres, national stadia, venues, parks and events; schools and specialist sports/drama colleges, further education centres of excellence, government organisations; other agencies and providers Growth and expansion: related to age, gender, socio-economic group, lifestyle, geographical location, disability/health status, governmental imperatives; improved choice; health clubs, specialist activities, purpose-built facilities; educational eg new sports/drama colleges and centres of excellence; events management; recreation, arts and entertainment; outdoor activities; adventure tourism; special interest tourism; sports development policy and planning; consumption; lifestyle; national governing bodies; sector skills councils; sports councils to reflect national government policy on sport and associated areas eg fitness; elite training facilities and services eg growth of youth...
Words: 1231 - Pages: 5
...RESEARCH QUESTION: Analyze a partnership between two (max. three) named organizations that focuses on a social inclusion issue using a sports initiative Abstract: “Positive Futures is a joint partnership project between Sport England, the youth justice board and the UK Anti-Drugs Coordination Unit. The aim of the initiative is to use sport to reduce anti-social behavior, crime and drug use among 10-16 year olds within local neighborhoods” (Sport England Positive Futures, 2002, p.1). The aim of the essay is to analyze the joint partnership between the three organizations and how they work together to tackle social inclusion issues using a sports initiative. The essay will also give you a detailed analysis of the aims and objectives of the individual organizations and also for their joint Partnership. “Sport England’s main initiative goal is to find out why do some people play sport, and why do some simply not want to join in. The main aim of Sport England is to promote the interests of sport at various levels such as regional, sub- regional and local levels” (Sport England, 2011). Sport England wants the people to succeed in their respective sport and they create opportunities for them starting right from the grassroots levels. They work in partnerships with UK sport (elite level sports) and youth sport trust (school level sport). “The Youth Justice Board for England and Wales (YJB) is an executive non-departmental public body. The Secretary of State for Justice appoints...
Words: 2563 - Pages: 11
...representing Sports England. The objectives are to be achieved through various strategies depending on each place and the through the market research. The following methods are to be used to develop the above objectives(McLeish, 2011, pg44-65) 1. Event management 2. Opinion pieces 3. Feature articles 4. Journalist briefing 5. Email newsletters 6. Press release 7. Press conference 8. Interviews and editorial contributions Project Deliverables Its mandatory for a company to follow basic rules and techniques of supplier as a way of evaluating better plans for holding an event in a recommended place. The project is to deliver services according to the required specifications in the tender as required by the company(Mcginn, 2008, pp. 110-115). a) Inspired Facilities This involves the availability and the ease of individual as being part of the local community activities and being part of the volunteer groups as a way of improving and developing of clubs, and at the same time modify the non supporting events int o modern sporting facilities(Matthews, 1996, pp. 35-50). b) Iconic Facilities This was developed dependimg on the basis of the London 2012 inspiratioal extract extract as a way of improving the local upcoming teams from the grassroot sports(Masterman, 2004, pp. 45-50). c) d) K e) K f) Hhhbaahdvhd 1. Protecting Playing Field 2. The most common Place people Play Olympic legacy mass are the Sports England’s...
Words: 5699 - Pages: 23
...Mission CoJo’s Sports Bar’s mission is to provide an upbeat atmosphere for local sports fans featuring quality locally and regionally brewed beer, as well as mainstream beer choices, a varied selection of food choices, and excellent customer service. Management CoJo’s Sports bar is organized as a sole proprietorship where I, Peter Macdonald, am solely responsible for the day-to-day operations including food and beverage purchasing, staffing, and scheduling. Objectives The objectives of CoJo’s Sports Bar are: * To build a successful locally owned and operated sports bar * Develop a loyal client base by providing an excellent atmosphere which make customers feel at home * Source a location for the bar that has easy access and visual impact * Develop a supply chain for quality locally and regionally brewed specialty beers * Provide simple great tasting food option to compliment the sports bar atmosphere Keys to success In order to be successful CoJo’s Sports Bar must: * Appeal to as wide as demographic as possible * Select the most suitable location for the bar * Control their costs at all times * Promote specific sporting events on a weekly basis * Provide customers with unique entertainment options such as sports specific trivia * Advertise through local media and social networking including Facebook, Twitter, etc. Company Summary The Industry Canadian Industry The Canadian food and beverage industry...
Words: 2931 - Pages: 12
...Richard Attias Become a fan Email The Development Factor: The Challenge of Sport in the 21st Century Posted: 10/21/2014 8:39 am EDT Updated: 10/29/2014 9:59 Sport occupies a peculiar place in world dynamics in that it surpasses the limitations of geographical boundaries and social classes. Still, a gap remains between developed and developing nations when it comes to sport. In the industrialized world, sport as an economic sector represents approximately 2% of GDP. For developing economies, though, the challenge remains making sport a factor of economic development, and a driver for social change, so it benefits all citizens in the long term. UNESCO's 1978 International Charter of Physical Education and Sport classified sport as "a fundamental right for all." But the low place sport occupies in the developing world's priorities shows that its importance as an educational and social tool is not yet universal. Everyone agrees that sport contributes to economic development by creating jobs and stimulating business activity. The organization of a major sporting event, for example, is a great opportunity for the local economy. The thousands of people who attend will spend money on food, lodging, transportation and other, related tourist activities. However, in recent years, we see these economic benefits are obvious only the short term. If we take the example of South Africa in 2010, the positive impact of the World Cup was, in terms of job creation and reduced crime...
Words: 17283 - Pages: 70
...clothes, equipment and other active sport items (Feifer 2014). The company was founded in 1964 by Phil Knight and Bill Bowerman. Nike uses specific method of advertising, which differentiates it from other sports companies; it creates motivational short videos, which promote sport and inspire people to stay fit. Hence, making an accent on sport, but not sportswear, Nike attracts customers in nonintrusive manner. In 2013, the total revenue of the company was $25.3 billion (Hall 2005). Adidas is a German sportswear company founded in 1924 by Adolf Dassler (Frenkel & Scott 2002). As well as Nike, Adidas focuses mainly on various types of sportswear, such as shoes, clothes, equipment and so on. The feature of Adidas manufacture is providing specific equipment for different kinds of sports, like tennis, baseball, basketball, skateboarding and cricket. The company’s total revenue was €14.49 billion in 2013 (Greeley 2014). Nike and Adidas offer similar services to clients; nevertheless, none of them have received the irrevocable advantage yet. Hence, each company has its own large audience of clients, which find something they like in a chosen sportswear provider. The analysis of the companies’ marketing principles will give an opportunity to understand what advantages and disadvantages attract or distract clients. Nike orients its products mostly on sportsmen and athletes, though they are also widely used by people who are not fond of sport. In order to target as many sportsmen...
Words: 1270 - Pages: 6
...historical times and present day. There is a saying “besides a man there is a good women standing” I interpret this as meaning society cannot function with one gender but rather both genders are required to achieve development and growth. In Trinidad and Tobago women have contributed positively in the areas of sports, culture, education, family life, leadership and politics and continue to do so for the greater good of the country. Women in the field of sports have also impacted on the development of Trinidad and Tobago. Any country that supports and promotes a woman in sports has already showed great development in nation building. In the past suppression of women was rampant and her role was mainly seen as a housewife. Men dominated sporting activities while the women were on the sidelines. In 1973 the Trinidad and Tobago women’s cricket team appeared in the first women’s cricket world cup where they finished fifth out of seven teams. But they were not recognized and compensated as is being done today for other athletes. So, one can clearly see how much changes has occurred and how the country has developed towards women in the field of sports. Today, sports can be found in every primary and secondary school including tertiary level institutions used as a developmental tool for the overall molding of our nation’s children. Parents are now encouraging both...
Words: 474 - Pages: 2
...Sport Events Industry Individual Report Words: 2822 Special events have always been part of human history. Anthropologists have traced human civilization for tens of thousands of years, and at the heart of their observations are the ‘special events’ that typify and explain tribal behavior of that time and place. At this point, there is no question that special events have taken on all aspects of an “industry” in that their organization and management are the underlying support for marking the local and domestic details of our lives. Events are not restricted to festive celebrations but can include a variety of gatherings, serious or happy, and religious or cultural, including meetings and conferences, expositions and trade shows, private and public special events, art entertainment and sport events, media or corporate events, and events of various sizes. Events are given a lot of definitions but the most general one that characterizes events is “Temporary occurrence with a predetermined beginning and end. It is unique stemming from the blend of management, programme setting and people.” (Getz, 2005). On the following report there is a wide overview of the sport events sector, that will examine the history and development, the factors that support this sector, the impacts of these events, career opportunities that will arise through this sector and future trends. History and Development Sport reflects the country in which it is played, so inevitably the history of sport...
Words: 3276 - Pages: 14
...Introduction 1 Concept 1 Details of Event 2 a. Dates and Times 2 b. Location 2 c. Attendees 2 d. Participant Target 2 e. Target Audience 3 Involvement of your Organisation 3 loveLife Media Support 4 Conclusion 5 Introduction loveLife is South Africa’s national HIV prevention programme for youth. loveLife is an NGO that has brought together a broad-based coalition of international and local organisations working in HIV/AIDS prevention, with one shared goal – to turn back the epidemic of HIV/AIDS. loveLife currently boasts a massive network of sites across the country (over 730); these sites are a hub of activity that showcase programmes, recreational and sporting activities. Concept loveLife site level sports and recreational activities occur within a league structure...
Words: 1231 - Pages: 5
...Factors that Shape Policies in Sports Development in the UK Communities. Name + Code: Professor’s Name: University’s Name: State/City: In the community, sports seem to be a form of utilizing leisure time. Apart from being a form of recreation, it is also a profession activity. Thus, it is a common phenomenon to see teenagers as well adults engaging in sports activities such as football, swimming, hockey, and running. Sports have a number of benefits to the community that tend to help the teenagers and the adults. For instance, it keeps young people busy; thus, they do not have time to engage in drug abuse and crime. The frequent exercises often improve the physical health of the population; thus, they avoid diseases such as obesity (Coalter, 2007). Such benefits need the intervention of the government to improve the state of the sporting facilities. Therefore, the government must establish policies that will ensure efficiency in the sports department. Such policies will go ahead and improve the state of sports in the community level. The essence of improving sports at the ground level is to tap the talent of the youngsters (DCMS, 2008). A wide pool of talent will ensure success of the country in international sports activities. A number of factors such as employment, engagement, investment as well as the countries prestige tend to encourage policy development in sports. In essence, such factors tend to shape policy developments in community sports (Coalter, 2007). Although everyone...
Words: 2167 - Pages: 9
...Case outline Bob Rhodes, age 32, is well known in his local sports activity. Ten years ago, he started business called The Sports Guy and raised capital from obtaining a bank loan and an equity investment from friends and family. His family and friends own 40% of the business while he owns the rest. Mortgage help him purchasing land in small town outside of GTA that consists of two lots on a corner in which one is used to build a store, and another one was planned for the parking lot but never executed the plan because of the surrounding activities. Local sports team account for 70% of the sales whereas 30% comes from regular walk-in customers. Problem Statement & Objectives The major problem is reducing profitability of the business and there is no proper management of the inventory, which leads to sale of inventory at discount rate. Also labor wages are also too high and reducing creditability of business lead to reduce in the trust of the business and loss of the customer due to improper inventory management. The objective is to get access to bank credit to finance high Analysis the financial health of the business and recommend the various way to get the business right on track Situation Analysis Summary The company sell retail sports product to the sport team and children’s. Also there is around 30% of walk-in customer, who help the business to manage inventory. This might not be attractive industry because buyer’s and potential entrants have high power in...
Words: 2147 - Pages: 9
...2012 Monday Tuesday Wednesday Thursday Friday Netball - Wmn $315 Dodgeball – Mxd $150 Futsal – Men $240 3on3 Basketball $150 Dodgeball – Mxd $150 Squash – Men $90 Futsal - Men $240 Netball - Mixed $315 Squash – Men $90 Futsal - Mxd $240 Squash – Wmn $90 Netball - Mxd $315 Squash – Men $90 Squash - Women $90 Volleyball - Mxd $150 Tennis - Doubles $100 Tennis - Doubles $100 *please tick which sports(s) you wish to enter a team into Team/Player Name: Competition conditions • Please see www.sports.unimelb.edu.au and follow links to Campus Sport for the rules of competition for each sport. • Games will be fixutred by Melbourne University Sport and held between 12.00 and 2.00pm. • There will be no games on public holidays. • All weekly results and notices are communicated via email and placed on the campus sport website at www.sports.unimelb.edu.au. • Referees are provided for all competitions except Volleyball, Dodgeball and Squash. • Teams are advised to wear suitable sports clothing. Runners must be worn. • Abuse of referees or player misconduct will not be tolerated and may result in your team being excluded from competitions. • By submitting this entry form as team contact, you sign on behalf of your team and agree to participate and abide by all rules and regulations of the competition and to participate responsibly. ENTRY DETAILS Please complete your team details below; please make sure to fill out all sections...
Words: 941 - Pages: 4
