Woods2E_PP_chapter04 (Revised)[1]

Woods2E_PP_chapter04 (Revised)[1] - CHAPTER 4 Business of...

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Chapter 4 Business of Sport 4 Business of Sport Business of Sport C H A P T E R
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Chapter Outline Sport and the Economy Ownership of Professional Sports Sport as a Monopoly Collegiate Sports as Moneymakers Recreational Sport as a Business Chapter Summary
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Sport and the Economy Today’s professional and college sports are structured, organized, and quantified. Result of move from agrarian to industrialized society over past century. Sport has adopted corporate structure. Athletes became workers; team and bottom line emphasized. Industrialization led to sport consumers.
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Ownership of Professional Sports Majority are wealthy, powerful males. Small number of teams owned by public and organizations. Historically, owners loved the game and promoted the sport. Now it’s a business investment or means of promoting other products, with many financial advantages despite lost revenue.
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Making Money From Pro Sports Investments: Average value of an NFL team in 1998 was $288 million; now it is $1.04 billion. Over the past 15 years, NFL
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Woods2E_PP_chapter04 (Revised)[1] - CHAPTER 4 Business of...

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