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Every day people around the world complain about professional athletes salaries. Even though the top athletes make millions of dollars every year, the majority of athletes do not make any more than the average working class citizen. There are also many risks along with the job, and job security is very unstable. Expenses and taxes also limit the amount of money an athlete makes. Tax rates are extremely high for the men and women who participate in professional sports. The salaries of athletes such as Rafael Nadal and Drew Brees may seem to be a bit to high, but with all the factors that take money away from them they are not so high. Athletes impact global, national, and local economies tremendously. Joel Brandenberger states, "From the professional level to college, high school and grade school participants, male and female athletes are playing games that spur revenue for their communities, cities, and ultimately their state." Around $14.3 billion a year is brought in by the sports industry in earnings. About 456,000 jobs are created by the sports industry with an average income of $39,000 per job (Burrow 1). One state that is highly impacted by professional sports is the state of Florida. According to the Florida Sports Foundation, the sport industry in Florida has grown from a $16 billion industry in 1999 to about a $36 billion industry over the years (Brandenberger 1). Sports brings in millions of tourists and fans to Florida each year; this allows hotels, restaurants, and other businesses to benefit from the teams. Over 430,000 jobs have been given to Floridians by the sports industry. Jobs created by by the sports industry include media positions, officials, sales representatives, vendors, and thousands of other direct a... ... middle of paper ... ...d Jobs First. N.p., n.d. Web. 22 Apr. 2014. . Saporta, Maria . "Impact study: Atlanta Braves a $100 million home run for state economy." SaportaReport. N.p., n.d. Web. 22 Apr. 2014. . Schwartz, Nick. "The average career earnings of athletes across America's major sports will shock you." Detroit Free Press. N.p., n.d. Web. 22 Apr. 2014. . "Youth Sports Injuries Statistics." Statistics. N.p., n.d. Web. 20 Apr. 2014. . "5 Most Devastating Sports Injuries." Men's Fitness. N.p., n.d. Web. 22 Apr. 2014. .
n.p.. 28 Jan. 2014. Web. The Web. The Web. 08 Feb. 2014.
Siegfried, J., & Zimbalist, A. (2000). The economics of sports facilities and their communities. The Journal of Economic Perspectives, , 95-114.
Staudohar, Paul D. "Salary Caps in Professional Team Sports." Compensation and Working Conditions 3.1 (1998): 3-11. EBSCO Host Connection. Web. 5 Feb. 2014.
Cooper, Kenneth J. "Should College Athletes be Paid to Play?" Diverse Issues in Higher Education 28.10 (2011): 12-3. ProQuest. Web. 24 Nov. 2013.
Until just recently according to an article in the Harvard Journal, “in the past twelve years, the amount of money generated by [football and basketball] has increased nearly 300%, such that they now fund almost all other sports programs” (Meshefejian). This points out that if student athletes were given a salary, the only athletes that would receive it are those in basketball and football. The less popular sports athletes would either switch to these two sports, or continue playing the sport they love while their colleagues thrive in the sport they love while getting an
Noll, Roger, and Zimbalist, Andrew. Sports, Jobs, and Taxes: The Economic Impact of Sports Teams and Stadiums. Brooking institutions press, Summer 1997. Vol. 15 No. 3.
Mahler, Jonathan. "College Athletes Should Be Paid Exactly This Much." Businessweek.Com (2014): 1. Business Source Complete. Web. 8 Apr. 2014.
"Paying College Athletes." Issues & Controversies. Facts on File News Services, 21 June 2010. Web. 10 Apr. 2014.
Do athletes get overpaid? Is it fair that the average NFL player gets paid 1.9 million dollars a year while the average heart surgeon gets paid 533 thousand dollars annually? I think that professional athletes don’t get paid too much. There are multiple reasons that proves that their pay is not excessive. Their careers are short, they risk their body for our entertainment, and they motivate children.
Now Mr. Roberto Hinojosa contends that professional athletes are overpaid. Citing U.S. Household Income stats for 2012 he explains that teachers,
The controversy of athletes being overpaid dates back to 1922, when well-known baseball player George “Babe” Ruth received $50,000 within the first year of his career. Ruth’s extensive wealth was bolstered by dozens of endorsements (Saperecom). As it is shown in figure 1, in the Fortunate 50 Tiger Woods takes the number one spot for highest paid athlete. Tiger’s salary for 2011 is $2,294,116 and like Babe Ruth, his endorsements exceed his salary earning $60,000,000 making his total $62,294,116 (Freedman). It’s crazy to think that 89 years ago professional athletes scarcely made more than the average person today. This is of course not counting the inflation that has occurred since the years which Babe Ruth played baseball.
College athletes have gained a lot of popularity among Americans in the past few decades. This has resulted with an increasing revenues for National Collegiate Athletic Association (NCAA), and not just NCAA but the colleges as well. However, one side is not getting any profit, and that side is college athletes. College and basketball programs earn billions of dollars each year through marketing, broadcast contracts, ticket sales and merchandising. The March Madness basketball tournament alone earns more than $1 billion each year in ad revenues, far more than the Superbowl. Schools and the (NCAA) both benefit tremendously from the windfall, as do coaches, many of whom are paid more than a million dollars each year. But the athletes themselves? They do not get a penny. The question becomes, why should they get paid? Reasons for they are; they spent tremendous time on practices, they struggle to earn
N.p., 31 Aug. 2005. Web. The Web. The Web. 17 Apr. 2014.
This 4,700% increase has resulted in extreme inflation of player contracts. The outstanding amount of profit in the professional sports business is the biggest factor for multi-million dollar contracts. The increase in willing buyers and willingness to continue to pay for high-price merchandise and tickets, has caused the inflation in the sports business. This illustrates that the consumers are solely to blame for the extravagant salaries of professional athletes. The money must be allocated fairly, and the players are the ones largely responsible for the revenue. The Milwaukee Bucks, a basketball franchise with 15 players on payroll, made 300 million dollars in profit, while the players were only paid 15% of the budget(Stein, P.1). The economics of professional sports is in favor of the athletes, and many could argue they deserve a higher share of the money they