The Sports Economics Challenge
Investors Pitch In
For decades, sports business had moved in just one direction—up. The industry had grown twice as fast as the world economy and did not slow down during the global economic declines of 2001 and 2008. Steadily rising payments for sports content helped, and more sophisticated pricing programs increased revenues for events. Initially, the pandemic struck the foundations of this success story with widespread cancellations and a near total loss of spectator revenues. Even top-performing organizations reported large losses—the 30 teams in Major League Baseball lost a total of $1.8 billion in 2020, compared to the $1.5 billion profit reported the year before. Investors were quick to recognize ...
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