Leagues: Structure and Background
Professional sports leagues are unique business structures in a free market economy. As was mentioned in the introduction to this book, leagues combine elements of cooperation and competition and allow independent team owners to seek monetary gains that might otherwise be unavailable if pursued unilaterally through the playing of disparate contests. Indeed, it is doubtful whether professional team sports could survive in the absence of leagues. Leagues offer an enticing, profit-maximizing structure to teams both on and off the playing field. Though professional sports teams are clearly competitors on the field, leagues benefit owners by providing organized regular and championship seasons ...