Column by John Morris, Staff writer
What do most people want to think about when they think economics? Oil what’s the trade market like or what’s the stock market like?
What lucrative company is bringing in the most money?
The question they should ask is what’s the sports market like.
The question most overlooked is about the impact this would have on the country and the economy.
Money fuels the economy and sports are a big, if not one of the biggest, sources of the country’s income.
Sports are a part of this country’s culture and something that most people are involved with in everyday life or have done in some part of their life.
Every game that takes admission to every app that takes downloading and to every channel watched adds that much more to the impact they have on the economy.
Sports are so big and so helpful because work with almost every type of business when in action. It is an action when sports are being played.
It is its own place in the market then you add in food, television and travel among other things.
Sports always contribute to the economy and every year sports get bigger and bigger.
Research on economicmodeling.com from Gwen Burrow, 2013 sports initially brought in roughly about $14 .3 billion in earnings not counting the money coming from the Super Bowl.
Sports also contributed about 456,000 jobs with a salary estimated at $39,000 per job.
The sports industry has a wide array of jobs in connection to other industries school fine arts teaching fitness and health law and management.
Burrow broke down the 14.3 billion income into three categories initial direct and indirect.
Initial being the sports workers incomes at $10.3 billion, direct being impact of the industries purchases at $2.6 billion, and indirect showing the suppliers supply change at $1.4 billion.
The research also showed the six major sports jobs offered the athletes, referees, entrepreneurs, and managers, go to scouts, entertainment and performers.
Burrow’s research also showed the jobs in 2009 went from 324,344 and in 2013 they grew to about 351,137 which was a 26,793 increases.
One way its become a top economic driver in this country is due to its international fanfare.
Forbes recently released a list of the wealthiest teams in the world.
The Dallas Cowboys were worth $4 billion dollars, soccer team Real Madrid $3.26 billion, the Patriots at $3.2 billion, Yankees at $3.2 billion and soccer team Barcelona $3.16 billion.
Super Bowl in 2015 accumulated about $500 million to the city of Phoenix.
One big factor is the amount of sports teams and how much hey bring in to their respective cities and states annually. Some places have more than one team.
Most sports have more than one league, like major league, minors, and semi pro most have their own sponsors.
According to the NCAA website, for 2011-12, the most recent year for which audited numbers are available. NCAA revenue was $871.6 million.
Colleges are a huge piece of this puzzle because of the fact there is a multitude of them and their connection with people kids, students, staff and alumni.
This is just a small sample of the big economic picture that sports put up when you see input it has on the country.