Money And Careers In Sports
The sports industry contains multi-billion-dollar organizations that all offer multitudes of careers to business majors, among other degrees. IntroductionAttention Getting Device: Who here would want $30. 8 billion dollars? Yeah, me too. Unfortunately I’m not a miracle worker and cannot guarantee everyone in here that amount of money. But, I do want to explain to you how you could get your share of it. Even if that share is 3/10000th of a percent because that’s still more than 90, 000 a year.
The sports industry contains multi-billion-dollar organizations that all offer multitudes of careers to business majors, among other degrees. As a kid, I had always loved sports. It had been my dream to be involved in one of the major sports leagues in America. But as I got older and realized I couldn’t run super-fast or jump really high, I had to weigh my other options. From the beginning of the year, I noticed a lot of us in here are business majors, especially general business. Hopefully, this presentation will enlighten you on some career choices that you may have not considered or even known about before and how you can get your share of that 30. 8 billion dollars.
The three major sports leagues in the United States, the NFL, the NBA, and the MLB, all create revenues that topple billions of dollars every year. The NBA dominates the winter constantly featuring primetime games and breaking trade news. All of this publicity doesn’t go to waste as according to Forbes Magazine, the NBA brought in over $7. 3 billion dollars in revenue in 2017 alone. Meanwhile every team in the NBA is valued at over one billion dollars.
Every summer the MLB owns the sports tv platform while creating billions of dollars. Forbes magazine reported that the MLB garnered over 9. 4 billion dollars in revenue in 2017. Each MLB team is worth an average of 1. 645 billion dollars. One of the most popular teams in the league, The New York Yankees, are valued at $4 billion.
Lastly, every Sunday during the fall, football provided by the NFL is on T. V. screens across America, filling the pockets of those involved. Per Fortune Magazine, The National Football League generated $14 billion US dollars in revenue in 2017. From the same report, each NFL team, on average, is worth 2. 5 billion dollars, far exceed baseball and basketball teams. The revenues of all of those combined are $30. 8 dollars. However, not all money is made by the leagues themselves, as there is money to be found in endorsement deals and T. V. deals.
High profile athletes make just as much money from endorsement deals by companies as they do through the contracts with the league they play in. Most athletes who are successful in their careers receive large endorsement deals from appeal companies such as Nike and Adidas. In May of 2017, Business Insider confirmed that Lebron James, now of the L. A. Lakers, signed a lifetime deal with Nike that is worth over $1 billion dollars. In addition to clothing deals, athletes can sign with food and drink companies. Time magazine did a report during the 2016 Rio Olympics that revealed athletes like Usain Bolt had a multi-million-dollar deals with Gatorade.
Large amounts of money are generated by professional leagues through the deals they have with T. V. stations for the rights to televise games. According to ESPN, in 2016 the National Basketball Association signed a contract extension with ESPN and TNT worth approximately $2. 66 billion dollars a year. Just recently in January, CBS Sports reported that Fox Sports signed a deal to have the rights to air Thursday Night Football worth 3 billion dollars over the next five years. All this money is moved around throughout the sports world and you can earn part of it. Every professional athlete has a sports agent or agency that negotiations his or her contracts for them. Sports-management-degrees. com describes the main responsibilities of a sports agent to sign new players, negotiate salaries, and form relationships. These agents are paid by percentages of the contracts they negotiate. According to marketing-schools. org sports agents can make anywhere from one hundred thousand to one million dollars after ten years in the profession. B) 2nd sub point: People with marketing degrees can often find jobs in sports. Many sports agencies hire marketing managers. Marketing-schools. org explains their job as someone who will plan, design, and supervise any ad campaign that markets to sports fans. These sports marketing managers enter making roughly 45-60k per year and after ten years in the business they can make anywhere from 70-110k per year.
Every professional team has careers available for business majors. The official Cleveland Browns website lists over 50 different careers in their front office. The jobs available within the Browns organization range from Senior Vice President of Marketing and Media to the Manager of Marketing to Accountants.
Conclusion
Today I spoke about all the money that flows through sports and the careers you could think about to possibly get ahold of some of that money. The sports world offers multiple different careers as it needs it to help handle the absurd amounts of money that flow through it. Clincher: I’ve been spitting out large numbers throughout this entire speech. But now I want to leave you with a small number. That number is one. It takes one decision. One decision to look into careers into sports. One decision to complete your degree. One decision to find the career you love.
