Do we pay too much for sports?

Question

If I look at sports as a business, it is a very profitable business with limited competition. I suppose I would like to be 'in' when it comes to the money sports generates.

However, I just can't help but wonder why we pay kids multi million dollars just to catch or throw or shoot a ball?

How are these guys really contributing to society? I suppose they help give us something to cheer for when they play on our team. So that we can feel good about ourselves when our team wins, even though we had squat to do with it.

I am just still to this day amazed that a guy that runs a ball through defenders really well, is worth ten times what a heart surgeon makes. Don't get me wrong, I am certainly a sports fan. I just can't help think that we have skewed our society in some way by escalating sports people to the top 1% of all earners. Do we really value Peyton Manning more than we do the doctor that saves our life...apparently we do.

bench warmers make more than doctors.

Answer 1

Are we paying too much? Absolutely!

Are they charging too much? No! If a sucker wants to give you their money take it!

We overpay for lots of entertainment activities such as movies, rock & roll concerts, amusement parks, and sporting events.

When it comes to meaningful expenses such as building schools, hospitals, or transportation systems everyone pitches a fit about their taxes going up. But the same people don't bat an eye about paying for a stadium or paying hundreds of dollars to attend a game.

Answer 2

Good question, and I think that anyone who is a fan of a professional sport has had to ask themselves this.

Where I'm coming from is I look at sports, the NFL in particular, as a source of entertainment. Look at Hollywood, and how often do you hear people complain about movie star salaries? I would argue that it's not as much as people complain about the salaries of professional athletes. And I can honestly say that I've never stood up and screamed at a movie, I've never had nearly the emotional rush from watching a film as I do an NFL game.

My sister once asked why Donovan Mcnabb gets paid so much, and without hesitation my Dad replied "If you can throw a football like Donovan McNabb can they'll pay you the same." I could only laugh, and at that moment I realized that that's exactly the reason. The NFL is about hiring the best of the best. Winning is everything and only the best can win. They're not paying Donovan McNabb just to throw a football, they're paying him to be the BEST at it. Logically there is only one "best" and if the person is recognized for that, they'll be paid for it. If a team wants to win, they'll pay to get the best players. If they don't win, they don't get money, they lose fans, and they've failed at their jobs. If Team A will pay more than Team B and Team C will pay more than Team A, who is the player going to play for? And so like a bidding fest, the number rises.

Secondly, I'd argue where is the money supposed to go? If we pump that much money into the NFL, where is it suppose to go other than the players? Sure, it goes to management, coaches, stadium costs, etc. and the NFL even has the United Way, but if we're willing to pay athletes that much to watch their games, how can we then complain about the money they make?

And as for the surgeon comparison, of course most would be inclined to think that a surgeon has a higher "value" on our society than an athlete. But first off, what's the demand for a surgeon? How many millions of people show up to a surgeon office on Sunday afternoons in the fall? And secondly, is that surgeon being paid to be the best? How many other millions of surgeons are breathing down that surgeons neck to take his spot? Exactly.

So I guess from a moral priority perspective, it seems that we're screwed up, but from an economical and logical perspective it makes perfect sense.

Answer 3

Of course not! We pay what the market will bear... therefore, it's just the right price. Sporting events are some of the cheapest entertainment around, when you consider the amount of excitement and time relative to the price paid. Whether you watch your game on tv, in a bar, or have season tickets, you obviously get enough value to justify paying the price you pay. Yes, each major sport might be a monopoly, but there is plenty of competition to keep the prices down, both within the world of sports (from other athletic events) and more generally, there is a great deal of competition for every entertainment dollar.

Answer 4

Not really. Actors and music stars make tons more and do it for longer. The NFL is really the only sport that you don't need cable to watch. The TV contacts pay more of a % then we do. I think we pay to much for the concessions, $6.50 for a beer, and $5.00 for a burger,$15.00 to park. The problem is everyone wants to get rich.
As for doctors, do you realize that health care goes up20-30% , if not more every year? That could be a nice raise for any employee and I'm not talking about the doctors. I'm talking about the average employee that makes 60,000 a year and pays 7200 a year out of their pocket, not including the employers contribution.

Answer 5

No doubt we've been paying too much. They could charge $5 for an NFL ticket and 99 cents for a hot dog, and those players would still be rich.

Answer 6

Yes.
I am older remember when box seats at Shea and Yankee stadium were $4. Also Jets tickets at Shea Stadium were only $7 and they did not sell out.

Answer 7

Of course we pay too much for sports. The market allows for it to happen, so it is what it is. But our priorities are out of whack. That being said, I can't wait until football season.

Answer 8

yes

Answer 9

I do I know that....my wife tells me all the time