Money Playing too Much of a Role in Sports?
Less than 24 hours ago we had UFC fight night in the city of Vegas. The UFC typically holds cards every weekend other than their numbered pay per view bouts (the next one promises to be interesting BTW) that while they can bring some exciting fights, they typically don't generate that much of a buzz outside the hardcore UFC community.
Something was different about this UFC event though, and it came from an unexpected place. While you'd typically expect performances to be the major highlights of these events, the major talking point came from actions taken outside the ring. It was instead the presence of Meta Founder and co-owner, Mark Zuckerberg who came with his wife and a couple of friends and workers from Meta.
This made buzz because not only was Zuckerberg present, but he apparently bought all ticket seats as tickets were only available to him and his friends, hence a private show. This has been met with a series of reactions including strong criticisms of the move. While I won't dwell much on those, one thing for certain is that money is increasingly playing a bigger role in sports.
A Growing Trend
Since the industrial revolution, sports has become one of the biggest business sectors out there. The information age, technology, rising incomes and growing popularity has made the sports industry thrive. It is now literally an industry worth Trillions of dollars and employing millions directly or indirectly.
Companies and industry sub sectors have witnessed a boom in their earnings allowing them to expand their reach and offer better packages to everyone. Revenue is a big part of any business no doubt, and it is only rational that companies act in their best interest. Yet it has become imperative to point that the industry is likely becoming too money focused for its own good.
Athletes are the major beneficiaries in the industry, and rightfully so. For the most part they earn a substantial sum in wages but the major problem is that this can be very disproportionate. Superstar athletes can take more than a sizeable chunk of the overall rewards while less talented, popular or skilled athletes are left with the rest, with some even struggling to make ends meet.
Blind to Consequences?
The sheer amount a company is willing to spend on its superstars is quite hefty, and isn't without consequences. See the case of Barcelona or most European soccer clubs who are struggling to break even due to increasing player valuations and wages. The numbers just keep going higher and higher, and companies are also going to great lengths to make revenue.
No doubt technology and the ubiquity of information has made this process a lot easier. Most popular sporting franchises or players have a global fan base, which also means they can rake in money from all over the globe. Many of them therefore have expanded their reach into international markets that have welcomed them with arms.
UAE and Saudi Arabia have increasingly featured hosting major sporting events from boxing, UFC, WWE to athletics and football. They offer these franchises crazy amounts of money, perhaps too good to pass up. Maybe we have reached the point of no return as far as sports and money are concerned, but there is need for caution.
Conclusion
The dangers of getting overrun by money is losing sight of what should truly be important, as well as falling into ruin. While sports will continue to sustain livelihoods, it must not kill its spirit of competition, excitement and equity by dancing only to the tune of the highest bidder.
As everything in the world, money is very important in any aspect of life. Nowadays, soccer clubs are companies, they move millons every year, just putting an example.
The athletes also enter un this equation, they attract people, which means money, for that reason every sports asociation no only wants to win all the trophies, they want yo have the best ones by they side.
Grettings my friend!
If you have the money then no one cares as long as the tickets are sold whether it is 100 people or 5000. I agree we are losing sight of what is important and soon enough they will wonder how they lost the fans along the way.
Very true. Boxing is a good example, as fans grew tired of the best fights playing second fiddle to the big money fights
Money makes the world go round, yes it does. But the limits as to how money is impacting sports is beyond ridiculous now and it seriously puts a blight on sports for me as a whole. The Qatar World Cup and sports washing makes me lose interest in sports. For the younger generation that is growing up with it, it's what they're used to so they probably don't care.
My earliest teen years was around the 2002 World Cup so that era is what I'm used to. Perhaps its an inevitable part of a sports evolution. I don't like it though. I'll be watching the World Cup because I love football, Australia and Germany. I couldn't care less for anything else to do about it.
The sad part is that it will probably get progressively worse
so unfortunate isn't it. I spose its just something we need to get used to
What Mark did was uncalled for if he wanted a private match what stopped him from staying at home and watching the match on a big screen? And for the coordinator should not have let it happen but they were blinded by money.
The Zuck aside, I think there are some really great arguments for salary caps in sports. It's not a perfect system, but when you look at leagues around the world where some teams are spending 4x or more what the other teams can afford, is it really any surprise that they end up winning all the time? I think it kind of eliminates a lot of the fun when you know that your team really doesn't stand a chance at victory based on economics.