Owners of Professional Sports
The Shot Callers
By: Brandon Akins
Source: Jerry Jones |
On October 18th, 2012 in class we talked about owners of professional sports teams. I wanted to write about the owners of professional teams because I feel like these are the people in sport who do not receive enough attention or any for that matter. When you think about it how many owners of sports teams are actually in the public eye of the masses there might be a handful of owners one can name. People like Mark Cuban, Jerry Jones, Art Rooney, and Michael Jordan. In recent years, you see more celebrities like Michael Jordan buying partial ownership of sports teams "Magic Johnson and the LA Dodgers: Top Five Celebrity Sports Team Owners". I believe this is a smart business move seeing how the sport industry is the 4th biggest industry in the nation and 11th in the world. The article shows that former athletes, musicians, and even former presidental candidates all want a piece of the pie. Owners now days are more diverse than maybe say 15-20 years ago but still are a mjority of white. On page 373 of the text Coakley talks about how the tendency to think alike as owners has been especially strong in the recent years between the owners of the teams in the major North American sport leagues. Unity among owners has led to the formation of effective cartels. A cartel is a centralized organizing group that coordinates the actions of a collection of people or businesses. Therefore, even though each sport franchise in each league is usually a seperate business, the team owners in each sport come together to form a cartel representing their collective interests. Now there are many sources of income for team owners such as:
1. Gate Receipts
2. Social of media right
3. Stadium renevue (leases on club seats, PSC's, luxary boxes, concessions, etc)
4. Licensing Fee and merchandise
Not all owners of sports teams have very profitable organziations some are ok with breaking even or making little if any profit, mostly at the minor league level. But they are the ones that do the hiring and firing of the organization, though they hire people to make decisions for them they are somewhat like the president they have the right and power to veto something they do not agree with. Many Owners play the back role and stay out of the spot light and this is why they do not get enough credit. If you had the opprotunity to take over a professional team do you think you could handle the pressure?