The essay intends to concentrate on sports which have turned into a profitable business, run by various organisations. Furthermore, the essay describes the impact of commercialisation of sports with particular focus on football. The prime objective of the essay is to recognise how modern sports have developed and how it has become a business where organisations compete for resources and apply professional management techniques in order to gain success.
The sporting world has changed significantly in present days. What was previously an activity of leisure time, has become a business with players being provided huge pay, investment in franchisee, stadium expenditures (Oxford University Press, n.d.). Revenue sharing in altering level has arrived in professional team sports throughout the world. In sports business, broader media concern, particularly the television has become significant which impacts on the income of professional team groups, individual sports and college games. Apart from this, more attention is given on matters of employment market such as ethnic discrimination and consumption of drugs in sports (Sheard, 2009).
Whenever a player is traded from one club to the other, or they sign an agreement above US$10 million per year, economists instantly try to distinguish inadequacy in those agreements, but media attention is obviously concentrated on the converse query about how the athletes make huge revenue (Rosen & Sanderson, 2000). The impact of soaring salary of players can be viewed on the high price of public tickets issued for watching the matches. Along with these matters, the fee of per player itself is the imperative issue of the sharing of skill or competitive equilibrium within leagues (Golby & Sheard, 2003).
Traditionally, the individuals with spare time on leisure activities were generally involved in sports.