Hello everyone, it has been a while since I wrote a blog. Life has been a little hectic, but I love it. I am back on the grind, and today I am going to be talking about how much business is there in sports.
When you think of the word football what comes to your head? Many of you guys pictured a football, or thought of a player like Tom Brady, Patrick Mahomes, etc. What some people fail to realize is how much actual business goes behind sports. Many people do not pay attention to the backend of sports, because the players are more entertaining. For example the merchandise of your favorite team does not magically spawn into stores; there are a lot of business decisions that go into making the jerseys. First they have to see how much the shirt/jersey would cost to make. Then they have to predict how much money will be made off of sales of that jersey. That is the reason that you do not see many jerseys off 3 string quarterbacks, many people would rather buy the name/face of the team's jersey. These types of business decisions are made everyday in the corporate world of sports.
Other major business decisions in sports come from other companies. They have to decide what player we should reach out to, for business, sponsorships, building brand etc. There are many players that would not mesh well with some companies beliefs, so the company has to be vested in sports/and the player if they want to make the decision. The company’s need to do extensive background checks on the players to make sure they fit with the companies ideals.
These are only two of the numerous business decisions teams and leagues have to face. Another overlooked career is the gameday/event coordinator. They have to take care of all the logistics of a game and stadium. After all, stadiums need an ROI(Return on Investment) as well. If a stadium is built for 100 million dollars, but then the team relocates and the stadium is not used again then there is no Return on Investment from the stadium, so it is similar to 100 million down the drain.
This was just a quick introduction to how much business goes into the world of sports. Hope you guys learned something new!
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