So, everyone knows how bad our economy is. Nascar is suffering, and the Arena Football League even canceled its season this year. So does the economy only a hit the not as popular sports? The answer is unequivocally no!
The NBA, MLB and the NFL are also feeling its effects. The Los Angeles Lakers have unloaded two players to avoid two million in taxes. The league executives are frightened to take on new player's salaries as was apparent when the NBA trade deadline passed without much action.
With the acception of the New York Yankees, teams are reluctant to pay big money to free agents. Perhaps, Manny Ramirez and other Major League Baseball players will be sorry for not signing deals when the money was on the table. Merchandise sales are down and so are ticket sales at some stadiums. Yahoo! wrote a story about players needing to borrow money from teamates.....what? A million dollars doesn't pay your bills?
The NFL is also perplexed especially because of Al Davis's irrationality. Who pays over 60 million to a cornerback? Players can't expect to that kind of money in today's economy.
http://www.cnbc.com/id/15840232?video=1045372898
Going to a football game for a few hours costs a lot of money. Will fans make up the cost of these insane expenditures by going to the games and buying merchandise? Sports 101 doesn't think so.
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