The Economy and Sports (Baseball, I'm looking at you)

As the economy in the United States continues to sink deeper into recession (almost a Freudian slip of depression), many experts have said that sports will be directly effected; ticket sales and sponsorship. We have seen the US Government pump money into banks and lenders with $700 billion dollars, yet we don't see those banks drop the sports teams they sponsor. AIG, sponsor of the English Premier League (futbol) team Manchester United, a contract of 14 million pounds (28 million bucks), will continue to sponsor the team through 2010. And across the pond in New York City, the US financial mecca, the troubled bank CitiGroup will continue to sponsor the New York Mets 'Citi Field' despite the the $400 million price tag over twenty years. In other words, the US Goverment, aka. the American tax payer, is footing the bill for these glorious sponsorships, not to mention the million dollar bonuses to line your Armani suits and privte jets.

Unfortunately, it doesn't end there. Not only are sponsors sticking with these teams, the owners and GMs are spending like its 1999. While even my own home team, the Mets, spend money on free agents, it still frustrates me to no end that teams are still spending 100+ millions of dollars in a time when millions don't even have a job. If I were the owners, I wouldn't pay them this kind of money. Sports salaries and contracts have escalated to extraordinary levels since the late 90's, and the only way it can stop is if teams stop letting agents like Scott Boras dictate the market value of a player.

It really is somewhat sad to see a player like CC Sabathia accept $23 million a year, during such tough economic times. I'm not saying these players should just take less money because we're in a tough economy, I think that MLB needs to look at other sports like the NFL and the NHL and bring on a salary cap. Teams like the Yankees, Mets, Red Sox, Phillies and Dodgers will always have more money to spend, but, other teams like the Marlins, spend as little as possible, while remaining profitable. There needs to be a salary minimum and maximum. This is getting a bit off topic, but needs to be done sooner than later (not likely, but a guy can wish can't he?).

Sadly, people will continue to spend money to attend sporting events, watch on TV, buy their favorite player's jersey, so maybe this is all pointless, and nothing will change. But I think that as the economy gets worse, we will see lowered attendance and more people watching on TV, which is virtually free outside of their monthly cable bill. When the teams really feel the pinch, maybe they'll tighten up their wallet and players will get paid less.