Pay Dirt: The Business of Professional Team Sports

Commendation Quotes: Blending illuminating (and entertaining) anecdotes with economic analysis, James Quirk leads readers through the increasingly complex labyrinth of a significant industry--professional sports. Along the way he slays the notion that economics is the dismal science.' He demonstrates that decisions made in the executive offices of sports franchises can be as fascinating as, and can influence, what happens in the games. All Americans are involved in the sports business as ticketbuyers, taxpayers, and participants in the culture that shapes and is shaped by professional sports. So there should be a wide readership for this intelligent guide to reading newspapers' sports pages, which increasingly resemble business pages. Table of Contents: List of IllustrationsList of TablesPrefaceCh. 1Introduction1Ch. 2The Market for Sports Franchises23Ch. 3Taxes, Taxes, and More Taxes88Ch. 4Stadiums and Arenas125Ch. 5The Reserve Clause and Antitrust Laws179Ch. 6Why Do Pro Athletes Make So Much Money?209Ch. 7Competitive Balance in Sports Leagues240Ch. 8Rival Leagues and League Expansion: Baseball, Basketball, and Hockey294Ch. 9Rival Leagues: The Great Football Wars333Postscript363Appendix to Chapter 3366Appendix to Chapter 6369Appendix to Chapter 8374Data Supplement377Ownership Histories378Attendance Records479Radio and Television Income505Bibliography513Index of Names531Index of Court Cases538Review Quotes: Call this volume "The Wealth of Nations" of professional sports. Unrivaled in scope, the [book] should stand for quite some time as the basic work from which all descendants will spring.--Steve Gietschier "The Sporting News "Review Quotes: The book is written in a reader-friendly fashion, is chock-full of anecdotes, is conceptually sound, and is bulging with useful data. "Pay Dirt "is a solid scholarly contribution to the literature on the economics of sports.--Gerald Scully "Journal of Political Economy "Review Quotes: One of "Choice"'s Outstanding Academic Titles for 1993Review Quotes: Call this volume "The Wealth of Nations" of professional sports. Unrivaled in scope, the [book] should stand for quite some time as the basicwork from which all descendants will spring.--Steve Gietschier "The Sporting News "Review Quotes: The book is written in a reader-friendly fashion, is chock-full ofanecdotes, is conceptually sound, and is bulging with useful data. "PayDirt "is a solid scholarly contribution to the literature on theeconomics of sports.--Gerald Scully "Journal of Political Economy "Review Quotes: One of "Choice"'s Outstanding Academic Titles for 1993Jacket Description/Back:"Blending illuminating (and entertaining) anecdotes with economic analysis, James Quirk leads readers through the increasingly complex labyrinth of a significant industry--professional sports. Along the way he slays the notion that economics is the dismal science.' He demonstrates that decisions made in the executive offices of sports franchises can be as fascinating as, and can influence, what happens in the games. All Americans are involved in the sports business as ticketbuyers, taxpayers, and participants in the culture that shapes and is shaped by professional sports. So there should be a wide readership for this intelligent guide to reading newspapers' sports pages, which increasingly resemble business pages."--George Will Review Quotes: "Call this volume "The Wealth of Nations" of professional sports. Unrivaled in scope, the [book] should stand for quite some time as the basic work from which all descendants will spring."--Steve Gietschier, "The Sporting News" Review Quotes: "The book is written in a reader-friendly fashion, is chock-full of anecdotes, is conceptually sound, and is bulging with useful data. "Pay Dirt "is a solid scholarly contribution to the literature on the economics of sports."--Gerald Scully, "Journal of Political Economy" Publisher Marketing: In the 1990s, players are earning record salaries and owners are making record profits in each of the pro team sports. However, the unrest that has accompanied these windfalls is staggering. There was the cancellation of the 1994 World Series because of a players strike, and Art Modell's decision to move one of the most successful franchises in football history because he wanted a new stadium and that's just the beginning. Now available for the first time in paperback, this veritable bible of sports economics clearly explains the effects of salary caps, the reasons why owners fear antitrust hearings in Washington, why sweetheart deals for new stadiums are becoming the norm, and why everyone is making so much money in sports at the expense of the fan". Quirk demonstrates that decisions made in the executive offices of sports franchises can be as fascinating as, and can influence, what happens in the games. All Americans are involved in the sports business as ticket-buyers, tax- payers, and participants in the culture that shapes and is shaped by professional sports. So there should be a wide readership for this intelligent guide to reading newspapers' sports pages, which increasingly resemble business pages". George Will"Call this volume The Wealth of Nations' of professional sports. Unrivaled in scope, the [book] should stand for quite some time as the basic work from which all descendants will spring". Steve Gietschier, The Sporting NewsPublisher Marketing: Why would a Japanese millionaire want to buy the Seattle Mariners baseball team, when he has admitted that he has never played in or even seen a baseball game? Cash is the answer: major league baseball, like professional football, basketball, and hockey, is now big business with the potential to bring millions of dollars in profits to owners. Not very long ago, however, buying a sports franchise was a hazardous investment risked only by die-hard fans wealthy enough to lose parts of fortunes made in other businesses. What forces have changed team ownership from sports-fan folly to big-business savvy? Why has "The Wall Street Journal" become popular reading in pro sports locker rooms? And why are sports pages now dominated by economic clashes between owners and players, cities with franchises and cities without them, leagues and players' unions, and team lawyers and players' lawyers? In answering these questions, James Quirk and Rodney Fort have written the most complete book on the business and economics of professional sports, past and present."Pay Dirt" offers a wealth of information and analysis on the reserve clause, salary determination, competitive balance in sports leagues, the market for franchises, tax sheltering, arenas and stadiums, and rival leagues. The authors present an abundance of historical material, much of it new, including team ownership histories and data on attendance, TV revenue, stadium and arena contracts, and revenues and costs. League histories, team statistics, stories about players and owners, and sports lore of all kinds embellish the work. Quirk and Fort are writing for anyone interested in sports in the 1990s: players, players' agents, general managers, sportswriters, and, most of all, sports fans. Review Citations:

Library Journal 11/15/1992 (EAN 9780691042558, Hardcover)

Publishers Weekly 10/19/1992 (EAN 9780691042558, Hardcover)

Contributor Bio:  Quirk, James Michael Fairley has been writing and speaking about label and packaging materials, technology and applications since the 1970s, both as the founder of Labels & Labeling and other print industry magazine titles and as an international consultant writing label industry market and technology research reports for the likes of Frost & Sullivan, Economist Intelligence Unit, Pira, InfoTrends and Labels & Labelling Consultancy. He now works as a consultant to Tarsus Exhibitions & Publishing - which organizes the Labelexpo shows, Label Summits and publishes Labels & Labeling magazine - as well as regularly speaking at industry conferences and seminars. He is a Fellow of the Institute of Packaging / Packaging Society, Fellow of IP3, a Freeman of the Worshipful Company of Stationers, an Honorary Life Member of FINAT and a Licentiate of the City & Guilds of London Institute. He was awarded the R. Stanton Avery Lifetime Achievement Award in 2009. Danielle Jerschefske is the North America Editor for Labels & Labeling magazine, holding a Bachelor's degree in International Studies from the University of Wisconsin Milwaukee. Danielle regularly presents at leading industry conferences on subjects including environmental strategies, interactive packaging, regional and global trends, and the rise of the private label. Danielle has closely followed the emergence of environmental consciousness within the label industry and was awarded 'Publication of the Year - 2007' in the article category for her piece, 'Green 101' by the PNEAC. She is an active participant in the TLMI environmental committee, its recycling subcommittee and a proponent of the Phoenix Challenge Foundation. Contributor Bio:  Fort, Rodney D Fort is Professor of Economics at Washington State University.