Skip to main content

SPORTS ECONOMICS: THE IMPACT OF FOOTBALL RUNNING COST ON AN ECONOMY

SPORTS ECONOMICS: THE IMPACT OF FOOTBALL RUNNING COST ON AN ECONOMY Emy1010   29 min   28  

 


SPORTS ECONOMICS: THE IMPACT OF FOOTBALL RUNNING COST  ON AN ECONOMY.
The game of football and other major sports are of considerable economic, social and cultural significance. The primary role of any  Football/Soccer League is to organise the football competition between the Clubs that make up the league. Each League match is watched by millions of fans and supporters all over the world. They travel round the country to follow their team, and millions miles away hook up through media and the internet. This interest helps to generate a wide range of revenues; through ticketing, merchandise, souvenirs, and sales of broadcasting rights. In particular, the sales of broadcasting rights have been one of the most significant revenue streams for the football association and clubs. The huge advert deals from top corporate firms with clubs, and broadcast organisations all add up to the local economy thereby directly or indirectly impacting on the Gross Domestic Product. These firms also go as far as negotiating with notable players to endorse and promote their brands; all equally add up to GDP and GNP (Gross National Product) making the economy vibrant. When the economy is vibrant, the vicious cycle of poverty is broken and  standard of living increases. 
The growing interest in football/soccer from within and outside, reflects continuous investment in the clubs, stadiums, infrastructures, players, training facilities, and across media outlets. These, in turn, generates significant economic activity, supporting jobs across a wide range of sectors and generating tax revenues to the government. There are also other economies that emerge or spring up as a result of a particular game at hand; customize souvenirs  and temporary structures to accommodate eateries offering takeaways. These also include hospitality and drinks. These are just the major economic activities that spring up on match days. There are other minor miscellaneous economic activities too including the unseen ones both within and around the stadium; also via the internet.
The football league and clubs have been able to contribute to reduction in unemployment by providing jobs, and creating new ones either directly or indirectly. Additional economic transactions emanate from employee spending in diverse areas including for personal use and extended family needs. These shows the significance of football/soccer leagues and its Clubs’ contributions in supporting a large number of its own creations. The volume of transaction adds up. The expansion of the league and emergence of new clubs; increases volume of running cost, contracts, deals and jobs that eventually add up to the overall economic activities.
The overall huge impact of these mega deals and volumes of transactions has led to the growth of interest in areas like Sports Medicine, Football agents and divergence of some professions. For example, in law firms, you find some lawyers concentrating on sports law. The coaching aspect has not been left out in the need for specialties. Every department of the game is no longer handled by one man; now there is the goalkeeper trainer, physical trainer, technical adviser, chief coach and team manager. All these is to ensure that every opportunity is maximised for the growth of the game and more earnings from mega deals. 
One major fact currently, is that, the lacklustre attitude towards football/soccer and other sports as a profession in general is virtually none existence anymore. Before now, sports was seen as a mere recreational activity and exercise. In those days, for example, you will be too scared to approach your parents with your intention of becoming a footballer or sports personality. The reverse is the case today. Now parents practically berate their children for not engaging in one form of sports or the other. They encourage and preach it loud and clear. Mostly fathers buy club jerseys for their sons, just to influence  them early enough towards that line.  The girls are not left out, with the recent growth of female football.
The financial impact on leagues and its exigencies activates series of investment portfolios from stakeholders that leads to multipliers effect on other sectors of the economy.  

Written by
emy1010.

For more write-ups by emy1010, click on the followings


 
 
 



Comments

Post a Comment

Popular posts from this blog

        Call him, Revolutionary...you won't be wrong!   Call him Visionary..you will also be correct!   Call him the  C.E.O of OkadaBooks...Then you would    have just nailed it!   Here is A Chat with Okechukwu Ofili, C.E.O of OkadaBooks... Reflecting on the journey thus far, Mr Okechukwu Ofili , C.E.O of OkadaBooks describes his journey as an interesting one and he compares the bundle of talents in Nigeria to that of an untapped  resources which is yet to be drilled.   Furthermore he feels great to be a part of the revolution in the writing and publication industry.  Driven by Commitment and utmost sense of dedication, Ofili states that the reception of Online publication has been great and also mentions the emergence of a new market in the Northern part of Nigeria. Asked if there are any challenges which poses a hindrance to online writing and publishing in the North?  Ofili  negates such perce...
Post a Comment
Read more
RUFAI OSENI: KNOWING THE MAN Rufai Oseni                                                     INTRODUCTION Call him a multi talented personality and you would absolutely be right. We took time out to get close and personal with the man behind the distinct voice that leaves you glued to your radio, Inspiration 92.3 fm. Admin: Who is Rufai Oseni? Rufai Oseni : Rufai Oseni is a man of many parts author of 3 books and studied animal physiology and, a radio presenter of over 15 years (having worked with the BBC and other media organizations). An actor and a public speaker. I started my career of 15 years ago working at JFM radio warri, I have since worked in over 5 Radio stations across the 6 geopolitical zones of Nigeria. II also had a brief time working with the BBC in Bush house London and I still cover Nigerian stories for the BBC in Bristol...
Post a Comment
Read more
MANSION AND EDIFICE.. By emi1010.   New! About How to earn Agriculture Arts & Education Business & Money Communications & Entertainment Engineering Family & Holidays Food & Kitchen Looking for Aid Health & Lifestyle Hobbies & Handiworks IT & Computer Science Law Medicals Motivationals News & Politics Personal care & Beauty Relationship & Marriage Religion & Principles Social sciences Sports & Fitness Stories & Poems Science & Technology Vehicles & Mobility USMLE Others Questions & Answers Edit Post MANSIONS AND EDIFICE   Emy1010     11 months    856   MANSIONS AND EDIFICE The emphasis these days in constructing massive structures in the body of Christ as the 'House of GOD' while billions are hungry, jobless and homeless is so confusing. These...
Post a Comment
Read more