CMN 140 Lecture 8: CMN 140 - Lecture 8
Document Summary
Lecture 8 - 2/9/17 - sports - chapter 19. Some ppl think the money cycle is destroying sports while other ppl think that it is improving sports. Athletic talent demands higher salaries plus bonuses each year (short supply of athletic talent, takes advantage of asking for higher salary/bonuses) Mbl: ~1950"s ted williams thought he was paid too much; he demanded a pay cut from his ,000 contract. Nba: michael jordan earned million in 1995 compared to 2012 kobe. Bryant"s . 5 million contract today salaries are escalating dramatically. To help control the rise of salaries & to try to create parity (equal pay) among teams, several professional sports have established salary caps for teams in their leagues. These caps are often ignored because they find loopholes to invest in star players who increase the value of franchise (win, attract fans/tv viewers) Athletes also command large fees for endorsing products. Ex: chart - top earning athletes in 2012.
