Wednesday, April 1, 2009

Professional Sports: Where Bad Politics, Bad Economics And Runaway Egos Mix To Entertain The Masses

Here's an interesting little factoid that came across on Bloomberg: The average price of a ticket license for U.S. sports teams fell 20% from last year to this.

Of course, I've always been amazed that anyone who could put their pants on by themselves in the morning would pay thousands of dollars for the right to buy an overpriced ticket, but as this is one of the few free markets being allowed to operate in our Brave New World, I have to get out of the way.

Here's a question for Mets fans: Will C have to mark licenses at Bailout Park to the market? And if so, should we exempt them from m2m accounting on the value of those licenses?

Here in KC, our new downtown arena is the Sprint Center; Sprint regularly seems destined for history's dustbin. In Chicago, the Tribune, which owns the Cubs (for now), is in Chapter 11, and the Wrigley corporation, for whom the park is named, is laying off people. The White Sox play in U.S. Cellular Park. No bets are being taken on the long-term viability of a small telecom operator. The Bulls and Black Hawks play in the United Center, named after the perennial visitor to bankruptcy court. Of course, I could go on all day with the examples nationwide.

Sports: Where bad politics, bad economics and runaway egos mix to entertain, and ultimately rip off, the masses. Play ball!

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