Monday, February 4, 2013

Field of Schemes Excerpt: Chapter 3 (Ball Barons)

I am going to try to get caught up on my publishing excerpts from the Field of Schemes, a book I received on Christmas and am making way through:
When discussing sports finances, the first thing to understand is that the numbers literally don't add up.  Without an understanding of the inner financial workings of the sorts industry, it's impossible to comprehend the most obvious conundrum of modern pro sports.  Even as revenues soar to record levels, team owners invariably insist that they are losing money hand over fist....

None of this is expected or unusual, especially in an industry faced with relatively powerful unions ready to leap on any scrap of profit growth to boost their own salaries.  But unions and other skeptics can point to a statistic that belies the owners' poverty claims:  Sale prices of teams are soaring, and even a break-even or money-lowing club is likely to yield a huge financial windfall for its owners once they decide to put it up for sale....

The book Field of Schemes can be ordered through this link. The website "Field of Schemes" is also worth checking out.

No comments: