HONR101: History and Culture of Basketball November 30, 2011.

HONR101: History and Culture of Basketball

November 30, 2011

Gate receipts Concessions / merchandise Sponsorships Media broadcasting

The 2010 Conference USA Men’s and Women’s Basketball Tournaments brought in more than $4 million to Tulsa’s economy

The 2011 NCAA Tournament Men’s Regional was expected to bring in as much as $6 million to the city of Tulsa

College basketball is a very big deal not only to the student athletes that decide the games and fans that buy the tickets, but also to the cities and communities that are involved in hosting these marquee events

The NCAA Tournament is estimated to cost U.S. employers as much as $1.8 billion in unproductive wages during the first week of action due to employees filling out brackets, studying pre-game news, and keeping up with scores on Thursday and Friday during first round day games

An estimated $2.5 billion is wagered on the Men’s NCAA Basketball Tournament annually (with $100,000 being wagered legally in Las Vegas and $2.4 billion being wagered illegally across the country via bracket mania)

CBS paid $6 billion for exclusive rights to broadcast all games of the NCAA Men’s Basketball Tournament (the current 11-year agreement expires at the conclusion of the 2012-13 season)

Rumors have circulated that that ESPN (and others) are looking to outbid CBS for the next long-term Men’s NCAA Tournament contract

You could easily assume that the new contract (if for say five years in length) would be for at least $10 billion, if not for much, much more given how incredibly popular March Madness has become

Annual NBA player salaries range from $788,872 to $25,244,000

http://hoopshype.com/salaries.htm

The greatest basketball player of all time was underpaid for most of his career, only earning $2-3 million dollars a season

This changed near the end of his career however. The Bulls rewarded Jordan for his stellar pay with the highest salary in NBA history. Jordan earned over $30 million dollars during the '96-'97 season, and over $33 million dollars during the '97-'98 season

No NBA player since has ever come close to topping Jordan's pay for the '97-'98 season

Seasons Station Contracts / Amount

1979-80 to 1981-82 USA $1.5 million/3 years

1982-83 to 1983-84 USA/ESPN $11 million/2 years

1984-85 to 1985-86 TBS $20 million/2 years

1986-87 to 1987-88 TBS $25 million/2 years

1988-89 to 1989-90 TBS/TNT $50 million/2 years

1990-91 to 1993-94 TNT $275 million/4 years

1994-95 to 1997-98 TNT/TBS $397 million/4 years

1998-99 to 2001-02 TNT/TBS $840 million/4 years

2002-03 to 2007-08 TNT $2.2 billion/6 years

In Orlando, there are 550 hourly food and concession workers, ticket-takers, ushers, security personnel, and janitorial personnel inside the arena, not to mention the countless local businesses surrounding the area

Sacramento officials estimate that its NBA arena employs about 700 workers, including 550 part-time employees

Orlando is scheduled to host the 2011-12 NBA All-Star game. Over the All-Star weekend, there would be an $80 million to $100 million economic impact to the city of Orlando

http://journalrecord.com/2010/03/14/the-economics-of-the-ncaa-mens-basketball-tournament/

http://financialedge.investopedia.com/financial-edge/0810/Top-7-Pro-Athlete-Contracts.aspx#axzz1fCdxE1hz

http://www.theatlanticcities.com/jobs-and-economy/2011/10/7-cities-most-lose-nba-lockout/371/

http://www.insidehoops.com/nba-tv-contracts.shtml