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