Professional Sports – Coursework Example
Professional Sports s Professional sports Professional sports are a cropping trend in contemporary settings, especially in major metropolis. There are various corresponding implications for such cities for hosting or accommodating such sporting activities (Jozsa, 2010). A classical instance is the claims by advocates dealing with stadium subsidies that teams in professional sports contribute significantly to local economies by generating consumption externalities and positive production. Nonetheless, professional sports may have detrimental effects on economies of relevant cities, especially during low seasons (Lee et al, 2008). Professional sports are beneficial and disadvantageous; nevertheless, it would be prudent for the main cities to promote such sports.
Professional sports generate substantial revenues for corresponding cities. Moreover, the jobs arising from such sports are also a source of income for citizens. For instance, the city of Houston invested 36 million in a Dynamo soccer team, which culminated into the generation of 300 jobs for the residents. Investment in stadiums would yield appreciable profits through pecuniary upsurges in taxes jobs and incomes (Lee et al, 2008).
On the contrary, not all residents in the main cities fancy professional sports. Thus, the authorities may invest in promoting the sports yet only few people grace such occasions (Jozsa, 2010). Consequently, revenues collected would not be able to cover the costs incurred in setting up stadiums and other promoting activities.
In conclusion, professional sports are refined avenues for the generation of income from recreational activities (Jozsa, 2010). As such, renowned businesspersons are currently purchasing professional teams because of the attached benefits. Although such steps carry many risks, the corresponding benefits are not only attractive to the businesspersons, but also beneficial to the overall economy.
Jozsa, F. P. (2010). Major league baseball expansions and relocations: A history, 1876-2008. Jefferson, N.C: McFarland & Co.
Lee, R.D. & Johnson, RW., Joyce, P.G. (2008). Public budgeting systems (8th ed.). Sudbury, MA: Jones and Bartlett. ISBN: 97807637466817