Last year, billions of dollars were lost and thousands of people lost their homes and jobs. The economic crisis' efffects are felt not only in the US but also in other countries, such as China and other US-dependent nations.
Although it seems like sports organizations such as the NBA, MLB and NFL are immune to the current economic crisis, they are actually very vulnerable to the economy's fluctuation; they are not "recession-proof". If you watch a basketball game on tv, you'll notice that the arenas look very empty. Game tickets and cable subscriptions are just too expensive for many fans.
>Major League Baseball's Internet division laid off about 4.5 percent of its staff.
> Many NASCAR teams have laid off employees, and a few team owners have quit.
> The LPGA Tour has 31 events scheduled for 2009, three fewer than 2008, and about $5.25 million less in prize money than the previous year.
> The PGA Tour lost one 2009 tournament when Ginn sur Mer Classic officials said the event wouldn't be held.
> Frontier Airlines recently ended its sponsorship of the Denver Nuggets, Colorado Avalanche, the Crush and Colorado Mammoth, all teams owned by Kroenke Sports.
> Many NASCAR teams have laid off employees, and a few team owners have quit.
> The LPGA Tour has 31 events scheduled for 2009, three fewer than 2008, and about $5.25 million less in prize money than the previous year.
> The PGA Tour lost one 2009 tournament when Ginn sur Mer Classic officials said the event wouldn't be held.
> Frontier Airlines recently ended its sponsorship of the Denver Nuggets, Colorado Avalanche, the Crush and Colorado Mammoth, all teams owned by Kroenke Sports.
>The NBA has eliminated about 80 jobs in its U.S. division which is about 9% of its workforce.
With the current financial crisis, it'd be smart to save whatever money you have instead of spending it on tix just to see Kobe kill the Warriors...
here are some links - http://www.coloradoan.com/article/20090105/NEWS01/901050328
1 comment:
I do believe that the economic crisis has a major effect towards the entire economy. And yes I agree that even Basketball and other national sports have breakdowns as well. Even car companies and other major corporation are going through a financial crisis in the struggle of simply staying business. I think that the economy not only has an impact on the world, but also for our future generation. Overall I think that all these news regarding our economic crisis has done nothing but reporting bad news for the media to just stay in business...I just hope Obama can make even a slight difference in the next couple of years.
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