Professional Athletes' Salaries
In today's society, the American people can't get enough of their favorite teams and athletes. Entire cities are infatuated with these teams and as a result, people spend much of their time and money watching and rooting, hoping for a victory. There is nothing wrong with enjoying and marveling at the talent of these professional athletes, but what happens with all these resources that go into the sports? They go straight to the players. Although our society idolizes and cheers on our favorite athletes, they are significantly overpaid.
The amount of money some of the best athletes make in a year is astonishing. Professional baseball player, Alex Rodriguez, will have made 33 million dollars this year, just based on his salary, not including endorsements (Freedman). Tiger Woods made almost 23 million dollars in his winnings from various golf tournaments in 2009, and add on another 105 million from his endorsements and you get the highest paid athlete in the world (Freeman). Endorsements are another subject entirely, but it makes you understand how important it is for companies to have their logo on someone's hat, or have a big star in their commercial. Keep in mind not all athletes are paid in millions, we are talking about some of the best in the most popular sports. That being said, the average MLB player's contract will be around three million dollars, and the minimum being 400 thousand dollars (MLBPA). This means a player sitting on the bench the entire season will make nearly ten times what the average teacher will make.
The reason all of these players get paid so much is because all professional sports leagues are essentially a business. And with all these countless numbers of sport fans (myself included), business is booming. It is important to understand how the business works when you need to fix a problem. The Managers and Owners want their team to do well to bring in the fans, which in turn brings in the money. If a...
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