The Economics Of Baseball Essay

1031 words - 4 pages

The Economics of Baseball

The economics of baseball has grown since the beginning and has become more complicated every year. Baseball players are now making millions of dollars to do something that they love and enjoy. It's not their fault the money they can receive has reached the million mark, even for some of the less talent of ball players. This has happened to all sports, but especially to the American pastime. Baseball is more of a business than just a game and many things have made it this way. A lot of reasons have contributed to the rising salaries there is today and it will not stop there. The amount of baseball contracts will keep rising each year.
One of the most notable people to receive an unbelievable contract was Alex Rodriguez. He singed the biggest contract in baseball history with Texas Rangers for an estimated 252 million dollars over ten years. The owner of the Rangers, Tom Hicks, believes that even by paying the superstar 25 million a year, there will still be a big profit. A surprising point here is that even though the Rangers have to pay that much money to just one player, ticket prices have not been raised. The team is one of the few that didn't raise ticket prices. A lot of the revenue for the Rangers, as well as every other team, will come from TV contracts, media coverage, endorsements, and by selling out every night of the season.
Tom Hicks knows that just playing good baseball and winning won't have the biggest profit. He is in the process of developing 227 acres near the Ranger's ballpark and by having a high priced player like Rodriguez many people will pass this on the way to the stadium(Rangers). This increases the possibilities for his non-baseball venture. Hicks' believes the team revenue will top 150 million dollars after the first year. Also, Major League Baseball's new television contract with the team will add 14 million and another 25 million will come from the team's new cable deal with Fox Sports(Rangers). Many people believed he was crazy to spend this much money on one player, but Tom Schieffer stated that "Hicks has a good understanding of the economics of sports"(Rangers).
Alex Rodriguez is just one example of this growing business and many other ball players are getting paid an unreasonable amount. Most teams to take care of this have raised ticket prices. Two-thirds of the thirty teams in MLB have raised the cost of a ticket for the 2001 season. Baseball tickets are the cheapest among professional sports, but they're catching up(MLB). The average ticket in 2000 was 16.65 dollars, according to Team Marketing Report(MLB). Now, it costs a fan twenty dollars for a bleacher seat at Wrigley Field , 31 dollars to watch the Yankees from the cheap seats, and forty to sit in the grandstands at Fenway Park(MLB).
The rise in ticket prices has contributed to...

Find Another Essay On The Economics of Baseball

The Physics of Baseball. Essay

2455 words - 10 pages baseball can be looked at by examining the many different elements of the game, such as: the aerodynamics of the spinning baseball, overall hitting science, the dynamics of the baseball-bat collision, and the peculiar action of the knuckleball.Over a hundred years ago, Sir Isaac Newton published three laws of motion. His laws provide explanations for observations about motion. We usually do not see these in our everyday life because other

The Physics of Baseball Essay

1064 words - 4 pages The fastest pitch ever officially recorded in a major league baseball game was 100.9 mph set by Nolan Ryan in 1974. This all happens by a few charismatic events that take place while throwing a baseball. I will explain a few of these today. First, the air dynamic behind the curve ball and second how to throw a curve ball. This will entail the proper grip on the ball and also the proper arm and wrist movement. My ultimate goal of this project is

The Game Theory of Baseball

2488 words - 10 pages Decision-making in Baseball Baseball is a great game to analyze from game theory perspective because of the scale of strategic decisions that are continuously made on the fields and each play. In every play, there are various players (baseball players, coaches, team managers and owners) with different goals and payoffs, and thousands of pitch-by-pitch decisions are made in course of an at-bat, inning, game, and season. Major League Baseball

The Economics of Information

1379 words - 6 pages Various Aspects of Economics of Information 3.1 Economics of information in Education According to Farid (2007), economics of information is based on the concept that quality information is a scarce and valuable resource. The production and dissemination of information in education constitute two major economic activities, with associated costs and benefits. The value of information depends on its degree of accuracy, completeness

The Change of Baseball Over the Years

3853 words - 15 pages The Change of Baseball Over the Years Missing Works Cited From the sandlot to stadiums seating over fifty thousand people, the game of baseball has provided people of all ages with a common foundation; a sport we can all call our national pastime. Though its concept sounds simple, a game using a ball and a bat, millions of people all over the world have sought involvement in it by either playing at some level, or just sitting back and

The Historical Significance of Negro Baseball Leagues

1147 words - 5 pages Negro baseball leagues have a deep historical significance. Racism and “Jim Crow” laws encouraged segregation of African-Americans and whites. Arguably, the players on the negro baseball leagues were some of the best ever. Even today they are still being recognized and honored for their wonderful contribution to baseball as a whole. It started when major league owners had made a “gentleman’s agreement” to keep blacks from playing in the game

Baseball: The Benefits of Joining Good Players

878 words - 4 pages As spring takes its sweet time getting here, many people are starting to think about something that won't cross their minds again until mid-September once summer arrives. Yep, baseball season is just around the corner. Most years casual sports fans view of baseball as three big events and a bunch of games in between. The three most notable times for baseball are opening day, the all-star game and playoffs. Everything else is 13-inning

The randomness of love and baseball

749 words - 3 pages The Randomness of Love and Baseball Generally the terms love, baseball, immigration, and poetry are not mentioned within the same text. However, according to Andrei Codrescu, author of the essay "A Kind of Love", all these subjects are related. The only problem is that Codrescu fails to make these connections obvious to his audience. He also fails in making the purpose of his essay known and therefore is unsuccessful in whatever goal he intended

The Economics of The Outdoors

1199 words - 5 pages Chapel Talk November 20, 2014 Good Morning: How do we satisfy unlimited wants with limited resources? This is the primary goal of economics. Although I'm not talking about solving world hunger or deterring the energy crisis (you can talk to Mr. Ames about those issues). Now Mr. Ames did throw out a profound line earlier this year. He said, "Economics is the key to not failing life" and I took that to heart, because, well, one, I didn't want to

Economics - The study of Microeconomics

675 words - 3 pages According to the text Economics is defined as "the study of how human beings coordinate their wants and desires, given the decision-making mechanisms, social customs, and political realities of the society". One of the areas of study within the discipline of Economics is the study of Microeconomics. The text defines "Micro economics as the study of individual choice, and how that choice is influenced by" two laws control these individual

The Return of Depression Economics

1251 words - 5 pages Paul Krugman states that his goal is to develop a theory of how the currency panics of Asia spread around the world, and how to prevent this from happening again The Return of Depression Economics explains how the liquidity trap and currency panics experienced by the Asian and Latin American economies over the past decade resemble the Great Depression. Krugman cautions that we are not immune to the problems experienced by those economies, and

Similar Essays

The History Of Baseball Essay

2865 words - 11 pages The History of Baseball Americans began playing baseball on informal teams, using local rules, in the early 1800s. By the 1860s, the sport, unrivaled in popularity, was being described as America's "national pastime." Alexander Joy Cartwright of New York invented the modern

The History Of Baseball Essay

6129 words - 25 pages The History of Baseball Baseball in America is about as common as alcohol in college , it is everywhere and participated by everyone. Children and adults play baseball in small towns and large cities and professionals play it throughout the country. The game of baseball is America's pastime and it popularity is enormous. The beginning of

The Beginning Of Baseball Essay

866 words - 3 pages The beginning of baseball has had it twist on who started the game and who made the rules to the game. The sport we know as baseball was original name stickball before it became an organized sport. Baseball was a game that many just played as part of their moderate exercise for recreational purpose or time and they used the game to stay in shape. It was usually a middle class white -collar worker who played the game. Many give credit to Abner

The Process Of Baseball Essay

962 words - 4 pages The Process of Baseball Season Preparation 


Baseball has always been America's natural past time The Process of Baseball Season Preparation 


Baseball has always been America's natural past time. Many fans love watching baseball but do not realize how hard it is to prepare for a season. Most fans think the players just show up on the first day. I think this belief is completely false. I feel that preparing for a baseball