Timing is everything...

With the state of today's economy and everyone looking for ways to stretch and save their dollars, should sports fans have reason for concern for their favorite team? Can the networks continue to shell out the mega bucks for broadcast rights when their bottom line is also being affected by the declining advertising dollar?

Forbes.com reports that at the end of 2003, there was not one professional sports team worth a billion dollars. By the end of 2008, there were 24. Oh by the way, just for the record, your home town Dallas Cowboys and team owner Jerry Jones, presently is runner-up on that list behind first place Manchester United Soccer Club in overall team value.

Although Jones is months away from debuting his new 80,000 seat, $1.3 billion-dollar stadium, the timing couldn't be worse for Jones inking his high dollar sponsor for stadium naming rights.

These financial concerns aren't just unique to the Cowboys and the NFL, the New York Yankees recently hired a company to help try and sell the remaining luxury seats in their new $1.3 billion stadium.

On the hardwood, Herb Simon, owner of the Indiana Pacers says that his team could potential loose revenue close to $30 million.

Speaking of financial concerns, word has it that the Cleveland Cavaliers in hopes to keep superstar LeBron James when his current contract expires in 2010, has designed their new eight-month payment plan.

For those of you old enough to remember, perhaps the days of the old "lay-away" plan might not be far away.

1 Comments

Hank said:

This is interesting. I'm not sure if it's good or bad they're sharing the misery.

March 23, 2009 9:45 PM

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