Pay Dirt

Name: Pay Dirt
Price: 110 AUD
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ISBN: 9780691015743

The Business of Professional Team Sports

James P. Quirk, Rodney D. Fort

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English

Princeton University Press
17 June 1997

Economics; Sport & leisure industries

Why would a Japanese millionaire want to buy the Seattle Mariners baseball team, when he has admitted that he has never played in or even seen a baseball game? Cash is the answer: major league baseball, like professional football, basketball, and hockey, is now big business with the potential to bring millions of dollars in profits to owners. Not very long ago, however, buying a sports franchise was a hazardous investment risked only by die-hard fans wealthy enough to lose parts of fortunes made in other businesses. What forces have changed team ownership from sports-fan folly to big-business savvy? Why has The Wall Street Journal become popular reading in pro sports locker rooms? And why are sports pages now dominated by economic clashes between owners and players, cities with franchises and cities without them, leagues and players' unions, and team lawyers and players' lawyers? In answering these questions, James Quirk and Rodney Fort have written the most complete book on the business and economics of professional sports, past and present.

Pay Dirt offers a wealth of information and analysis on the reserve clause, salary determination, competitive balance in sports leagues, the market for franchises, tax sheltering, arenas and stadiums, and rival leagues. The authors present an abundance of historical material, much of it new, including team ownership histories and data on attendance, TV revenue, stadium and arena contracts, and revenues and costs. League histories, team statistics, stories about players and owners, and sports lore of all kinds embellish the work. Quirk and Fort are writing for anyone interested in sports in the 1990s: players, players' agents, general managers, sportswriters, and, most of all, sports fans.

By: James P. Quirk, Rodney D. Fort
Imprint: Princeton University Press
Country of Publication: United States
Edition: 2nd Revised edition
Dimensions: Height: 254mm, Width: 197mm, Spine: 33mm
Weight: 822g
ISBN: 9780691015743
ISBN 10: 0691015740
Pages: 583
Publication Date: 17 June 1997
Audience: Professional and scholarly , College/higher education , Undergraduate , Primary
Format: Paperback
Publisher's Status: Active

List of IllustrationsList of TablesPrefaceCh. 1Introduction1Ch. 2The Market for Sports Franchises23Ch. 3Taxes, Taxes, and More Taxes88Ch. 4Stadiums and Arenas125Ch. 5The Reserve Clause and Antitrust Laws179Ch. 6Why Do Pro Athletes Make So Much Money?209Ch. 7Competitive Balance in Sports Leagues240Ch. 8Rival Leagues and League Expansion: Baseball, Basketball, and Hockey294Ch. 9Rival Leagues: The Great Football Wars333Postscript363Appendix to Chapter 3366Appendix to Chapter 6369Appendix to Chapter 8374Data Supplement377Ownership Histories378Attendance Records479Radio and Television Income505Bibliography513Index of Names531Index of Court Cases538

James Quirk is retired Professor of Economics at California Institute of Technology. He is a widely recognized expert on the economics of sports, and is the author of Minnesota Football: The Golden Years, 1932-1941. Rodney D. Fort is Associate Professor of Economics at Washington State University. He has written for numerous sports publications, and is the President of the Local Youth Baseball Association.

Reviews for Pay Dirt: The Business of Professional Team Sports

One of Choice's Outstanding Academic Titles for 1993 ""Call this volume The Wealth of Nations of professional sports. Unrivaled in scope, the [book] should stand for quite some time as the basic work from which all descendants will spring.""--Steve Gietschier, The Sporting News ""The book is written in a reader-friendly fashion, is chock-full of anecdotes, is conceptually sound, and is bulging with useful data. Pay Dirt is a solid scholarly contribution to the literature on the economics of sports.""--Gerald Scully, Journal of Political Economy