When is the economic meltdown going to affect sports salaries

[PromoTheRobot]

The New York Yankees are doing what the always have done...spending obscene amounts of money on players. Jason Peters will certainly ask for an obscene deal. Jerry Jones had to borrow gazillions to build his Taj Mahal. So are sports immune to the economic meltdow, or is this where our bailout money is going?

 

PTR

[Wooderson]

This offseason has made me hate the yankees even more than before. What are all the small markets supposed to do if the Yankees keep offering obsurd contracts to these players? It is unbelievable what they are doing in an economic recession. I've never been a Red Sox or Rays fan, but I will sure be rooting for them over the Yanks.

[VOR]

I'm a Yankees fan, but this is ridiculous. As is asking for $1.2B (final total) for their new stadium.

[buckeyemike]

So all the pressure is on the Yankees to win 120 games and sell out every single game in the new Yankee Stadium.

 

My guess is they win closer to 98, re-take the AL East, and choke in the playoffs. Like they have every year since 2004, except for 2008, when they didn't even go the playoffs.

 

I don't know when the Steinbrenners will learn that the better way to win titles is building through the farm system. The best thing to happen to the Yanks since 1990 was George getting suspended. It allowed the team to rebuild their minor league system, and that resulted in the success of the late 90s.

 

Note to Hal: Every dime you spent on Sabathia, Burnett, and Teixiera would have been much better served going into your farm system. By the time CC and Tex are done in eight years, they will be shadows of what they once were. And Burnett's arm isn't going to last more than three more seasons.

[buckeyemike]

Jerry Jones had to borrow gazillions to build his Taj Mahal.

 

Thanks, Promo. This is another issue I wanted to talk about.

 

I mentioned the other day that Jerry Jones is literally mortgaging his team to build this new palace in Arlington. If you haven't seen the pics, it is spectacular. I also believe that he's reached the apex on how luxurious sports facilities can get. But, there are several things wrong with what he is doing.

 

First of all, I understand this facility has "sideline suites" that people will be paying hundreds of thousands of dollars for. If this is true, are you kidding me? Anyone who has ever sit in the first few rows of a stadium knows that you have a hard time seeing plays because the players and sideline staffs are in the way of the action. You're much better off being about 10 rows up, and higher. Will the rich people and corporate stiffs who bought these suites be complaining because they can't see anything?

 

Second, this is yet another case of pricing the average fan out of the stadium. I have no love for Cowboys fans, but they have been faithful to this team for nearly five decades. Those over 55 remember sitting in the Cotton Bowl. Then, they moved to Texas Stadium, a palace for 1971. Now the Cowboys are closer to Fort Worth than Dallas. That's approximately where the cheap seats in the Jones Mahal will be too.

 

Third, I wonder about the outright opulence when millions of people in this country are struggling. It's the same thing with the Yankees, with their new park and the free-agent signings. The attitude almost seems to be like a middle finger pointed straight at the middle class...or what's left of it. I understand that these stadiums were planned, and started construction, prior to the current economic crisis. But, it seems awfully gauche to me.

 

Fourth, Jerry Jones is on the hook for cost overruns. I've seen that such overruns are now in the $500 million dollar range. Does Jones really have this kind of money? Has he worked in any other field since buying the Cowboys 20 years ago? That may result in a financial disaster for Jones if the overruns get any higher. I have no love for Jones either (I blame him mostly for the NFL focusing on corporate $$$ rather than the average fan); it just doesn't seem fiscally sound. What he's trying to do is build a permanent monument to himself.

 

I remember when the Orange Bowl and Tulane Stadium used to be good enough for NFL teams. Not anymore.

[PromoTheRobot]

Yes but what happens if they dion't sell out every luxury box and seat? When does the financial house of cards in sports fall down?

 

PTR

[buckeyemike]

Yes but what happens if they dion't sell out every luxury box and seat? When does the financial house of cards in sports fall down?

 

PTR

 

I don't know. I figure if the economic crisis lasts through 2009, you're going to see some major problems with the sports leagues. Arena Football already cancelled next season. I think if a team or two is forced to fold or declare bankruptcy, that might get people's attention. We might not be very far from that, I'm afraid.

 

Some of these teams apparently took financial management lessons from Mr. Madoff.

[Gordio]

Yes but what happens if they dion't sell out every luxury box and seat? When does the financial house of cards in sports fall down?

 

PTR

 

 

It is going to happen soon Promo i/m/o. Either that or your going to have nothing but corporate big wigs that could care less about the team filling the stadium. It is really sad what is happening to professional sports. I had customer in NYC the other day telling me about his situation, 25 year season ticket holder to the Yankee games. He said he has had 4th row third base side seats for 10 years now. Says he gave up the seats this year because they increased so much with the new stadium & did not feel sitting in the upper decks. You could tell in his voice he wasnt so much angry as he was generally hurt by it. It is just not right.

[loyal2dagame]

Third, I wonder about the outright opulence when millions of people in this country are struggling. It's the same thing with the Yankees, with their new park and the free-agent signings. The attitude almost seems to be like a middle finger pointed straight at the middle class...or what's left of it. I understand that these stadiums were planned, and started construction, prior to the current economic crisis. But, it seems awfully gauche to me.

 

buckeye, i dont understand why anyone would look at any sports teams like this. it sounds like you are a yankee hating sox fan or something(i'm kidding). the yankees can print their own money if they choose. george steinbrenner made them that way. sucessful. the yanks sell more merchandise than just about any other pro sports team in the WORLD. off of those sales alone, they could afford to spend the same money on players as they do now.

 

the economy is still good for them, so why should they not spend the money?

 

if the company you work for started to dominate it's industry today, and all other companies in the same industry could not keep up with yours due to a better product and clients with deep pockets, would you feel bad? would you feel worse if your company that sits on top of the mountain now decided to give you a huge raise because they can?

 

i dont hate on the yanks, any sports team or company for using capitalism leagally to get ahead.

[buckeyemike]

buckeye, i dont understand why anyone would look at any sports teams like this. it sounds like you are a yankee hating sox fan or something(i'm kidding). the yankees can print their own money if they choose. george steinbrenner made them that way. sucessful. the yanks sell more merchandise than just about any other pro sports team in the WORLD. off of those sales alone, they could afford to spend the same money on players as they do now.

 

the economy is still good for them, so why should they not spend the money?

 

if the company you work for started to dominate it's industry today, and all other companies in the same industry could not keep up with yours due to a better product and clients with deep pockets, would you feel bad? would you feel worse if your company that sits on top of the mountain now decided to give you a huge raise because they can?

 

i dont hate on the yanks, any sports team or company for using capitalism leagally to get ahead.

 

This is actually a decent point. BTW, in the interests of full disclosure, I'm a Cleveland Indians fan, so naturally I hate the Yankees. And the Bosox too.

 

I don't begrudge the Yankees their success. They are trying to get ahead. My point is, they have that new palace, and the ticket prices have increased so much that the average fans can only go to 2-3 games a year instead of 10. What happens if the economy gets any worse in 2009, or if the economic crisis extends into 2010, and the corporations supporting the Yankees begin to fail? The Yankees will be stuck with smaller crowds and huge contracts.

[loyal2dagame]

What happens if the economy gets any worse in 2009, or if the economic crisis extends into 2010, and the corporations supporting the Yankees begin to fail? The Yankees will be stuck with smaller crowds and huge contracts.

 

their are some things in this world that are recession proof, and the yanks are one of them.

 

now if there is a depression, all bets are off

[Gordio]

This is actually a decent point. BTW, in the interests of full disclosure, I'm a Cleveland Indians fan, so naturally I hate the Yankees. And the Bosox too.

 

I don't begrudge the Yankees their success. They are trying to get ahead. My point is, they have that new palace, and the ticket prices have increased so much that the average fans can only go to 2-3 games a year instead of 10. What happens if the economy gets any worse in 2009, or if the economic crisis extends into 2010, and the corporations supporting the Yankees begin to fail? The Yankees will be stuck with smaller crowds and huge contracts.

 

 

I do not begrudge the yankees either. Who I do feel bad about is the diehard fan that they are pricing right out of the stadium. Everything has a price Yankee fans, but a good portion of you will not be able to afford to take your family to the games anymore. It is the same thing with the Mets. Even though I live in WNY, I have gotten a 10 pack to Shea for the last 8yrs. I did not do it this year. Prices are too expensive & I do not feel like sitting in the upper deck. Shea may have been a dump but it was an affordable dump. I am there to watch a ballgame, not to get 1st class service by a 5 star restaurant.

[buckeyemike]

now if there is a depression, all bets are off

 

For everyone, I'm afraid.

[The Poojer]

something tells me the Yankees arent concerned about the "average fan", my guess is they want to attract those with deeper pockets that can afford to spend money time and time again...ie, corporate sponsors...sad as that may sound to you and I, the Yankees are a business and their only goal is to maximize profits, its not even about winning world series, its about profit....I am a life long, die hard yankee fan, by the way.

 

My point is, they have that new palace, and the ticket prices have increased so much that the average fans can only go to 2-3 games a year instead of 10.

[loyal2dagame]

on the positive side, sports teams are like the titanic. when the ship starts to sink, the rich are the first to get off the boat.

[loyal2dagame]

something tells me the Yankees arent concerned about the "average fan", my guess is they want to attract those with deeper pockets that can afford to spend money time and time again...ie, corporate sponsors...sad as that may sound to you and I, the Yankees are a business and their only goal is to maximize profits, its not even about winning world series, its about profit....I am a life long, die hard yankee fan, by the way.

 

pooj,

i think the yanks believe the average fan for them is the person who watches the games at home and buys their hats, jerseys, ect. the above average fan is the person who does all the above and goes to games. the high end fan is the person who could care less about them winning or losing, wears a suit to the game, and pays hundreds of thousands per year to go to the stadium for the games and barely watches the team on the field.

[The Poojer]

its an unfortunate reality for all of us that scrape by and would kill to be able to attend games, superbowls, world series games etc....but we arent where the big money is....oh well, i guess i should have planned better from the very start. I would love to be one of the high end fans the DOES care what happens on the field...course with the bills, maybe not being able to afford that and get kicked in the nuts week after week is a blessing in disguise

 

pooj,

i think the yanks believe the average fan for them is the person who watches the games at home and buys their hats, jerseys, ect. the above average fan is the person who does all the above and goes to games. the high end fan is the person who could care less about them winning or losing, wears a suit to the game, and pays hundreds of thousands per year to go to the stadium for the games and barely watches the team on the field.

[Stussy109]

When the fans stop filling the seats and buying the merchandise. We are the fuel for their ever growing engine.

[KD in CA]

Yes but what happens if they dion't sell out every luxury box and seat? When does the financial house of cards in sports fall down?

 

PTR

 

1) When people stop shelling out their hard earned money to watch a bunch of overpaid, pampered, spoiled a-holes who don't give a damn about anyone but themselves (i.e., Jason Peter or Plaxico Burress).

 

2) When people stop reelecting politicians who hand our tax dollars to billionaires for construction of another brand new sports palace because the 20 year old one down the street isn't shiny enough.

 

3) When the US gov't stops handing out money to failed business like the US automakers who prop up the system by blowing billions on TV ads during football games.

 

[/end rant]

[buckeyemike]

1) When people stop shelling out their hard earned money to watch a bunch of overpaid, pampered, spoiled a-holes who don't give a damn about anyone but themselves (i.e., Jason Peter or Plaxico Burress).

 

2) When people stop reelecting politicians who hand our tax dollars to billionaires for construction of another brand new sports palace because the 20 year old one down the street isn't shiny enough.

 

3) When the US gov't stops handing out money to failed business like the US automakers who prop up the system by blowing billions on TV ads during football games.

 

[/end rant]

 

1) Bravo!

 

2) I heard on the radio yesterday that both the Atlanta Falcons and the St. Louis Rams want new stadiums. The Georgia Dome opened in 1992. The Edward Jones Dome opened in 1995. So, let me get this straight: the luster apparently falls off of new stadiums after 15 years. What's happening is the team owners are seeing the new palaces going up at the Meadowlands and in Arlington, TX; and now they're jealous. It's like wanting the shiny new Ferrari that the neighbor has when your old Corvette is not only still functional, but very attractive.

 

These stadiums aren't even friggin' paid for yet!!! :angry:

 

3) The bailout was necessary to save jobs and probably prevent a depression, but I get what you're saying there. New business models need to be made (yesterday) by the automakers. Paying for $8 million dollars worth of commercials to air during the Super Bowl isn't going to do the trick.