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Economics In Professional Sports Essay

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Economics in professional sports

Economics in the branch of knowledge concerned with production, consumption and transfer of wealth. In this IRP we will look into the connection between economics and professional sports. Professional sports only include leagues and tours in which the players are paid. In this case the Olympics, Commonwealth games and Asian games are not included.
Does the Barclays Premier League play a big part in the GDP of England?
The Barclays Premier league (BPL)
The Premier League is an English professional league for men's association football clubs. At the top of the English football league system, it is the country's primary football competition. Contested by 20 clubs, it operates on a system of promotion and relegation …show more content…

It is one of the most widely supported football teams in the world. After being floated on the London Stock Exchange in 1991, the club was purchased by Malcolm Glazer in May 2005 in a deal valuing the club at almost £800 million, after which the company was taken private …show more content…

It was built in 1910 and can hold upto 75,731 people. It cost £90,000 to construct back in 1910 which is now worth about £8 million. Manchester United has been described as a global brand; a 2011 report by Brand Finance, valued the club's trademarks and associated intellectual property at £412 million – an increase of £39 million on the previous year, valuing it at £11 million more than the second best brand, Real Madrid. In July 2012, Manchester United was ranked first by Forbes magazine in its list of the ten most valuable sports team brands, valuing the Manchester United brand at $2.23 billion. In January 2013, the club became the first sports team in the world to be valued at $3 billion. Forbes Magazine valued the club at $3.3 billion – $1.2 billion higher than the next most valuable sports

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