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  • Essay / Professional Sports Industry: Examining the Popularity...

    Professional sports is a huge and complex industry. Subdivided into respective sports and leagues, individual franchises act as independent businesses. The collective goal of these companies is to provide a product that consumers will seek to purchase. In the case of a football team, for example, the Indianapolis Colts represent a business and football is the product they sell. However, not all football is consumed with such enthusiasm. The Arena Football League was recently disbanded after 21 years of selling its brand of football. Having difficulty generating revenue, its teams were forced to shut down. Meanwhile, the aforementioned Colts, an affiliate of the thriving National Football League, are selling a product of immense popularity. Officially licensed Indianapolis Colts merchandise is selling out in abundance and tickets for home games at Lucas Oil Stadium are sold out, so media outlets are buying broadcast rights and broadcasting games directly to TVs and radios consumers. The Colts' popularity generates a seemingly endless stream of revenue, making their business a successful one. In essence, an NFL franchise like the Indianapolis Colts and an AFL franchise like the old Chicago Rush sell the same product: football. The vast disparity in success that exists between the two companies can be explained simply by the quality of their respective products – the team and, more specifically, the players and coaches who make up the team. Athletes are, in most cases, not business people. And yet, they find themselves working in an extremely lucrative sector. Some players are more important to a franchise's product than others, but every part of a team deserves fair compensation. Very good... middle of paper ...... PR departments to boost their image, teams of highly trained agents working together to solve problems or answer questions, and maybe even a ride in the agency's private jet. With such exceptional profits accrued at the pinnacle of professional athletics, it makes sense to reward the athletes who have helped generate such numbers. And given the unusual nature of non-entrepreneurs owning such an integral stake in an extremely lucrative business, the role of the sports agent has become necessary for the fair treatment and compensation of professional athletes. An athlete's primary job is to compete, but their responsibilities as a public figure and businessman extend far beyond just competing in sports. We ask a lot of our athletes, perhaps more than they can reasonably handle on their own. This is the role of the sports agent.