Sports Salaries
People involved in professional sports can earn a great deal of money at the highest levels. For instance, the highest-paid team in professional baseball is New York Yankees. Tiger Woods is the highest paid athlete totaling $127,902,706 including his endorsement income, which massively exceeds what he earns from tournament golf. Tiger recently became the world's first athlete to earn a billion dollars from prize money and endorsements. It would have taken the salary of 2,000 1980s professional golfers each making $58,500 to match up with Tiger Woods’ current salary. Samuel Eto'o is the world's second highest earning athlete and the highest paid footballer in the world, raking in £35.7 million (over $54 million) a year excluding off-field earnings. The top ten tennis players make about $3 million a year on average. Much of the growth in income for sports and athletes has come from broadcasting rights; for example, the most recent television contract for the NFL is valued at nearly US$5 billion per year.
Outside of the highest leagues, however, the money professional athletes can earn drops dramatically, as fan bases are generally smaller and television revenues are nonexistent. For instance, while the National Football League's teams can afford to pay their players millions of dollars each year and still maintain a significant profit, the second-highest American football league in the United States, the United Football League, has consistently struggled to pay its bills and has continually lost money despite allotting its players only US$20,000 a year. In the United States and Canada, most lower-end professional leagues run themselves as affiliated farm teams, effectively agreeing to develop younger players for eventual play in the major leagues in exchange for subsidizing those players' salaries; this is known as the minor league system and is most prevalent in professional baseball and professional ice hockey.
Read more about this topic: Professional Sports
Famous quotes containing the words sports and/or salaries:
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