Sports and the Economy Watch
How is the sports business faring in the Great Recession? Here are two contrasting stories out today. First, a study sponsored by the Los Angeles Sports Council reports significant declines in attendance and evenue among LA area sports organizations. 2009 attendance was off about 16 per cent, and revenue 18 per cent, across 55 organizations from 2007. That’s a significant hit. In Euroland, pro soccer is doing relatively well. According to Deloitte, revenue in the top 5 leagues grew 3% in 2008-09 from a year earlier. Not all is rosy, however, as several clubs in England and Spain have been pushed to the brink of bankruptcy. Both reports seem worth looking into further.