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ok, let's look into this is bit further, and agreed, my knowledge here is a little patchy.
how about I wanted to start a new NFL team, let's say 'The Wyoming Wanderers'.
assuming I had enough backing, how could I join the NFL league?
New teams are rare but the league would come together and decide on a new team, you would be able to try and purchase it but that is going to come along with a lot stipulations.
They definitely generate economic rents which is anything above their opportunity cost to put their labor into production. One can safely tax economic rents without losing efficiency, but I don't know how one would go about determining the amount of each specific economic rent generated by each specific entertainer.
Yes, I think they earn too much for the work they do, but the economic rents generated by entertainers and sports starts is not on the top of my economic list.
They definitely generate economic rents which is anything above their opportunity cost to put their labor into production. One can safely tax economic rents without losing efficiency, but I don't know how one would go about determining the amount of each specific economic rent generated by each specific entertainer.
Yes, I think they earn too much for the work they do, but the economic rents generated by entertainers and sports starts is not on the top of my economic list.
I would think that is probably right since you had several corpses earning tens of millions of dollars in 2012.
New teams are rare but the league would come together and decide on a new team, you would be able to try and purchase it but that is going to come along with a lot stipulations.
so who actually owns the league itself?
NFL , that is
and has anyone tried to set up a new league to challenge the supremacy of the NFL?
so am I right in thinking, that the league bosses say something like this to the team managers: ' here is your pot of money to pay wages for this season, you cannot add to this pot but can spread it amongst the players as you see fit'
and what if the coach wants to buy a new player - can he scalp one from another team by paying extra cash? (legally I mean)
and has anyone tried to set up a new league to challenge the supremacy of the NFL?
so am I right in thinking, that the league bosses say something like this to the team managers: ' here is your pot of money to pay wages for this season, you cannot add to this pot but can spread it amongst the players as you see fit'
and what if the coach wants to buy a new player - can he scalp one from another team by paying extra cash? (legally I mean)
And please, don't try to compare this with government.
Supporting sports teams that are part of a private enterprise is money voluntarily spent....or not spent.
One cannot just decide they choose not to pay the taxes assessed for programs they do not care to support.
I don't know the intricacies but the owners of the teams do, it's like owning a stock.
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and has anyone tried to set up a new league to challenge the supremacy of the NFL?
There's been a few here and there but you're not going to compete with the NFL. I just looked up some numbers for the teams, minimum estimated value is 700 million and the highest is just over 2 billion. It's big business.
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here is your pot of money to pay wages for this season, you cannot add to this pot but can spread it amongst the players as you see fit'
They don't hand them a pot of money, wages come out of the owners pocket but the owner also reaps the benefits of a successful team.
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and what if the coach wants to buy a new player - can he scalp one from another team by paying extra cash? (legally I mean)
This is a little complicated and based on contracts and how long they have been playing. New players are drafted by teams each year with the worst teams getting to pick first. When they can go to another team depends on their contract and how long they have played. There is also special designations the owner can assign that will not allow that player to go to another team but he'll be paid according to the other top players in the league at his position.
I don't know the intricacies but the owners of the teams do, it's like owning a stock.
There's been a few here and there but you're not going to compete with the NFL. I just looked up some numbers for the teams, minimum estimated value is 700 million and the highest is just over 2 billion. It's big business.
They don't hand them a pot of money, wages come out of the owners pocket but the owner also reaps the benefits of a successful team.
This is a little complicated and based on contracts and how long they have been playing. New players are drafted by teams each year with the worst teams getting to pick first. When they can go to another team depends on their contract and how long they have played. There is also special designations the owner can assign that will not allow that player to go to another team but he'll be paid according to the other top players in the league at his position.
The NFL is anti-free enterprise. It is colusion and a monopoly. They have an anti-trust exemption for a reason. For instance, if it were a true free market Andew Luck would not be playing for the Colts.
The NFL is anti-free enterprise. It is colusion and a monopoly. They have an anti-trust exemption for a reason. For instance, if it were a true free market Andew Luck would not be playing for the Colts.
Yep. Pro sports leagues are the only example of a monopoly one can find in the United States.
]How about this - do these people earn too much money?[/b]
since when was a sports player worth 100k/week?
do they really deserve all these millions and mansions - should a cap be put on their earnings?
and since when was kicking or hitting a ball around that much more useful to society than a firefighter or doctor anyway?
same applies to movie stars, singers and TV celebs
Of course they do but it's because of people like us that are enthralled by them. Look at the Kardashians. What exactly have they done to earn millions.
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Look at the Kardashians. What exactly have they done to earn millions.
