Economic crisis affecting the NFL’s expansion. By Kush
The Financial crisis has been the topic of subject as of late and it has affected many areas of business but now it is entering the sports arena. The next victim of the economic crisis is the NFL, economist believe that if things get as bad as expected then the NFL will be struggling for the next 18 to 24 months.
Of course prices for simple things such as attending football games has risen due to the economy, but it is now becoming a problem for fans to see some of the worst teams of the NFL play due to the price of game day tickets. Teams are now seeing a cut in maintenance revenue due to the decrease in attendance and the decline in fans spending at concession stand at the games.
Not to mention those Teams that had plans of reconstruction and expanding their stadiums will have to also have to reconsider things. LA fans are the latest to be affected because there hopes of a franchise is almost slim to now as banks are now unable to fund the billion dollar structure. Other teams that where looking forward to restructuring are placed in Dallas and New York, who are now just waiting for the availability of revenue in order to once again consider taking on the renovation plans.
The NFL Commissioner Roger Goddell just recently released a statement that the NFL is not recession proof and the businessmen and fans of the the NFL need to prepared for the road ahead as nothing is predictable at this point of time.
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As someone from Los Angeles, I feel the fact that we haven’t had a football team for a long time is devastating. It is true what you mention about the economic crisis affecting the NFL’s expansion. Another point to bring up is the detiriorating dollar has made the NFL a nice buck playing games overseas and attracting fans from across the world. When the crisis is over and dollar has rebounded, will the expansion of the NFL mean more than the loss of someone overseas support?
nnusinow - November 3, 2008 at 3:51 pm
This in fact is true. I recall before the football season that the prices to football games increased, especially stadiums that were brand new. The tickets for the new Giants stadium being built are already skyrocketing. The fans are all going to want to come to the games, but with these high ticket prices it will be quite hard. If the teams and players really cared about their fans, what they could do it compromise their contracts for a little less but that would never happen.
alexchung01 - November 3, 2008 at 9:30 pm