With every industry falling prey to the claws of the ongoing recession, sports too could not save itself. The price of slots for advertisement has become more expensive this year as compared to 2008, during this month’s Super Bowl, American football’s ultimate prize. In addition to all these the Premiere League sold its broadcasting rights for three consecutive seasons starting from the 10th of August 2010 at a price 5% more than the normal deal at 1.8 billion pounds.
Alike all other sectors sports too is not immune to economic downturns. The Premier League jerseys speak for themselves as Newcastle United sponsors Northern Rock and Manchester United sponsors American Insurance Group were all over the place and on the verge of bankruptcy. West Ham were without a sponsor for three long months when their sponsor XL crumbled due to the global credit crunch. In the history of American basketball, Detroit Pistons were unable to sell a full-house , in five seasons for a home game.
However, sports has been relatively performing in a better way in the face of recession unlike other business verticals. Even , when the dedicated fans should feel that season tickets are to expensive , still they shall be glued to their television sets which eventually shall keep the broadcasting rights to be open for high bids. The international Olympics Committee has started negotiations for the 2014 Olympic games and 2016 summer games television rights.
The case of National Association for Stock Car Auto Racing cars has not been going well. They are no longer carrying logos for every square inch as sponsor rates have slashed and many teams have been merged. Sponsors have even gone ahead and sold teams .Thus, the time is totally in-appropriate to build new teams and stadiums or even to hunt for new sponsors to bear team costs
