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Leagues and owners have learned how to exploit fan obsession to maximize profits. They know that in our grossly unequal society, money can be no object for some. As a result, stadiums and arenas have become gated communities, with the ultra-wealthy waved inside, and those who can’t afford it peeking through the fence hole on TV. They’re finding ways to charge you for that, too. |
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NFL owners are the closest thing we have in America to medieval kings and queens. This is true on a superficial level—they sit on thrones up in the luxury boxes and watch the armies they fund march against each other on a field of battle, wearing coats of arms on their chests and helmets—but also on a functional one. |
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America’s love affair with gambling has spawned another horror show: prediction markets, which handle bets on whether a future event will occur. The main attraction for prediction markets is sports betting, with platforms that evade state gambling regulations and even allow betting in states where online sportsbooks are illegal. |
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Private equity is ruining sports for young people. It’s enough to make you pine for the days when the purpose of travel sports was supposed to be a college education, or even the joy of the game. |
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Given the steady encroachment of Wall Street speculators into everything from youth sports to major league franchises over the last decade, its march deep into the financial lives of individual players should not shock seasoned observers of the business of athletics. But it has. |
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