The $500 billion Sports Industry is one of the most celebrated business entities in the United States of America (USA). Sports have been a game changer in the USA. Rightfully, it should. It is one amongst a few vocations in our culture where individuals from different ethnicities, socio-economic and educational backgrounds work, respectfully, together for the good of their teams. Whether it’s baseball, football, basketball, soccer or volleyball, sports have lifted many of its participants to greatness in our society. Jackie Robinson, Bill Russell, Landon Donovan and Karch Kiraly come to mind as individuals who have succeeded beyond their professional sports careers.
The multi-billion dollars sports entertainment industry is not without ridicule. Critics warned too many inner cities young men are placing all of their hopes on playing professional sports. The harsh reality is most of them will not play one day for a top-tiered professional sports team. It has been reported, it’s easier to become a doctor, lawyer or business owner than to succeed in a “top-tiered professional” sports career. Then why is there so much youth interest in sports? There are many answers to the aforementioned question. For this blog post, I recognized three: 1) the ability to earn a lucrative salary 2) the excitement of being able to travel all over the world, with expenses paid and 3) the notoriety and adulation players received from their fans are both inspiring and motivating.
In the future, I hope sports athletics will obtain the appropriate training to manage their finances; too many of them are leaving their sports careers bankrupt after earning millions of dollars . It is the athlete and his or her advisors responsibility to manage their earnings. Sports have helped in a magnanimous manner to bridge the race relations gap. Let’s hope it also continues to assist young men and women retain fortunes for their descendants.