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Thoughts about things on the web

I have long wondered about the obvious disparity between …

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Andy McDonald #19 o...
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the radically large compensation packages that too many professional athletes get and the salaries of the fans who seem to get so worked about their faves in sport et al. It’s always seemed to me that the simple math accumulated increases in levels of compensation would eventually outpace any teams ability to continue operating.

So I guess I am not surprised to read this morning by Steve Brunt, an authentic sports journalist, this headline “The (Phoenix) Coyotes are the first domino (to fall)”.

It turns out that they are beholden to their NYC based financiers to the tune of of $80some millions to $100 million US and can only “meet the payroll” because they are getting funds from the NHL.

Their owner, whose trucking business is apparently financially stressed also, is “between the financial rock and the hard place”. Sports is another example of excessive and over the top consumption and spending excess along with the financial services sector. So you can expect financial scandals connected with sports franchises to begin appearing on the “front page” and not just in the writerly columns of well respected sports journalists.

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Written by BobG in Dalian & Vancouver

2009/01/09 at 05:14

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