 The sports industry continues to grow and prosper on the back of the African-American athlete. Principally comprised of baseball (MLB), basketball (NBA) and football (NFL), revenue was nearly $232 billion in 2005. African-American athletes represent:
- approximately 8% of MLB players
- approximately 79% of NBA players, and
- approximately 72% of NFL players
African-American athletes were paid a total of approximately $4.6 of the $6 billion in player salaries in 2005.
- The sports industry revenue includes $27 billion of sports-related advertising.
- $5.8 billion from financial, legal and insurance services
- $2.30 billion from marketing and consulting services
- $385 million in athlete representation fees
- $2.5 billion on facility construction
- $2.3 billion for multimedia products and services, and
- approximately $16 billion on travel to and from sporting events.
Stay tuned to the next 5 PowerNetworking Minutes. We will examine the business of sports, how the game is really played, and a sure-fire strategy for increasing opportunities in the $232 billion sports industry for people of African descent. Services areas include accounting, advertising, banking, finance/investment, legal, marketing, personal services/furnishings, public relations, real estate (acquisition and development) and travel. Until next week, stay tuned and stay connected |
