Sport is loved by millions of people because of the emotions it brings, passion, euphoria and even disappointment it creates. Both athletes and fans are doing their very best. But on top of all these things, sport is also an industry. It is a huge business; not to mention, among the biggest.
Sports is a Business
The estimated worth for sports industry will vary depending on the source. But oftentimes, it is reported to be 500 billion dollars at least with some resources estimating the industry to reach over a trillion dollars.
The industry connected tons of activities ranging from foods sold at the actual event to multimillion transactions paid by big clubs when acquiring new star players. The business additionally features plenty of participants from rights owners to sponsors, sports agencies, broadcasters and investors. All of which are trying to compete to have the biggest share.
Most Popular Sports in the World
On the other hand, you ought to know that not all disciplines in sports are created equally in terms of finances. There are sports that are leading and dominating the industry including soccer that takes 43 percent of global financial market, American football that comes at second place with 13 percent, baseball and Formula 1 at 12 and 7 percent respectively.