This past Wednesday, I went to see the Sixers play (and defeat) the Phoenix Suns at the Wachovia Center, the first game I've gone to in well over a year. The game was pretty good, save for the fact that Steve Nash was visibly not 100% and Shawn Marion was out for the game, thus rendering the Suns less potent than usual, but all in all it was a fun time.
While at the game I did some thinking. I saw Ed Snider-- the Sixers' President who represents Comcast, the team's owner-- walking around his establishment that holds around 20,000 fans on a full night. He watched his investments, errr, players who are collectively paid about $40-50 million run up and down the court. He undoubtedly smiled as he watched ticket-purchasing customers spend more hard-earned money by devouring overpriced food and beverages. And perhaps he thought about the income he would get from people who paid for parking, team gear, and other in-stadium purchases. And I'm sure he didn't forget the hundreds of ads that are plastered on the walls and other marketing messages announced throughout the game. He's got a lot to smile about... There's a lot of money floating around this building in just this one evening.
And all for putting a ball through a rim.
Think about it for a moment. A handful of guys in shorts, sleeveless jerseys, and sneakers run back and forth on a wood court trying to get a ball through a metal hoop. And people will pay tremendous amounts of money to witness it.
In fact, I did a quick estimate based on last year's Forbes Franchise Values and found that the NBA's teams are collectively worth well over $7 billion. All for getting that bouncy leather ball into a circular basket.
Is that unballievable or what?
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