...Overpaid Baseball Players When addressing the value of entertainment, there is without a doubt, that we as a society value entertainment highly. But there is no reason that these athletes, who are here to merely entertain us, get paid higher wages than those that save our lives and teach us such as medical doctors and teachers. Professional athletes do not offer society an essential function that improves or enhances our world in comparison to other professionals. It is my claim that professional baseball players are paid more than they are worth. Economics is the key to understanding why these athletes earn such tremendous salaries; still, it fails to explain why they actually do deserve it. Giving athlete’s high wages doesn’t only distort them, but also bring downfall to clubs and the country’s economy. The growth and the development of a sport may be reflected from the wages of the athletes and that is all it does. In conclusion, Team owners pay more to keep athletes on the team to be on a winning streak, but whether the drive to win is justifiable remains in doubt. The economic system involving sports, corporate America, and the media is an interdependent one. Athletes make huge sums of money paid to them by owners who make even larger sums of money. Agents, free agency, and other phenomena keep athlete salaries rising. So, too, does increased ticket sales to games, increased TV viewership, enormous media contracts, TV advertising, and corporate sponsorship and endorsement...
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...hardworking but poor parents. The family moved to California when Flood was two. By seven, he could outrun other kids in his West Oakland ghetto neighborhood. By nine, he was the catcher for the junior’s Sweet Shop team in a local midget league. Nothing could of stop him from that point forward from pursuing his dreams as a professional baseball player. But his baseball legacy is fated to have little connection with his accomplishments on the field. Flood is best remembered for his courage in challenging the reserve clause, a move as crucial to the economic rights of players as all famous Jackie Robinson who broke the color barrier. He felt that the reserve clause was not unlike slavery. Before free agency existed, sports franchises generally held complete control over individual players. Their contracts contained reserve clauses, which specifically bound them to one team. Players who grew unhappy with their team had little leverage; sometimes they might be released from a contract, but their only real hope was that they might be traded to another team. | | In 1969, the Cardinals sent Flood to the Philadelphia Phillies as part of a seven-player trade. Flood had several problems with the deal. He didn't appreciate hearing about it from a front-office underling. He didn't like Philadelphia, a losing team in a rundown ballpark with hostile fans in a city he regarded as racist. But, most important, he didn't think he should...
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...Discuss the Negotiation Contexts with respect to the MLBPA and MLB. Provide specific evidence from the case and support with concepts from the section 3 of the book. In understanding the contextual issues in regard to negotiations between Major League Baseball Players Association and Major League Baseball one would have to go back to a relationship that began over a hundred years ago. The contextual manner that Baseball negotiations present stems from a history of culture that has affected all of America. Baseball negotiations are unique in that the relationships between owners and players are that of friends. Since there is a relationship in many cases between owners and players this may or may be advantageous. When Negotiating with friends we tend to pay more attention to their behaviors and monitor their words and actions for standards of trust and fairness. In this context there is alot more pressure on both parties. Another issue at hand is that in the MLB relationships are very long lasting spanning ten to twenty years at minimum. This creates that much more pressure on both sides as they are bargaining on their relationship as well. There are many contexts in sports that do not exist in other business negotiations. The relationships of athletes to their managers and owners must be preserved no matter how negotiations turn out. There are several key contextual issues that may affect negotiations between the MLBPA and the MLB. These are the history of the relationship...
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...Where would we be without the people who try to improve the lives of our future adults? Russell Wilson is one of those people that try and help. He donates lots of money to cancer organizations, gives children with cancer confidence, and he helps put a stop to domestic violence. Russell Wilson is a football player, he is the quarterback for the Seattle Seahawks. And just because he plays football doesn't mean he’s not a hero. One thing Russell Wilson has done is donated a lot of money to cancer organizations. He donated $1,060,005 to Strong Against Cancer to empower children with cancer (www.seahawks.com). He also donated $75k to Seattle-area charities. Russell Wilson also gives confidence to children with cancer. He goes into kid’s room’s and talks...
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...Today, professional athletes are one of the most overpaid careers in the country. Baseball players make more than a teacher, and football players earn more than a doctor. These everyday jobs teach students and save people’s lives. However, they do not earn as much money as an athlete, who gets paid for playing a game. These professional athletes cause an unbalanced power in society. Today, professional athletes get a high salary for just playing a game. Baseball players in the Major League Baseball earn an average pay of $1.37 million per year. The average salary for a basketball player in the National Basketball Association is $2.2 million every year. However, a teacher only makes $38,000 annually. A doctor, who saves lives everyday, earns about $130,000 a year. These athletes are mainly for entertainment, but earn more than these important careers. Hockey players, in the National Hockey League earn a paycheck of about $892,000 each year. A National Football league player can earn about $795,000 every year. In the United States, a fireman averages about $40,000 annually; this is not even close to the amount a football player makes. Police officers average a paycheck of about $29,000, this seems very small when comparing it to the high paying salary of these professional athletes. Professional athletes earning this much money is negative because they are basically playing a game, which many people play everyday for free, however they get paid thousands and millions...
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...Are Professional Athletes Overpaid? Have you ever considered how much money does an average person need to be able to have food three times a day, have a house, be able to send their children to school to get an education and even have a car? Realistically, all of this plus a little more can be done with an income of between $45,000 and $55,000 easily. For some reason, it was decided by us, people who labor is harder than the most, like janitors, factory workers, and even factory workers, should be paid less than someone that sits on a desk all day or someone that gets paid to play a game for living. Athletes today are the highest paid people in the world, with the exclusion of Donald Trump and Bill Gates. If you think about it, it is absurd to believe that someone is really worth millions of dollars and all they do is play a sport. Millions of people would do this for free if they had the chance. For that reason, I believe professional athletes are overpaid for many reasons. In USA Today Magazine, under section Your Life it says, “Although many professional athletes apparently still feel underpaid, just two percent of the public agrees, according to a survey conducted by Roper Starch Worldwide. In fact, the vast majority of Americans think athletes are overpaid.”(USA Today) This is ridiculous to hear for these athletes already making millions of dollars which is way more than they deserve. Also, in this article it states that professional athletes get paid what...
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...There are social inequalities within US baseball. For example, there are issues regarding players’ salaries and how much a player makes versus how much a player should make. With race, white players have always outnumbered players of color and a change is nowhere in sight. Major League Baseball has a strong stance against discrimination based on sexual orientation. They are also extremely inclusive of players who are immigrants to the United States. Although baseball tends to be a middle or upper class world, today’s players reign from 25 different countries and about one-quarter of all big leaguers are citizens of countries besides the US. One social inequality in particular is significantly outstanding compared to any other; it is the fact...
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...Another unbelievable statistic is Mike Tyson's earnings in his match with Peter McNeeley. In a single second, he made 281,000 dollars (Christian Science Monitor). Alex Rodriguez will be paid $29 million this season, making him the highest paid player in baseball (Newsday). Rodriguez’s salary is $4 million more than the entire 25-man roster of the Houston Astros will make this year (Newsday). Athletes do not deserve all that money. President Obama’s salary is 400,000 dollars. President Obama is the leader of the ‘United States of America, and he is paid less than a professional athlete that sits on the bench in any professional sport. Professional athletes are easily the most over paid job in America. Professional athletes are overpaid in several professional sports. Professional sports generate massive revenues, and the athletes who play these sports are being paid tremendously high salaries. New York Yankees baseball star, Alex Rodriguez, signed a contract in 2008 that includes him being paid $275 million over the next ten years (Newsday). Many other baseball, football, and basketball superstars have multi-year contracts worth more than $100 million. Because teams within a league must compete with each other to attract the best players, some professional sports leagues started to impose salary caps in the 1990’s. A salary cap is a limit on...
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...The Correlations Between Salaries of NBA Players and Their On-court Performance Indicators ZiWEI YONG, 460228934 21, FEB, 2016 Contents Abstract 2 1. Introduction and literature review 3 1. Introduction to Regression Model 3 1.1 Regression Model 3 1.2 Simple Linear Regression Model 3 1.3 Multiple Linear Regression Model 4 1.4 Multicollinearity 4 1.5 Conclusion for Multiple Linear Regression Modelling 5 2. Literature Review 5 2.1 Introduction of NBA 5 2.2 Reasons for High Average Salary in NBA 5 2.3 Salaries based on long term contract 6 2.4 Reasons for Choosing On-court Performance Data 7 3. Preparations for Running the Multiple Regression Model 8 3.1 Objectives of this paper 8 3.2 Introduction of the variables 8 3.2.1 Dependent Variable 8 3.2.2 Independent Variables 8 3.3 Data Source 9 3.4 Scattered Plots 9 3.4.1 Scattered Plots of Salary and Independent Variables 9 3.4.2 Residual Scattered Plots 10 4. Multiple linear regression modelling 11 4.1 The Adjusted R² 11 4.2 The Histogram 12 4.3 Model Generated by Analysis: 12 5. Ethical Problems 13 5.1 Sample Size 13 5.2 Data for Kobe Bryant 14 5.3 Excluded Related Independent Variables 14 5.4 Multi-collinearity 14 6. Conclusion 15 Abstract This paper examines the correlation between NBA players’ salaries and their on-court performance indicators. Before getting into the relationship, I would introduce the essence of what is regression model and how to interpret it, then we would...
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...Are professional athletes overpaid? That’s the question the answer to that is simply no. But why would I agree with this even though I may not reach that level of salary, well it is a very easy and miniscule response. First let me start by answering a question with a question. Would you train every day from 6 am to 5 pm, eat a specific set of meals often the same meal, what about having an injury that could end your career or worse your life? Those are but a few things professional athletes have to undergo in order to reach the level of excellence we so love to watch. Now let’s start with the first point, training for anything is going to take effort whether it may be a police officer or a doctor. However for athletes that training is physical and taxing on their bodies, while a doctor can make upwards of 500,000 dollars for 40 years an athlete cannot go that long simply because the human body won’t allow it. Next you have to think about such injuries are you willing to live with a replacement knee or what about a permanent head injury. All these things we have to take into account....
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...Athletes are treated as celebrities in American society and idolized by young athletes. The kids who see what their favorite player is doing through the media also are being influenced by them. The example that professional athletes set is very important because they looked up to. The example that many athletes set is unfortunately a negative one. Most people think that athletes make too much money but there are those that believe they are paid fairly. The enormous amount of money that professional athletes receive is having a negative effect on kids today. Athletes should make less money to play a game because the huge contracts that they receive give them power. They are concerned with making money and not the example that they are creating for today’s youth. Professional players feel that they earn every dollar of the millions they make every year to play a game. Those who think that players are paid fairly in professional sports argue that since athletes make so much money for their teams they should compensated accordingly. According to Forbes magazine "The average NFL team is worth $957 million" (Forbes, 2012). Teams generate large profits and as a result can afford to pay athletes large salaries. The past NFL season, players and team owners tried to come to an agreement before the season. According to Pete Prisco, a senior writer for CBS Sports "The players and owners can talk all they want about health issues, playing 18 games and any other issue thrown into these talks, but...
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...Professional Athletes Salaries I have developed a love for baseball and have done a lot of research to understand and to defend my position on the topic of their salaries. I have engaged in surveys with sports fans and non sports fans. I have had extensive conversations with people that I consider experts on the subject of sports and salaries, in addition to an enormous amount of web surfing. I am not here to change your mind and get you to believe only me, but to entice you to make a new decision based on new information. I completely understand the position that individuals take on the enormous salaries that professional athletes make. However, I ask a few minutes of your time to “walk a mile in their shoes” (Kirby/Goodpaster, 2007) from my perspective and that of many others. I would like to talk with you what is takes to become a major leaguer, the logic behind their enormous salaries and where that money is generated and about the personal dedication and contribution to society that these players provide on a daily basis. Let’s discover the whole story and see where this leads us. Let me ask you a couple of questions to ponder first as you listen to my story. If your child had a natural ability whether it was sports, numbers, or debating would you do all that you could do to inspire and encourage a pursuit in that career field or put a cap on potential earnings? As a professional Sports player, it takes dedication from childhood. First the love of the sport...
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...In a society where jobs are scarce, people are cutting back, and families are losing their homes, athletes are signing huge contracts worth tens of millions of dollars. If you were a teenager who just got his first part-time job you would think making minimum wage ($13) was a fortune. I mean, working part time could bring in a paycheck upwards of $200! Now imagine you’re Lebron James. Your first paycheck from your first job got you almost 13 million for three years. Now, $13 an hour doesn’t sound too great in comparison to athlete’s salaries. LeBron’s salary is just one example of the absurdity surrounding athlete’s paychecks. In 2009, the average salary for basketball player was around 6 million. An average baseball player made around 3 million, a hockey player, around 2 million and football players made an around 1 million. The reason athletes are paid so much is because of the fans that “sponsor” them. These are ordinary Americans who idolize their favorite athletes and are willing to pay hundreds to see them play. Not only this, but the popularity fans bring to athletes gets those athletes advertising jobs and other ways of making money outside of their sport. The middle class is getting paid less...
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...impending draft, the current coach, the future coach, and so on. according to the existing records, in United States of America, there are less than 110 Teams of the 4 main organized professional sports, basketball, baseball, hockey, and, football participating in the main League level fixtures annually. There are less than 90 Stadiums spread over 25 States. Today, sports has become a money making alternative for not only players but also the coaches or managers, the media, and schools participating in sports. Salaries for professional athletes continue to escalate each year. From Alex Rodriguez’s record, $252 million contract to David Beckham’s $50 million per year enticement to join the LA Galaxy soccer team, most sports fans believe that professional athletes, in general, are overpaid and not worth their salaries. Yet for the professional athlete, maximizing compensation is critical, given the short careers and health risks associated with the sports profession. Thus, athletes and their agents often look to see what others within their sport are paid in an effort to negotiate for more money. Few, if any, have compared athlete compensation across sports (Rod Hilpirt, Scott Wysong, Sheila Hartley, Mike Latino & Andrea Zabkar). In major team sports, star players command millions of dollars per season, often with guaranteed salaries and performance bonuses. Many individual athletes in sports like tennis and golf earn similarly lofty salaries. In those professional...
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...Equity Theory and Time: A Reformulation Author(s): Richard A. Cosier and Dan R. Dalton Source: The Academy of Management Review, Vol. 8, No. 2 (Apr., 1983), pp. 311-319 Published by: Academy of Management Stable URL: http://www.jstor.org/stable/257759 . Accessed: 19/02/2014 05:31 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. . Academy of Management is collaborating with JSTOR to digitize, preserve and extend access to The Academy of Management Review. http://www.jstor.org This content downloaded from 130.220.71.24 on Wed, 19 Feb 2014 05:31:53 AM All use subject to JSTOR Terms and Conditions 'Academy of ManagementReview, 1983, Vol. 8, No. 2, 311-319. Equity Theory and Time: A Reformulation RICHARD A. COSIER DAN R. DALTON Indiana University Perceptions of inequity generally have been associated with substantive employee responses in the workplace. These effects have been demonstrated in the laboratory and, to a lesser extent, in field settings. The most commonly used formulation of equity theory relies on a static view...
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