October 04 2008 / by JohnNg
Category: Economics Year: General Rating: 2
The globalization of sports such as Major League Baseball and the National Basketball Association has been a dream come true for the American sports economy, but now a plummeting U.S. dollar has created the conditions for a mass exodus of our top professional athletes. The result: Athletes like Kobe and Lebron are now openly entertaining the idea of playing overseas if income prospects there exceed what they’re currently earning on U.S. soil. 
Basketball: The NBA has made the most significant jump globally. It all began in Barcelona with the original Olympic Dream Team of 1992. As American legends Michael Jordan and Magic Johnson tore it up on the court, future superstars Pau Gasol and Dirk Nowitzki were watching from the stands, soaking up their unique styles of play. Gradually the foreign talent got better and soon earned roster spots on American NBA teams. Finally, this was capped by the emergence of Yao Ming, a 7’6” Chinese phenom selected first in the NBA draft. What ensued was the end of U.S. dominance in international play. At the same time, some big talent including the likes of the NBA’s Josh Childress signed with Greek League club Olympiacos and future college star Brandon Jennings have been lured away to play on the Italian League club Lottomatica Roma. Now, a falling U.S. dollar is threatening to erode the NBA itself.
It appears to be yet another unexpected consequence of accelerating change and a flattening world.
Baseball: The All-American Pastime has been a true global sport since before I was born. Latin America and Asia have been producing exceptional talent over the past 2 decades, a trend that shows no signs of slowing. Manny Ramirez, Ichiro Suzuki, Hideki Matsui, Miguel Tejada and David Ortiz are just a few of the international players who became stars in the US. But according to a recent ESPN documentary, the MLB does not replace the talent that they take. The Japanese league refers to it as not replanting for the trees they cut. However, this could quickly stop, then reverse, if the dollar falls far enough.
Football: The National Football League is perhaps most resistant to globalization. It’s an American bred sport that hasn’t really caught on around the globe. Instead, the stadium sport of choice is soccer. But if other nations can lure away NFL franchises with the prospects of bigger financial markets, then perhaps this too will change, albeit very gradually. Until recently, there have been rumors of the Buffalo Bills moving to Toronto.
With the US dollar looking weak (though the Bailout bill just passed), we can expect game attendance to be affected. Some fans will grow less willing to spend money on gameday tickets and associated merchandise. Gas for travel is still expensive and as credit shrinks the money may soon be used to cover consumer debts. Simultaneously, new contracts for players expecting a big payday after their first 3-4 years will become smaller. Just ask Ben Gordon of the Chicago Bulls. Lebron James, Dwayne Wade, and Kobe Bryant have all expressed some interest in playing overseas if the money is right. If someone of this caliber leaves in the near-future, others will certainly follow.
But, on the flipside, there is a huge downside to leaving for the Euro leagues. Home-grown players must leave behind their legacy, fans, and the chance to win an NBA title. Do they really want to leave behind the American dream? After all, some things are just priceless.
That being said, if the money is right, there are those who will jump ship, leaving American shores and sports franchises behind.
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The weakening US dollar doesn’t necessarily spell the end of US sports dominance. It just made everything more competitive just like anything in life when everyone wants a piece of the pie. We simply used sports as a Trojan horse to make more money and mark our superiority internationally. Are we still the World Champions? I’m not so sure anymore. This is an issue we should not fear because we shouldn’t fear competition. Competition makes our products better though I’m not saying that players are products. We wouldn’t want to dehumanize anyone.
We never hear about a MLB star jumping ship to overseas so this is a new scary trend. Kobe recently has retracted his statement. I can see why he did that because these guys dreamt about making it to the NBA since grade school so there’s no point in degrading the NBA game. The option of playing international ball is merely an entertaining thought if things do not work out here.
Will the trend ever stop? Sorry. It’s here to stay.
[image:Wikimedia]
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