The Vault August 2012
Pro Sports: It’s No Game
Blood, sweat, tears, and glory–professional sports are full of excitement and drama. But behind the scenes, athletes, teams, and leagues are businesses like any other. They have to take in more money than they spend. Even with the big bucks some pro athletes make, it’s not always easy.
Exclusive Biz Kid$ video clips
The Harlem Globetrotters are known for their fancy footwork. But there’s nothing fancy about how Globetrotter Dizzy Grant keeps his finances in order. His bookkeeperalso happens to be his mom! Of course, you don’t have to shoot three-pointers to have a job in sports. There are lots of exciting jobs behind the scenes. Just take it from Caity Kauffman!
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How to lose $100 million
If you just had $5 million, you’d be set for life–right? The big payoffs are a big reason kids all over America want to make it to the pro leagues. Of course, the chances of making it areincredibly small. And even for the elite few who make millions, keeping those Benjamins is surprisingly hard. 78% of professional NFL players go bankrupt or experience money problems within two years of retirement. How does it happen?Check out this article from Bleacher Report to find out.
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The most valuable teams on Earth
Sports is big business—and we mean BIG.The Forbes list of the top 50 most valuable sports teams is topped by Manchester United, a soccer team worth $1.86 billion. A majority of the most valuable sports franchises are NFL teams, although Ferrari and MacLaren F1 racing teams also make the cut. Baseball doesn’t show up until #31–the Boston Red Sox.
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Behind the scenes
Becoming a pro ball player may not be a sure career path. But you can still turn your love of sports into a fulfilling career. Whether it’s in marketing, training, coaching, or journalism, talented people are needed in every aspect of the sports industry. Check out some cool options from Forbes.
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