Final Paper: Assignment (160 points) Prompt: Read the case material “The Market for Professional Basketball” in Appendix A and make sure to address all the questions at the end of the case in your f

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Final Paper:

Assignment (160 points)

    • Prompt: Read the case material “The Market for Professional Basketball” in Appendix A and make sure to address all the questions at the end of the case in your final paper.
    • Prepare the Final Paper using the following guidelines:

      • 1,500 – 2,000 words
      • APA-compliant formatting, including title and reference pages
      • Include biblical foundations application section (400 – 500 words)
      • Minimum of five scholarly references

Final Paper: Assignment (160 points) Prompt: Read the case material “The Market for Professional Basketball” in Appendix A and make sure to address all the questions at the end of the case in your f
27 APPENDIX A Final Pape r : The Marke t for Profe ssional Baske tball Toward the end of the 1970s, the NBA seemed on the brink of collapse. Attendance had sunk to little more than half the capacity. Some teams were nearly bankrupt. Championship games didn’t even merit prime -time television coverage. But in the 1980s, three superstars turned things around. Michael Jordan, Larry Bird, and Magic Johnson added millions of fans and breathed new life into the sagging league. Successive generations of stars, including Stephen Curry, Kevin Durant, and LeBron James, continue to fuel interest. Since 1980 the league has expanded from 22 to 30 teams , and attendance has more than doubled. More importantly, league revenue from broadcast rights jumpe d 140 -fold from $19 million per year in the 1978 –1982 contract to $2.7 billion per year in the current contract, which runs to 2025. Popularity also increase d around the world as international players, such as Dirk Nowitzki from Germany and the Gasol brothers from Spain, joined the league. (Basketball is now the most widely played team sport in China.) NBA rosters include more about 100 international players. The NBA formed marketing alliances with global companies such as Coca – Cola and McDonald’s, and league playoffs are now televised in more than 200 countries in 45 languages to a potential market of 3 billion people. What’s the key resource in the productio n of NBA games? Talented players. The following diagram (Figure 1) shows the market for NBA players, with demand and supply in 1980 as D 1980 and S 1980 . The intersection of these two curves generated an average pay in 1980 of $170,000, or $0.17 million, for the 300 or so players then in the league. Since 1980, the talent pool expanded somewhat, so the supply curve in 2016 was more like S2016 (almost by definition, the supply of the top few hundred players in the world is limited). But demand exploded from D 1980 to D 2016 . With supply relatively fixed, the greater demand boosted average pay to $6.0 million by 2016 for the 450 or so players in the league. Such pay attracts younger players. Stars who entered the NBA right out of high school include Kobe Bryant, K evin Garnett, and LeBron James. (After nine players entered the NBA draft right out of high school in 2005, the league, to stem the flow, required draft candidates to be at least 19 years old and out of high school at least one year. So, talented players s tarted turning pro after their first year of college.)

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