This list, presumably, doesn't include advertising, so it's probably not spot on. Nevertheless, I figured some of you guys would be interested: http://sports.yahoo.com/top/news?slug=ys-forbes-t…
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i hate tiger woods
How can you say that the list presumably doesn't include advertising after actually having read the articles??? I think I read something about endorsement fees every other sentence.
Quote from the article... "Woods can thank two long-term sponsors for his hefty income. Nike signed Woods to a five-year, $40 million deal when he turned pro in 1998. Electronic Arts released its first “Tiger Woods PGA Tour” videogame in 1998."
Sounds like it includes advertising...
I never said I read the article, I just saw the list... (I assumed they made more than that with advertising, that's all...)
fair enough econ
My favorite outrageous sports salary is Kimi Räikkönen being paid somewhere in the area of €25 million last year to NOT drive. I guess that's why McLaren couldn't come to a contract agreement to rehire him... it's a shame really.
Oh econ you forgot to read this "Our earnings figures are derived from salaries, bonuses, prize money, appearance fees, licensing and endorsement income in the 12 months ending May 1."
God, the Yankees are dumb. I still can't believe they gave A-Rod that huge extension. No way in hell should he still be on this list.
I think baseball salaries in general are a bit ridiculous. Sure A-rod is more skilled than the average player, but if you compare on pure statistics, there are plenty guys in the league who have his production. The Yankees just have a unbelievable fan base so they have the money to throw around to get whoever they want and make sure that there is no chance of the other teams even being able to come close to matching their offer. I'd compare it to sending John Paulson to the Compton swap meet, he would basically be able to buy whatever he felt like without having anyone else even attempt to outbid him.
Anyway, long story short, I wish sports would pay its football, hockey, and basketball players more, and less to these golfers and baseball monkeys.
Here's an interesting list from ESPN on per sport highest incomes ex endorsements, etc:
http://sports.espn.go.com/espn/news/story?id=6391391
Interesting to see that, for example, Kobe's 2010-11 salary earnings accounted for only about 25 mil of income...or a little less than 1/2 of approx a year's worth of total income for the guy. Crap.
double post
Was gonna say that I would have expected Rafa Nadal to be on the list, but he's 12th!
Impressive numbers for tennis players these days.
Still cannot fathom how golfers get paid so much. Soccer players income is obscene as well. Granted their great athletes but I think the sport could really benefit from a salary cap such as basketball. Some very average players make millions.
Salary cap is so stupid... If you have the money pay them...Imagine if YOUR job had a salary cap then what...
I'm not saying cap them at less then their value. It works well in basketball. Take for example John Terry, defender. Good player but no way is his value $200,000 a week.
And the thing is these soccer clubs dont have the money. They are bankrolled by rich Arabs who see them as a plaything for a while. Some of these clubs who can 'afford to pay' them are making record losses. They will fold so quickly if these Arabs sell up to someone with less net worth.
Surprised Sachin Tendulkar didnt make this list. I read in Forbes that he made $26m last year. Crazy amount for a cricketer. They have this annual tournament in India, where a player is bid on by a team and the player gets to keep the money bid upon him for 6 weeks of work. I think this year he was bid at $5 million.
Feel bad for D Wade, making less then Chris Bosh.
So, someone will pay you more than your value because they're afraid someone else will pay you more than their value? Isn't that what you want - for your competition to pay $200K/week for someone who's only worth $50K/week? If one employer was stupid enough to pay me half a million a year, do you really think other employers would feel obligated to compete with that offer? No, they wouldn't pay me more than my value, just because some other jackass was willing to. In fact, they'd be glad some other jackass was running his business so carelessly. (And, by the way, I do deny it works in basketball.)
You're making my point for me. Those jackasses that over value will no longer be able to do that, with a cap. The team with the players will often do the over bidding because of the large influx of soccer players allows another team a quality player anyway.
The example I gave was perhaps a bad one but the team with the player didn't want to lose him, especially to the rival team with Arab money. So they overvalued a player who didnt really want to leave anyway.
You're making my point for me - those "jackasses" anticipated value for the player is what they're bidding (and not more than that).
Your example is a bad one, but not for the reasons you just stated. But, rather because you have a narrow definition of value. Remember, value is subjective...
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