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Essay on Major Sports Teams Sell Themselves to the Highest Bidders
Sports Teams: An Introduction
The basic difference between the structure of team sports in the U.S. and in the rest of the world is openness. In the U.S., sports leagues are closed: membership of the league is in the gift of the existing members, who usually only grant the right of entry in exchange for a large fee. This is true of all the major team sports leagues in the U.S.: the National Football League (NFL), Major League Baseball (MLB), the National Basketball Association (NBA) and the National Hockey League (NHL). Outside of the U.S., teams sports leagues are open: membership of the league is dependent on success. Sports are organized in ascending tiers usually called divisions and every year the worst performing teams are relegated to the next lowest division and replaced by the best performing teams from that division. This system operates in soccer, rugby, European basketball, cricket and almost all other team sports.
This structural fact has major consequences for the conduct and performance of sports leagues in the U.S. and the rest of the world. It also has potentially important consequences for the antitrust treatment of sports leagues. However strangely there has been very little research on the impact of openness on the organization of sports leagues. All sorts of rules involving the sharing of revenue between rival clubs, significant barriers to entry into the league joint venture, numerous agreements among clubs limiting their competition for players, limits on the sale of broadcast rights, and limitations on the internal business structure of member clubs are all tolerated unless noticeably unreasonable in the sports context, but would be improbable to be acceptable under antitrust laws if employed in other industries. This legal liberality stems from the acknowledgment that sports leagues have a special character: that teams cannot........
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