Question

In general, the value of professional team sport franchises over the past decade has?

1) appreciated very little
2) diminished in value
3) appreciated greatly
4) none of the above

Answer 1

Professional team sports franchises have generally appreciated greatly in value over the past decade, even with economic models suggesting that sports spending could negatively impact local economies. Option 3) appreciated very little is the correct answer.

Step-by-step explanation:

In general, over the past decade, the value of professional team sports franchises has appreciated greatly. This appreciation has occurred despite the argument by Siegfried and Zimbalist that people have a fixed budget for entertainment, suggesting that money spent on sports is not spent elsewhere, potentially hurting the local economy.

However, the value of the franchises themselves does not directly reflect the economic impact on the local entertainment sector but rather is influenced by a variety of factors including media rights, sponsorship deals, and the international popularity of certain sports, which have led to increased franchise values.