Economic Elite and Sports: Investment in Stadium Construction, Major Events, Lotteries, Cost of Attendance and Sponsorship

Sociology of
Sports, Rec and
PA
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Introduction
• Different social class exits
• Elites are small group
• Upper income groups
• Economic wealth gives additional edge to elite class
(Haggard & Kaufman, 2018).
• Use their power to increase wealth
• Current focus is on Sports

Economy of Elite
• Small but most powerful class in society
• Owns a disproportionate share of wealth
• Enjoy political power and privilege in the society
• Power elites
• Elites governing control in policy making (Aguiar &
Schneider, 2016).

How elites raise wealth
• Elites captures a significant share of economic wealth
• Study confirms eighty two percent of wealth generated in 2017
went to only percent of richest population globally.
• Do not depend on single source of income
• Invest income in areas of higher return (Brezis & Temin, 2016).
• Income thus increases by manifold
• Investment in national and international sports events.

Economic importance of
Sports
• Important components of socio-economic development
• Today’s sports events are different from that in the past
• Sports not has become more organized
• Events are now marketed and administered for business interest
• Execution of a major sport event benefits the economy in several ways
• Development of infrastructure, generates employment, attract foreign
investment and generates players and athletes (Guerra, 2016).

Sport and Wealth of Elites
• Sports
• Economic and social importance
• Important source of wealth generation
• Private investors take interest in investing in Sport (Yang
et al., 2017)
• Invest in sports
• National and international sports