Sports
Why Are Football Players Paid So Much?
Football Players are more valuable than ever. Lionel Messi, the world’s best-paid player, takes home over £7m a month. That’s almost 600 times greater than the Prime Minister’s salary. The economic theory of supply and demand plays a role here.
Why do players receive such excessive salaries, when they aren’t saving lives, improving the world, and most of them aren’t even paying tax? It’s a question that’s frequently asked.
More than a few people believe that footballers are overpaid for what they do, and there should be greater wage equality among those who kick a ball around a field for a living and those who risk their lives on a daily basis. Join us as we examine one of the oldest quarrels in history: why are football players paid so much?
Why has player pay grown so dramatically?
Players are receiving more money than ever before because the clubs are earning more money than they have in the past. As a result of globalization and technological improvements such as pay television, football has grown in popularity and profitability. The rights to the Premier League’s first seasons in 1992-97 were sold for less than £200 million.
What does this imply for the rest of the economy?
All of our salaries are influenced by supply and demand. Many individuals have the appropriate skills for certain professions, so employers don’t have to compete for people. They may employ anybody without demanding high pay. If the position does not generate much money for the company, making a greater wage uneconomical, it will be low-paid.
What’s the difference between supply and demand?
A supply and demand situation is, in a sense, an economist’s version of the law of gravity. It determines how much everything costs, including a cup of coffee, a house, and even your salary. Supply in this example is the number of players talented enough to play in the top leagues such as the Premier League.
Why is Messi so well-compensated, though?
Only a fraction of the 1.5 million football players in organized English youth football will become Premier League professionals, but there are plenty of them. Only 180 of the 1.5 million participants in organized English youth football will make it to the top level, according to FIFA’s world ranking (November 2014). If you’re a fan of betting, this might be worth remembering when you next choose a player or team to focus on when using Sky Bets new offer. You might be in for a win!
Teams that succeed earn more money from broadcasting rights, merchandise sales, and ticket sales. To compete for the greatest players, clubs must pay the highest salaries. If a team offered lower wages, other clubs would outbid them.
It’s no mystery that football players are paid well. The way the game has grown in popularity and profitability means more money is being funnelled back to the clubs, which have to compete for the best talent with lucrative salaries. If you’re looking for a high-paying job where your skills can be put to good use, this may just be it!
