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This is because each league in a given country is connected to every other league through the promotion and relegation system.
So how is all this working out - for the sports organizations, the players, and the fans?
In this sense at least, modern professional sport, whether along the social-democratic lines adopted in the.S., or the bare-knuckle laissez version practised in Europe, must be considered one of the most successful manifestations of modern capitalism.The best are able to perform athletically in ways that no else can, in order to win championships on which fans place enormous value.Perhaps surprisingly, the European model is one of pure capitalist competition, red in tooth and claw.But the fact is that the universe of fans has expanded dramatically over the last fifty years, attendances have grown to unprecedented levels and broadcasting has ensured that any sporting event can be viewed anywhere in the world.Commercial sport has become one of the most visible manifestations of globalization, with broadcasting and sponsorships turning clubs and players into vehicles for generating cash - some consider them more brands than athletes.
In 2012 a study by WR Hambrecht estimated the market value of the four major leagues (NFL, MLB, NBA, NHL) at 67 billion.
Football clubs seek to beat financial offside trap.




Skeptics argue that the economic success derives from artificial scarcity (entry into the majors is closely restricted) and monopoly power (these are the best leagues in the world in their sports - the potential for new entrants to become rivals is negligible).Read more: Fair play?In both systems the players have done extremely well.And in this time of crisis, what can this microcosm of capitalism teach the economics of the real prostitute meaning origin world?Many people feel it unfair that nurses or firemen earn small salaries compared to sports stars, but their pay simply reflects scarcity.There are constant scandals concerning the abuse of drugs, violence on and off the field, match fixing and gambling, exploitation of fans through ever increasing ticket prices.Second, those competitors need to be genuine, in the sense that there is some degree of balance - a predictable contest has limited entertainment value.And do the fans do well?Real Madrid named 'most valuable sports team'.
However, as a system European football has been remarkably stable, with few clubs being liquidated, and a succession of "sugar daddies" being willing to step in and finance loss making clubs because of the prestige that this brings.
Uefa has recently introduced regulations in order to achieve a less economically competitive environment.


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