Why Sports Doesn't Need a Bailout

For, the day is never complete without the following two questions: "How did the [insert home team's name here] do last night?" and "What's the Market doing?"  Indeed, even world conflicts take the rumble seat to these very important passengers in the daily parade.

We grumble about overpaid, illiterate, gangsta', professional-sports brats. We scratch our heads over the obtuse, ego-maniacal, disconnected, and deep-pocketed team owners.

Interestingly, we don't organize protests or stage sit-ins at Congress' doorstep. This is, after all, a multi-billion dollar industry that caters to a privileged hierarchy.

These sports companies—excuse me—teams, cut back on service or office staff, in the same week they might overspend millions on a player's contract extension. Isn't that outrageous enough?  Apparently not.

Is it because many of these teams are privately owned? Is it because Wall Street can get only so involved? Is it because sports is the legalized opiate of the masses—that the thrill of backing a winner forgives all transgressions? The transgressions of greed for the sake of the win in sport are not forgiven; by necesity they have been absolved.

You see, when a company, a stock, or some fantastic, financial derivative of even a wannabe asset nets a profit, it is only the stakeholders that get paid. When it fails, it is only some of the stakeholders that lose.

When a team wins, everyone gets paid, whether financially, emotionally, or both. When a team loses, everyone loses both financially and emotionally.

However, the average fan, with nothing more than his loyalty invested in a team, is not about to protest overspending on the next free agent or over-speculating on the next draft. And the last thing he or she wants is government oversight over player salaries and bonuses.

A sports fan cannot expose himself to that kind of risk.