By: Kaustav Saha
When a franchise comes into possession of a superstar, the whole city benefits. For example, look at the city of Cleveland and Lebron James. People from all over Ohio and the Midwest came to see one of the All-Time greats play for the Cleveland Cavaliers. After Lebron’s departure Cavs tickets sold for $2 for a game! A superstar greatly increases the demand in for to visit a basketball game for anyone in the region. Last year I was unable to make it to a single NBA game but this year I have already gone to 2 games. When a superstar is able to bring in fans, not only does he bring revenue to the stadium but also for the businesses in the city. When fans come to games they have to pay for parking, most people go out for dinner before or after in the cities restaurants, and hotels depending on how far they come from.
The Milwaukee Bucks should be very thankful that they were able to draft a superstar like Giannis. Often it is very unlikely that a superstar would choose to go play for a team located in Milwaukee compared to Los Angeles, New York, or Boston. By drafting Giannis the Bucks were able to have a superstar that would benefit the Organization and the city of Milwaukee.So far this season Giannis is dominating the competition. Currently, Giannis’s probability to win the NBA MVP award sits at roughly 40%(approximately 4 times greater than any of the other contenders). Last year Giannis did not finish top 3 in the MVP voting. Giannis and the Bucks performance have been outstanding this year and this is incredibly noticeable in the revenue brought in by the team last year compared to this year. In 2017, the estimated value of the Bucks was 785 million. This year, the value of the Bucks is at 1.08 Billion. Since the value of the Bucks as grown immensely since Giannis began is rise to superstardom it is safe to assume that he is able to bring revenue to arena and the businesses in and around the Fiserv Forum.
Works Cited
“All Of The NBA 2K14 Player Ratings.” NBA2K4LIFE, 26 Sept. 2013, nba2k4life.com/2013/09/25/all-of-the-nba-2k14-player-ratings/.“Basketball Statistics and History.” Basketball-Reference.com, www.basketball-reference.com/.
“Milwaukee Bucks Franchise Value 2003-2018 | Statistic.” Statista,
www.statista.com/statistics/194662/franchise-value-of-the-milwaukee-bucks-of-the-nba-since-2006/.
Wells, Adam. “Nets-Cavaliers Tickets Sold for Just $2 in Post-LeBron James Era.” Bleacher Report, Bleacher Report, 25 Oct. 2018, bleacherreport.com/articles/2802817-nets-cavaliers-tickets-sold-for-just-2-in-post-lebron-james-era.
“r/Nba - [OC] Top 5 MVP Candidates According to Basketball-Reference.com and Their Probability to Win If Season Ended Today.” Reddit, www.reddit.com/r/nba/comments/a0l5r0/oc_top_5_mvp_candidates_according_to/.
I agree with what you said about how having a superstar and the fact that they bring in more people to games. I’d be interested to see if the Brewers reigning MVP, Christian Yelich, will do the same thing. I know that a team’s success plays a huge role in fan attendance, but what if the team is a title contender AND they have an MVP caliber player? Obviously there’s no way to compare these two athletes sense they play different sports, but I’d like to see how each of them help drive people into games.
ReplyDeleteLuke Lochner
ReplyDeleteGiannis does help in bringing more tourists to Milwaukee to watch him play. He is from Greece which also has the potential to bring some foreigners to America to watch their native basketball superstar play. It is a big deal that Giannis is from a different country. In the future, it could increase the amount of basketball played in countries and increase total revenue from the sport from many different aspects. It could also encourage others from around the world to take their chance in America at basketball which would increase the US population and get more money flow throughout the nation.
With the Bucks doing so well the demand is high, which means people want merchandise. Businesses can profit from a increase in demand in that they can supply more, for a higher price. Supply is going up as well, as it might sound unusal because when supply increases demand decresaes, but since there is such a high demand for Giannis jerseys supply and cost goes up. Bucks have to be fortunate to still have Giannis in that he is for sure valuable, and hope that he doesn't leave the Bucks. Money will be lost without Giannis, who's next? WHo has to step up to the plate?
ReplyDeleteI agree. I would think that Giannis's jersey is probably one of the highest selling jerserys this year. He could probably impact the economy of the United States because everyone will want to go to his games in other stadiums. For example Cavs fans would want to come to their own games to watch Giannis. To answer your question I believe the next player to step up is Donte Divincenzo.
DeleteThis was very interesting to me, as the bucks have increased their popularity by a long shot. Their economic statistic boosted in the past couple of years from the skill Giannis has brought to Milwaukee. Ticket sales and advertisements have boosted their liking's as well and he could be the next big thing for the future of the NBA.
ReplyDeleteThe city of Milwaukee definitely benefits from having Giannis as a player. Having a star player that is at an MVP competing level definitely brings revenue to the city. When Lebron comes into town,I am there in a heartbeat. I love the things he does out in the community, and I think he is a great player to watch as he has a lot of talent. With Giannis many people are inspired by him and one can assume that huge fans would travel to see the work that he puts in. Also with the new arena, I feel as though it is less likely that Giannis would leave to play for another team as essentially he is the star of the city playing in a new facility. Additionally, if Giannis would leave to play for a different team the city would be at a downfall and the demand of people wanting to go to the games could severely decrease which would bring down revenue not only for the arena but for local restaurants and hotels. This could be a possibility as players move around to different teams for different opportunities. In reality, it is a lot of money to contract such a star. The only thing that makes up for contracting such a star is the revenue that is brought into the city and the amount of fans that are coming out to see him play in the new arena.
ReplyDeleteWhat would happen if he decided to play for a different team? Wouldn’t our revenue go down overall? It is clear that before Giannis was playing for the Bucks, the overall franchise was very low. Less people would want to come and see a game if they’re star player isn’t playing anymore. With less people attending games there could be debt especially with the new arena that costs $524,000,000. Plus, in order to get him play more years in a contract, the coaches and managers of the Bucks would have to compete greatly with other teams which could end up in spending more money just to have a good player on the team.
ReplyDeleteKaustav I like your piece! Besides people going to games because of suck a good team and amazing player like Giannis, people a lot want to buy more merchandise from the team. I know when I go to sports outlet stores, the main jersey you always see is Giannis's. People love watching him so they also love sporting off his jersey. This in tern helps out other companies as well to increase their sales, even if they are located in Milwaukee. When a player like Giannis does well, there are so many unseen benefits, that that player really becomes a factor engrained in the economy within that city.
ReplyDeleteI agree that the bringing on a superstar like Giannis is extremely beneficial to the whole city of Milwaukee and the Bucks franchise as a whole. It will be interesting to me how much the city grows as a whole not just for Giannis, but also from the construction of the Fiserv Forum. The basketball atmosphere in Milwaukee has really grown in the past few years and in the future I wonder how much people will want to play for the bucks now that we have the new stadium and the Bucks value is climbing. I can't wait for the future of this team and to see where it goes.
ReplyDeleteGiannis playing for the bucks and the bucks' recent success both fuels the market. I wonder, if Giannis went to another team but the Bucks continued their strong playing, would their gains in both fans and revenue still increase? Has Giannis hit the super star level that people are going to the games just to see him or are people going to the games because the Bucks are winning them. I think it depends on peoples taste for basketball: do they want to see superstars play or do they just want to see winning games?
ReplyDeleteIt is easy to say that Giannis has changed the face of the NBA. Within his limited time in the NBA, Giannis has changed the way teams defend him. It takes a whole team in order to stop him from getting into the paint. This allows the Bucks and the NBA in general to sell a great amount of merchandise because his story is so appealing because he comes from being poor.
ReplyDeleteI personally find it very interesting that one person can help bring in so much revenue to a single city. However it is not surprising as when teams preform better, more people like to watch and attend games as you alluded to in the article. The demand for these tickets increase, however, teams can't just start adding thousands of seats to their arenas, therefore the supply stays the say. This allows teams to jack prices up for tickets when they are in high demand as they know that people will pay more. This is also the reason why good teams continue to become richer and bad teams continue to become poorer.
ReplyDeleteSomeone who holds as much talent as Giannis does is hard to come by. Not only that, but someone who can play basically any position effectively if needed, is sure to bring in lots of fans. Seeing the Bucks' value rise steadily over time is interesting to see, because in 2014, when Giannis was picked for the Bucks, the value jumped almost $200 million. Being the face of the Bucks, Giannis plays an important role in how the team is perceived by other teams and cities, which can effect total revenue for a game. Not only that but due to ticket sales and advertisements featuring Giannis, sales have only boosted more.
ReplyDeleteI think it is crazy that one person can have such a huge economic impact on a city’s economy. Giannis is still new to the bucks, and is a player that continues to get better, so I bet his economic impact will continue to grow. It is a good thing the Bucks created the Fiserv Forum because it is such a nice stadium and people would want to go to a basketball game there to see their favorite players. By the Bucks having a good stadium and fan favorites on their team, they are adding lots of good things the the economy here in Milwaukee. With a good player on the team, ticket prices will go up because the Bucks know people will be willing to pay a higher price for a ticket to a game with a player like Giannis.
ReplyDeleteI find it actually quite easy to understand what Giannis has done for Milwaukee nor do I think it doesn't make sense it happens everywhere in all sports a team is doing absolutely terrible and they have very little of a fan base at the time but say they stop playing bad and one year make the playoffs. And then outta nowhere you'll see ppl who just were fans of Golden state warriors start to like the bucks so what I get from that is similar to the definition of bandwagon the bucks weren't in a good position before giannis got there and now his super stardom has brought millions of dollars to not only milwaukee county but also Wisconsin.
ReplyDeleteI agree that his rise to greatness is bringing more business to the arena and all of the businesses around it, but also his rise to greatness is bringing more business to online or in store bucks merchandise sellers specifically anyone that sells Giannis jersey’s, but it’s not only Giannis that is causing this it’s the entry team because then if it was only Giannis why did they have lower revenue last year because it isn’t like he played that much worse last year, it’s because the rest of the team didn’t play so great last year and now they are all play pretty well.
ReplyDeleteGiannis Antetokounmpo has clearly brought a lot of revenue to the Bucks and the Milwaukee area. The increased demand for games, merchandise, and all the things that go along with them allows the organization and local businesses to make a profit, and possible even charge more for their goods and services since most people are still willing to pay the higher price. Based on the profit increase that has come due to his popularity, it is safe to say that if he changed teams, the Bucks and Milwaukee would lose all the profit to whatever city he decided to go with. Those who are here for Giannis, and don’t really care about the Bucks would likely begin supporting the team he changes to. The demand for Bucks games and merchandise would go down, while the demand for the other team’s goods and services would go up, bringing in more profit for them, and leaving the Bucks back where they were before Giannis came on the scene.
ReplyDeleteHow did people think we could afford the Fiserv forum ?
ReplyDeleteI think that it's remarkable to see a player who was drafted in the 2013 start to grow into a popular player he is not only for his team but for the city as well. So many people around the world look up to Giannis as a role model with everything that he has done and without him, the team would start to descend. Giannis isn't also the only person who is trying to help other people out around the world and that is why people look up to Giannis because he and his teammates help others in the city and others around him.
ReplyDeleteAgastya Asthana,
ReplyDeleteI never thought of the NBA as a medium through which businesses gain their money, but as it turns out, NBA and NBA players can have significant impact on the economy of a state. Giannis started as a underdog and know is a highly priced player in the NBA. Giannis has inspired many people all over Wisconsin and did a lot more than just add revenue to the neighbouring businesses. Giannis also adds to the economy through the NBA shop. Due to his increased fan following, people are more willing/interested in buying jerseys that relates to Giannis in any way shape or form. Giannis also promotes the Bucks and that means that people are more willing to buy Bucks merchandise and any other product or service endorsed by the bucks. I agree with Camden K. in that good teams get richer and bad teams get poorer.
I agree that by bringing in a star prospect like Yannis, the Bucks were aiming to create a new culture around the Bucks. By bringing in a player like this, they were increasing their popularity around the country, and are creating new economic gains. Looking at the current season, they are having high ticket sales, bringing in new revenue and fans. The addition of Yannis also increasing jersey sales and sponsorship. All together, the Bucks have created a new brand and are making a lot more money than before, and a large reason is because of Yannis.
ReplyDeleteI agree that drafting Giannis was not only a great opportunity for the team. But it was great opportunity for the city of Milwaukee and the area in general. As a NBA team improves it will begin to bring in revenue for the entire economy of the city. Giannis and the Bucks are changing the aspect and feel of the city of Milwaukee. This is very important and the Bucks are doing the entire city of Milwaukee a huge favor.
ReplyDeleteThe Bucks have been in a slump for the past few decades, but now, the Bucks have a chance to make a championship run. This has helped the bucks gain more of a following in the city of Milwaukee. This helped them be able to make a new stadium and help the city of Milwaukee grow financially. If the Bucks make it to the finals, it will also help the city.
ReplyDeleteGreat point made by showing how superstars in sports teams boost the whole area's concentration of business, not just for their team. I would be interested to see if the same thing will happen with the brewers after Christian Yelich had a MVP-caliber season this year.This could help the Milwaukee economy with boosting small restaurants' and other businesses' revenue with tourists coming around town.
ReplyDeleteI agre, Giannis brought a great character on and off the court to Milwaukee and in an economic stand point Giannis has brought the numbers of fans up by large amounts. From a Milwaukee team who hasn't seen this amount of fan turnout and revenue since the Ray Allen era there is no doubt Giannis has brought Milwaukee Bucks basketball back into the spotlight.
ReplyDeleteSuperstars in any sports make the overall cities economy boost, it's very interesting to see how much Giannis has not only improved his game but also has tremendously boosted the value of the Bucks and Milwaukee as a whole. It's honestly one of the coolest things to see one athlete single handily transform a cities economy to benefit everyone. Another crazy thing is Giannis this kid from Greece that no one knew about and grew up in a pretty rough part of Greece. Has now turned into a two time all star boosting his economic status and the city of Milwaukee.
ReplyDeleteI love how you used the example of Lebron James and his impact on the state of Ohio and the impact it had when he left. I would make sure to include that when you say tickets were only $2 at the Cavaliers games, make a comparison between that number and the price for a ticket when Lebron was on the team to show that impact statistically and enhance your speech. I would also make sure to think about your audience a bit when you say Giannis was a 60 out of 100 on NBA 2k14, because most of your audience may not know what that means so I would either re-word that sentence or scratch it entirely.
ReplyDeleteIt's amazing how one person can affect the economy of the whole city. Since there was a change in expectations for the Milwaukee Bucks by consumers, the demand for Bucks tickets rises and therefore, the Milwaukee Bucks make more money. Not only that but with the new basketball stadium for the Bucks, they produce a more quality product for the fans and can therefore charge more for their tickets. They make more money that way just for Giannis.
ReplyDeleteI love all the different aspects you touched on as to why Giannis is a great asset to the city of Milwaukee! It was great that you highlighted the effect he could have on tourists and travel to Milwaukee, along with the comparison to another well known favorite, Lebron James. It was also interesting to note that after Lebron left the Cavaliers, their ticket prices dropped dramatically, showing the change in demand considering the NBA can be considered a monopoly. They have control over every single team in the nation, therefore they can be price makers with ticket prices. Having superstars like Giannis definitely benefits the NBA positively as well, as much as the team he is signed to because, like you said, more and more talented foreigners will shoot their shot (pun intended) to get drafted to an American team and therefore bring in more money to the respective city and the NBA.
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