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Are sports recession-proof?

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That AIG is now the property os the US government doesn't mean we also own the services of Sir Wayne, sadly.

In the current issue of The Economist, the question is asked, are sports somehow recession-proof? The question itself implies a certain grounded stability amidst economic tornado season.

Central logic: sports are more immune to the troubles because of myriad forms of revenue. If attendance is down, TV contracts for billions, signed years in advance, guarantee revenue. Jerseys and hot dogs are still sold. Beer is still consumed at $6 a cup (and often). Luxury boxes still sell. Players making a little less are still making millions beyond what even top attorneys or doctors would pine for.

"Leading sports are, by and large, standing up to recession better than most," the analysis states. "As recession grips, fans may decide that season tickets are too great a luxury, but they will cling on to their television subscriptions. The other advantage is timing, which is just as important in the business of sport as it is on the field of play. Long-term broadcasting contracts help to lay a good base of revenue and some sports are in the early days of such deals. The IPL, for instance, started out with a ten-year, $1 billion agreement. In America the National Basketball Association is in the first season of eight-year contracts worth $7.5 billion. With a sought-after event, it is possible to plan ahead—beyond, with luck, today's troubles."

The piece concludes that at lower levels, there could be struggles. The Yankees are still the Yankees, but what about the lowest branch in their farm system?

The article concludes: "This is not a good time to be looking for a sponsor to name a new stadium or for a lender to finance it. But the world of sport can console itself. In hard times people need escapism more than ever, it seems. They like heroes to watch and cheer. And still they are willing to pay."

Elsewhere…

A Man U fan drives to Scotland to hook up with girl he met on Facebook, only to find out the "girl" were two Liverpool fans pranking him.

Chinese retiree encourages other elders to get their exercise by acting all Peter Pan.

A school where you learn only through video games.

A British woman is banned from boxing because of her implants. Yeah, those.

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