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The Contribution of Economic Science Within The Sports Industry
The sports area hasn’t always been a serious one and is mostly hot at topics usually. This area has not always been an area in which a serious economic activity was developing or taking notable routes for centuries. Nevertheless, with the help of economic science, experts were able to devise new and effective ways for economic evolution much more stable and contemplating than before and thus an entirely new market, the sports market. Specifically, that was the beginning of the commercialization of sport. The hitherto commercially untouched sports activity was recognized as the new commercial «Eldorado», a growing and promising market for many. The fans were the new consumers in this newly emerged market. The stadiums were converted into shopping malls alongside the inclusion of signs and colours of the teams into «gadgets», athletes and their memorandum as well as signature accessories transformed into marketable products whose value raised or dropped accordingly, groups were converted into listed companies which were more than just some notable emergence with stock shares and all with the help of TV, mainstream media and the Internet which also includes a much larger part concerned with social media and microblogging as well as e-marketing to a much larger extent.
Sports Market’s Association with the Law and Sports Law
Economic science, however, was not the only science to invade and transforming a massive disruption in sports. A major impacting role in the development of sports alongside its much preferable sports law was also played by legal science and its departments globally. During the 1970s, the sport’s commercialization seems to have acquired a much more professional nature that has surprisingly led to a significant as well as major impacting increase in all areas especially within the financial figures and the stocks to be more precise. The broadcasting by the mainstream media, the sponsorship of professional football, basketball and other various sports within Europe, caused the disruptive emergence of sporting disputes. Discussions which had to be tried before the courts in a legislative manner, sports or not. As the disputes were rapidly increasing the lawyers in general, as well as the courts, have begun to use certain legal concepts alongside several legal principles, and legal arguments in much deliberate and co-operative manner. These conditions in the legal practice which were combined with the sports legal theory evolving in the universities created the notable conditions for the international recognition of sports law as a brand new and much more impacting legal order. Therefore, within sports law, we can easily find several principles of international law with the inclusion of administrative law, commercial law, civil and criminal law as well. A wide variety of these principles are not integrated directly into the sports law and its legal order but as they enter the area of the sports, they are reshaped as either new rules or exceptions to the existing rules within the industry or the sports market. Taking the example of doping in sport, we can clearly witness the rule of a very common criminal prohibition that is associated with the usage of cocaine which transformed to a sports rule infringement with many new legal consequences as well. And so it isn’t impolite to state that we have a newly originated sporting rule with much more recognition and impact ever imagined. While all this seems legit to many extents, on the other hand, we see the case of an antipyretic drug, that every ordinary person can use freely without any prohibition, being prohibited for athletes, which means that this new sport’s rule is a much more vast exception to a pre-existing general rule which we have known for centuries only slightly changed with the accordance of its industry and market.
References
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