1. Exorbitant amount of money involved, industry wrought with debauchery
1.1. Investments
1.1.1. Salaries
1.1.1.1. Huge salaries not merited
1.1.1.1.1. Lionel Messi earned 33 million euros from Barcelona exclusive of his sponsorship deals with Adidas and Pepsi, yet the average salary in Spain is less than 32 thousand euros
1.1.2. Merchandise
1.1.2.1. Vast amounts of money spent by fans on team not justifiable when there is so much hardship in the world
1.1.2.1.1. Top five european leagues generated liscensing and merchandising revenue of 631 million euros in 2011 alone, during a period of global economic instability and uncertainty
1.1.3. Transfers
1.1.3.1. New node
1.2. Who? Government, corporations and the spectators (Merchandise)
2. NO! IT DOESN'T >:(
2.1. Compromises the integrity of sports
2.1.1. Bribery- IOC, FIFA eg. Issa Hayatou long-term IOC member, the FIFA vice president accepted $15,000 as a bribe in 1995 from a marketing company.
2.1.2. Values of sportsmanship will be lost in the pursuit of MONEY$$$
2.1.3. Cheating, match fixing, performance enchancing drugs (eg. steroids) Players want to win at any cost and may neglect the true values of sportsmanship, etc. Vast sums of money --> high level of competitiveness leads to many vices e.g doping, injuring the other athletes or underhanded means to win
2.2. Huge amounts of money used to purchase players -- unnecessary
2.2.1. The transfer fee of Cristiano Ronaldo was £80 million when he crossed over from Manchester United to Real Madrid in 2009 -- the highest ever in soccer history!
2.3. Strain on government budget: Money eventually comes from taxpayers
2.3.1. New node
2.4. Money can be used to finance other government projects like education and defence (high opportunity costs)
2.4.1. Unlimited wants, Limited resources
2.5. Huge amounts of money spent by spectators/fans to purchase the merchandises
2.6. Under-utilisation of the facilities after the games are overrrrrrr
3. Definitions
3.1. Vast sums of money
3.1.1. Organization of sporting events
3.1.2. Build sport facilities
3.1.2.1. if all these are built throughout the nation and a majority of the people have access to these facilities then there will be health benefits as these places can be used for recreation and fitness training
3.1.2.2. Facilities for hosting of major sporting events E.g 'Bird Nest' stadium in Beijing for Olympics. Source of pride and tourist attraction
3.1.3. Sports sponsorship
3.1.4. Salaries of sportsmen
3.1.4.1. Athletes like soccer and basketball players earn up to a few hundred thousands per game they play, depending on their level of professionalism. Besides the salaries, many players are also ambassadors for established brands. David Beckham had recently became the new face of the new collection of apparels from H&M
3.1.5. Transfer fees
3.1.6. Prize money and trophies
3.2. Sport
3.2.1. Competitive
3.2.1.1. sacrifice, intensity, contention for prize
3.2.2. Non-competitive
3.2.2.1. fun, relaxation
3.2.3. Team games
3.2.3.1. soccer, basketball etc
3.2.4. Individual games
3.2.4.1. Bowling, gymnastics, tennis, boxing etc
3.2.5. Physical activity
3.3. Merit
4. Yes! It Does! :)
4.1. It is lucrative business as it can boost the tourism industry as well as the entertainment industry. Also puts Singapore on the world map.
4.1.1. Despite the fact that YOG budget ballooned from S$100M to S$387M, the Games has benefitted Singapore in its tourism industry and contributed to Singapore's economic growth of 10% in 2010
4.1.2. It becomes a sense of motivation for athletes to strive towards their goals. The atheletes have worked so hard for the games so they deserve it.
4.1.2.1. Example: Table Tennis athletes representing Singapore like Feng Tian Wei and Li Jia Wei
4.2. Allows young talents to develop. It allows them to pursue a professional athletic career, allowing them to earn a living while doing what they are good at and passionate about.
4.2.1. The Multi-Million Dollar Awards Programme by the Sinagpore National Olympic Council awartds cash payouts to athleets who attain top position at 4 important international and regional meets (Olympic, Asian, Commonwealth and South East Asian Games). A gold medal at Olympics will award the athlete with 1 Milllion SGD
4.2.1.1. This encourages athletes to train for their sport without worrying about their financial situation. This also encourages young and talented athletes to take up the career of a professional athlete and further enhancing the sports scene in the country.
4.3. The facilities and infrastructure that are built for sportsmen to train at can also be used by the others for recreation and exercise after the event -- Spillover Effect ( * can be counter argument, facilities may not be used after the event- waste $ and resources)
4.4. Does not undermine sport values
4.4.1. If fans cheer players' on for reckless behavior then players do have to keep up to keep fans entertained.
4.5. Political
4.5.1. Improve diplomatic ties between countries