Sport, Commerce and the Market

Abstract

Over the past 50 years, we have witnessed a revolution in the organisation and social understanding of elite sport. Elite sport has been commercialised. Top-level athletes have become professionals who often receive remarkable levels of income and sporting events, such as the World Cup, are multi-billion dollar exercises that attract enormous levels of sponsorship. Many sports, such as cricket, have been substantially revamped in order to make them more appealing to mass audiences and, accordingly, more beneficial to sponsors and many clubs, such as Manchester United, have become corporations in their own right.