By Bill Nestor
Big money is the engine that drives the bus in sports these days. It’s needed to make it on the college scene and it is needed to purchase a piece of the professional pie. But if you are a top tier athlete, it’s all there for the taking.
West Virginia University is trying to keep up with the big boys on the highest level in collegiate sports. To do so, Athletic Director Wren Baker has had to find creative ways to keep the Mountaineer program in the game.
Not long ago, Baker helped to grow the Mountaineer Athletic Club to just shy of 8,000 members. Baker’s efforts helped lead the way to a record $111 million in philanthropic support. How does that stack up to previous years? It dwarfs the previous record of $38 million in a single year. Sure, it is the belief that the donors have in WVU’s athletic programs that helps them to open up their wallets. Baker has turned over the head coaches in all of the major programs that all appear to be on the upswing.
He is also saying a lot of the right things to the right people that have the means to make a difference.
The old saying is that you have to spend money to make it and Baker announced West Virginia’s budget has blown past $150 million, by far the largest the Athletic Department has ever seen. If you want to see some smiling faces, just take a gander at all the Mountaineer coaches who benefit most from this growth.
One of the most recognizable brands in professional sports is the Los Angeles Lakers. Dr. Jerry Buss purchased the Lakers in 1979 and owned them for 34 years. During that span, they made it to the Finals 16 times. After his passing, his children had control of the team and during the Buss family ownership, L. A. claimed 11 NBA titles.
Dr. Buss paid $67.5 million for the Lakers in 1979 and at that time, it was the largest transaction in sports history.
This past year, the Lakers were sold twice. The second time occurred recently when Josh Kushner and Bob Iger shelled out $12.5 billion to claim ownership of the Lakers. It is a big chunk of change, but if history repeated itself this investment is sure to pay big dividends.
It could come in the form of championships. That is the big unknown. Financially purchasing the Lakers, however, is a smart business move.
The FedEx Cup concludes on August 30 and there are several golfers in the mix for the grand prize. The top player in points and earnings this year is Scottie Scheffler. Scheffler has earned $16,911,275 which is over $2.5 million more than second place in earnings, Cameron Young. What is amazing about Scheffler’s total is that he amassed that lofty total with only one win this season.
Out of the top 32 players, 21 of them have earned $5 million or more, showing the earning potential on the PGA Tour. In case you are wondering, the last man standing at the end of this month will claim $10 million as the FedEx champion. There are some very high salaries in professional team sports, but when it comes to individual sports, golf has the top payday. Cash is king and golf has the crown!
That will do it for now! Until next week . . . take care and God Bless!!!!!
