James Quirk is retired Professor of Economics at California Institute of Technology. He is a widely recognized
expert on the economics of sports, and is the author of Minnesota Football: The Golden Years, 1932-1941.
Fort, Rodney D. : Washington State University
Rodney D. Fort is Associate Professor of Economics at Washington State University. He has written for numerous
sports publications, and is the President of the Local Youth Baseball Association.
Review
"Call this volume The Wealth of Nations of professional sports. Unrivaled in scope, the book should stand
for quite some time as the basic work from which all descendants will spring."
--Steve Gietschier, The Sporting News
"The book is written in a readerfriendly fashion, is chockfull of anecdotes, is conceptually sound, and
is bulging with useful data. Pay Dirt is a solid scholarly contribution to the literature on the economics of sports."
--Gerald Scully, Journal of Political Economy
"Blending illuminating (and entertaining) anecdotes with economic analysis, James Quirk leads readers through
the increasingly complex labyrinth of a significant industryprofessional sports. Along the way he slays the notion
that economics is the `dismal science.' He demonstrates that decisions made in the executive offices of sports
franchises can be as fascinating as, and can influence, what happens in the games. All Americans are involved in
the sports business as ticketbuyers, taxpayers, and participants in the culture that shapes and is shaped by professional
sports. So there should be a wide readership for this intelligent guide to reading newspapers' sports pages, which
increasingly resemble business pages."
--George Will
Submitted by the Publisher, April, 2002
Summary
In the 1990s, players are earning record salaries and owners are making record profits in each of the pro team
sports. However, the unrest that has accompanied these windfalls is staggering. There was the cancellation of the
1994 World Series because of a players strike, and Art Modell's decision to move one of the most successful franchises
in football history because he wanted a new stadium and that's just the beginning. Now available for the first
time in paperback, this veritable bible of sports economics clearly explains the effects of salary caps, the reasons
why owners fear antitrust hearings in Washington, why sweetheart deals for new stadiums are becoming the norm,
and why everyone is making so much money in sports at the expense of the fan.
"Quirk demonstrates that decisions made in the executive offices of sports franchises can be as fascinating
as, and can influence, what happens in the games. All Americans are involved in the sports business as ticket-buyers,
tax- payers, and participants in the culture that shapes and is shaped by professional sports. So there should
be a wide readership for this intelligent guide to reading newspapers' sports pages, which increasingly resemble
business pages."
George Will
"Call this volume `The Wealth of Nations' of professional sports. Unrivaled in scope, the [book]
should stand for quite some time as the basic work from which all descendants will spring."
Steve Gietschier, The Sporting News
Table of Contents
List of Illustrations
List of Tables
Preface
Ch. 1 Introduction
Ch. 2 The Market for Sports Franchises
Ch. 3 Taxes, Taxes, and More Taxes
Ch. 4 Stadiums and Arenas
Ch. 5 The Reserve Clause and Antitrust Laws
Ch. 6 Why Do Pro Athletes Make So Much Money?
Ch. 7 Competitive Balance in Sports Leagues
Ch. 8 Rival Leagues and League Expansion: Baseball, Basketball, and Hockey
Ch. 9 Rival Leagues: The Great Football Wars
Postscript
Appendix to Chapter 3
Appendix to Chapter 6
Appendix to Chapter 8
Data Supplement
Ownership Histories
Attendance Records
Radio and Television Income
Bibliography
Index of Names
Index of Court Cases
