New Money, New Problems

Almost 30 years ago, legendary Patriots quarterback Drew Bledsoe would have one of the massive contracts in the NFL, receiving $103,000,000 over ten years. In comparison to contracts today, he wouldn’t rank in the top 50 of the highest-paid NFL players of 2023. This comparison is a testament to the current trend of professional sports contracts rising to unbelievable amounts. While this may be an amazing feat for athletes and sports agencies, all good things must end, or do they? This recent spike in money put into an athlete’s contract directly results in how the media has played a giant role in generating revenue for professional sports leagues. From the NFL to the MLS, every major sports league now has licensing contracts with media conglomerates, which allows audiences to view the game not only in person but from the confines of their homes. With an enormous audience, sports have now amassed as more money will accumulate for the league. Therefore, if a sport keeps the entertainment value high, the money will be issued out, resulting in higher-paid athletes. However, is a higher-paid athlete beneficial to a franchise and its overall mindset? From adolescence, an athlete believes that they are the best of the best. This unwavering confidence is likely why so many people have made it into their respective leagues today. Nonetheless, a caveat to that is in a league where everyone believes they are the next megastar, where do you start to differentiate them? The answer is the contracts. Due to the contract mania currently happening in the NFL, if a player feels they aren’t being fairly compensated, they will engage in a “Holdout.” A holdout is where they will choose to sit out on required team practices or games, most commonly seen during training camps. According to the Harvard Business Review, research shows that if people know how much they make relative to others and if differences in pay can be tied to how their performance stacks up against fellow players, the harmful effects of differences in compensation can be negated. As sports reach new heights and increase their vast audience, the conflict over contacts will never subside. As the money continues to enlarge, so will the problems.