Chapter 3 Flashcards
A payoff or profit received in addition to regular wage or payment
Perk
What is the number one factor in the financial success of a franchise?
Winning
A combination of independent businesses formed to regulate production, pricing, and marketing of a product
Cartel
Why are cartels typically illegal?
It’s all about competition and this removed competition, this also raised prices and is unfair for consumers
What are ways a sports team can make money?
Advertisement Merchandise Ticket sales Concession stands Tv rights Profit sharing Licensing
The legal representative of a celebrity
Agent
Someone who works with an athlete very closely who are unable to handle themselves
Handlers
Financial and business counselors rather than behavior monitors
Advisers
A system of deciding what is right and wrong in a reasoned and impartial manner
Ethics
Personal beliefs and opinions
Morals
Highest paid athlete
Mayweather
