|
|
|
Tidal wave of money threatens to swamp sports
How high is the ceiling? We thought it had been reached when Kevin Garnett signed a six-year, $126 million contract with the Minnesota Timberwolves in the summer of 1997. But this year even more money was doled out behind the scenes: Cleveland businessman Al Lerner won the new Browns NFL franchise with a bid of $530 million; Rupert Murdoch purchased soccer's Manchester United for more than $1 billion; Disney agreed to pay $600 million over five years for the rights to broadcast the NHL, quadrupling the old TV contract despite poor ratings; and CBS brought the NFL back for four years at $2 billion. Let's not forget George Steinbrenner, who was negotiating to sell the New York Yankees to Cablevision for a price nearing $1 billion. Players, of course, also benefited -- especially baseball players. The Mets signed catcher Mike Piazza for $13 million a year, and then the Dodgers raised the bar to $15 million when they hooked free agent pitcher Kevin Brown with a seven-year, $105 million contract. Who will foot the bill for this mad orgy of spending? If you buy tickets, you will.
Photos by V.J. Lovero, Damian Dovarganes/AP
|
|
|
Copyright © 1999 CNN/SI. A Time Warner Company.
All Rights Reserved.
Terms under which this service is provided to you.
Read our privacy guidelines.
|
|
