A report released yesterday shows the nine pro sports teams
in the NY/NJ area contributed about $1.1B to the NYC economy last
year, but they play only a "supporting role" in the overall $6.9B
impact from sports-related businesses and events, according to
Steve Zipay of NEWSDAY. The 140-page report, issued by the NYC
Comptroller's Office, said the sports industry contributed 2.3%
of the city's $302B economy in '95. The $4.66B impact of what
the report labels the "permanent sports industry" is nearly twice
as significant as all sports events combined. This is composed
of marketing and professional sports services, such as law,
medicine and accounting ($1.85B); sports publications ($1.47B);
and TV network fees ($975M). In addition, league and federation
headquarters staffing and facilities' capital spending was
identified as $211M and $142M. Event and boost to the NYC
economy: U.S. Open ($226M), horse racing ($345M), amateur and
college sports ($310M), Yankees ($307M), Mets ($211M), Knicks
($196M), Rangers ($156M), Giants ($102M), Jets ($93M), Nets
($40M), Devils ($25M), and Islanders ($21M). Soccer, golf and
bowling generated $190M (NEWSDAY, 11/14). The Yankees World
Series victory combined with the New York City Marathon
contributed an extra $161.2M over a two-week span this fall (USA
TODAY, 11/14).
