Economics of Sports

Описание: By Carter Graham

The Wolford Family Athletics Center hosted a panel on Thursday, Feb. 6, to discuss the “Economics of Sports” at the University of Tennessee at Chattanooga.

Dr. Claudia Kramer, the Scott L. Probasco Jr. Distinguished Chair of Free Enterprise, organized the event to highlight the influence economics has on the athletic landscape from amateur to professional sports.

“Economics is a way of thinking and it’s about problem solving,” Kramer said in her welcoming remarks. “Sports economists apply the economic way of thinking to anything and everything, including sports.”

She explained that to the economists, sports are seen through a market-driven lens.

“The economic way of thinking allows us to see sports not just as entertainment but as a competitive, complex market to be studied and understood.”

Dr. Robert Dooley, UTC’s interim chancellor, opened the panel with an introductory statement to the sold-out crowd and announced prizes for attendees like UTC women’s basketball tickets, a game-worn football jersey and a signed football.

“Sports are more than just games,” Dooley said. “They’re powerful economic engines that shape communities, influence markets and inspire millions. Today, we have the opportunity to explore the business side of sports with an exceptional panel of experts.”

Panelists included Randy Boyd, president of the University of Tennessee System and founder of Radio Systems Corporation, Boyd Sports and tnAchieves. Boyd Sports runs five teams, including the Tennessee Smokies, who are opening a new stadium in Knoxville this year.

Dr. Brad R. Humphreys, a professor of economics from the John Chambers College of Business and Economics at West Virginia University, is the co-editor of “The Business of Sport,” a three-volume work on sports business, economics and finance.

Jay Greeson, a sportswriter and columnist at the Chattanooga Times Free Press, moderated the panel.

Read more at https://blog.utc.edu/news/2025/02/nil...