The NBA in Canada
When the city of Toronto was granted an NBA franchise, the team was faced with a very unique challenge. How can a team, which plays a winter sport, effectively market itself in a hockey-crazed country? Although basketball was popular in small pockets around the province despite the lack of an NBA team, most sports fans were hockey fans first and foremost. Critics claimed that Canadian teams lacked the essential requirements to sustain a successful NBA franchise and would struggle just to stay afloat in the corporate dominated sports world. Despite the recent demise of the Vancouver Grizzlies, the Toronto Raptors have overcome the widely held belief that a Canadian city could not adequately support an NBA franchise. They have accomplished this task through effective marketing to fans, strong corporate partnerships and effective management of player salaries. One of the main concerns of the NBA was that Canada lacked sufficient fan support and would not be able to provide enough revenue to continue operation. But as the Raptors enter into their sixth year of operation, fan support and revenue is at an all-time high. Situated in the recently constructed Air Canada Centre, the Raptors drew an average of 19
, 348 fans a game last season, just 552 short of capacity. 5 million dollars this year from local broadcasting agreements alone. Educating the agents of players to these financial tactics is the key to eliminating the fallacies of the Canadian tax issue. For the most part, Canadian fans have shown that they are willing to pay top bucks in order to enjoy a first rate ball club. The Canadian government (at the highest tax bracket) taxes somewhere around 48 percent, compared with 38 percent in the U. The tax differential gap is being narrowed as agents are educated on the tricks and strategies that can help lower the tax rate to a level on par with the United States. When the Vancouver Grizzlies franchise floundered in a frenzy of debt and financial struggles, many echoed sentiments discouraging the expansion of the NBA into Canada. Although the majority of these corporate relationships are still in their infantile stages, the affiliation between sponsors and broadcasting companies are expected to increase as the Raptors continue to develop connections and exploit the popularity of their players. 17, about $7 less than the league average of $51. The nation-wide attention, which the Raptors have achieved in a relatively short period of existence, has not gone unnoticed by industry strong houses and sponsorships. In fact, the recent success of the franchise has inspired media conglomerates BEC Inc.
Common topics in this essay:
Canada Centre,
Toronto Raptors,
Compensation Arrangement,
Cola Co,
Carter Raptors,
NBA CANADA,
Leafs MLSE,
Bulls-Utah Jazz,
Vince Carter,
Centre Raptors,
toronto raptors,
fan support,
richard peddie,
maple leafs,
canadian city,
nba franchise,
nba canada,
raptors organization,
maple leaf,
pension plan board,
ticket prices,
teachers pension plan,
raptors maple leafs,
air canada centre,
ontario teachers pension,
|
Acceptance Essays
