The amount of revenue a sports team can generate for a local economy is anything but a shocking statement. Recently, the city of Vancouver has announced that they have the capability of adding a professional basketball team. I believe that the sold-out Raptors vs Kings game in Vancouver in early October validated the fact that there is a large portion of basketball fans residing in Vancouver.

A news report demonstrating the effect that a sports market, such as hockey, has on local businesses proves that not only does the sports organization itself strive, but so do local bars and restaurants broadcasting games to its customers as well as sports apparel stores merchandising jerseys. Yes, there is no doubt that this is a big investment. Adding a new sports team will involve increased facilities to accommodate all the professional sports teams in the city. However, I am certain that the pros outweigh the cons. This relocation could potentially generate various external opportunities that can enhance the franchise. Economically, there will be more jobs in the work force for those working at bars and restaurants or selling concession. Socially, it is clear to me that this is a sports city. Vancouverites take pride and joy in cheering for the Canucks, Whitecaps, and the Lions.

“Spectator sports employ 93,500 people across Canada, about 0.5 per cent of the total workforce. That directly contributed $4.5 billion to Canada’s economy in 2010.”

An additional sports team in Vancouver can initiate similar statistics.

Picture source: Google images