When Did Athletes Start Getting Rich?

    Basketball star LeBron James made $33 million last year. And that probably doesn’t surprise anyone. We’re used to watching pro athletes make and spend millions of dollars. 

    Tennis star Serena Williams lives in a mansion. Golfer Tiger Woods has a four-hole golf course in his backyard. New England Patriots quarterback Tom Brady travels in a private jet.

    But there was a time when pro athletes could barely buy a car. In the 1940s, most basketball players made between $4,000 and $5,000 a year. That’s about $50,000 in today’s money. 

    So how did pro athletes start getting rich? Mostly, they have their fans to thank.

    Basketball star LeBron James made $33 million last year. That’s no surprise. We’re used to watching pro athletes make millions.

    Tennis star Serena Williams lives in a mansion. New England Patriots quarterback Tom Brady has a private jet.

    But there was a time when pro athletes could barely buy a car. In the 1940s, most basketball players made between $4,000 and $5,000 a year. That’s about $50,000 in today’s money.

    So how did pro athletes start getting rich? Mostly, they have their fans to thank.

    Basketball star LeBron James made $33 million last year—and that probably doesn’t surprise anyone. We’re accustomed to watching professional athletes make and spend millions of dollars.

    Tennis star Serena Williams lives in a mansion. Golfer Tiger Woods has a four-hole golf course in his backyard. New England Patriots quarterback Tom Brady travels in a private jet.

    But there was a time when pro athletes could barely afford a car. In the 1940s, most basketball players made between $4,000 and $5,000 a year—the equivalent of about $50,000 in today’s money.

    So how did professional athletes start getting rich? Mostly, they have their fans to thank.

    For most sports teams in 1950, there were two main ways to make money. They sold tickets to games and popcorn in the stadium. For fans, it was a good deal. You could see a Brooklyn Dodgers baseball game for 60 cents. 

    For players, the deal wasn’t so great. There wasn’t much money to go around. So salaries stayed low. In some pro sports, players couldn’t spend the off-season working out. They had to get second jobs so they could pay the rent.

    In the 1960s, television changed everything. It turned sports into a big business. In 1950, only 1 in 10 American homes had TVs. By 1960, 9 in 10 homes had TVs. And people sure loved watching sports.

    For most sports teams in 1950, there were two main ways to make money. They sold tickets to games. And they sold popcorn in the stadium. For fans, it was a good deal. You could see a Brooklyn Dodgers baseball game for 60 cents.

    For players, the deal wasn’t so great. Teams didn’t earn much. So players didn’t either. In some pro sports, players couldn’t spend the off-season working out. They had to get second jobs.

    That changed in the 1960s. TV turned sports into a big business. In 1950, only 1 in 10 U.S. homes had TVs. By 1960, it was 9 in 10. And fans loved to watch sports.

    For most sports teams in 1950, there were two main ways to make money: They sold tickets to games and popcorn in the stadium. For fans, it was a good deal: You could see a Brooklyn Dodgers baseball game for 60 cents.

    For players, the deal wasn’t so great. There wasn’t much money to go around, so salaries remained low. In some pro sports, players couldn’t spend the off-season working out. They had to get second jobs so they could pay the rent.

    In the 1960s, television changed everything. It turned sports into a big business. In 1950, only 10 percent of American households had TVs—but by 1960, 90 percent of households had TVs. And people certainly loved watching sports.

    At first, team owners were worried about TV. They thought fans wouldn’t pay to come to the stadium anymore. But the TV networks paid millions of dollars for the right to show games. That’s when sports teams started to get rich. 

    Eventually, the teams shared their wealth with players. In 1974, several baseball teams wanted a pitcher named Catfish Hunter. Hunter chose to play for the New York Yankees. They paid him $1 million just for picking their team.

    Since then, athletes have only gotten richer. In 2018, the highest-paid player in baseball will make $33 million. In basketball, the average salary is about $7 million a year. 

    Are sports stars worth the money? Many fans seem to think so. They will pay crazy prices to cheer for their favorite players.

    Want to see the Patriots play the Green Bay Packers this year? You’ll need about $500 for a ticket. And even at that price, you’ll have to sit 80 rows above the field. 

    But that’s OK. It’ll help pay for Tom Brady’s jet.

    At first, team owners worried about TV. They thought fans would stop coming to the stadium. But the TV networks paid millions for the right to show games. Soon sports teams started to get rich.

    In time, the teams shared their wealth with players. In 1974, several baseball teams wanted a pitcher named Catfish Hunter. He chose to play for the New York Yankees. They paid him $1 million just for picking their team.

    Since then, athletes have grown richer. In basketball, the average amount made is about $7 million a year.

    Are sports stars worth the money? Fans think so. They pay a lot to go to games.

    Want to see the Patriots play the Green Bay Packers this year? Your ticket will cost at least $500. 

    But that’s OK. It’ll help pay for Tom Brady’s jet. 

    At first, team owners were worried about TV. They thought fans wouldn’t pay to come to the stadium anymore. But when TV networks paid millions of dollars for the right to show games, sports teams started getting rich.

    Eventually, the teams shared their wealth with players. In 1974, several baseball teams wanted a pitcher named Catfish Hunter. When Hunter decided to play for the New York Yankees, they paid him $1 million just for picking their team.

    Since then, athletes’ salaries have continued to increase. In 2018, the highest-paid player in baseball will make $33 million. In basketball, the average salary is approximately $7 million a year.

    Are sports stars worth these massive paychecks? Many fans appear to think so—they’ll pay crazy prices to cheer for their favorite athletes.

    Want to see the Patriots play the Green Bay Packers this year? You’ll need about $500 for a ticket—and even at that price, you’ll have to sit 80 rows above the field.

    But that’s OK—it’ll help pay for Tom Brady’s jet.