Entourage Economics Written by Hannah Karp. -Define Entourage - Benefits of Entourages -Problems with Entourages -Examples -Future Developments -Questions.

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Presentation transcript:

Entourage Economics Written by Hannah Karp

-Define Entourage - Benefits of Entourages -Problems with Entourages -Examples -Future Developments -Questions

Entourages: What are They? Liability or Asset? Duties vary from person to person Can range from security to fetching food to running athletes organizations Does the “Dirty Work” of the athletes “We’re not here to hang out and party, we’re here to make him go.” –Matt Nielson on Mike Bibby’s entourage Support System for athletes Follows of athletes for a price Often being friends of the athletes Sometimes just simply freelancers

Rise of Entourages As the income of athletes have risen, so have the number of entourages – In 1967, average price for football, basketball, baseball and hockey players was $20,000 – In 1995, average basketball salary had cracked $1 million – Today, averages are: Basketball: $5.4 million Baseball: $3 million Football: $1.4 million With the rise in prices, more athletes are able to afford to have more entourages

Benefits of An Entourage Support System Security Take Care of Odd jobs/ Supervisor Financial Advise Friend’s with experience in certain field

Problems Come under scrutiny for administering performance- enhancing drugs. Extremely expensive - Possible of bankruptcy - Waste of money Violence Jeopardize career

- Although bad reputations are associated with entourages, they can be very helpful - Justin McCarein’s father manages ticket requests - Thomas Howard uses two guys for security in clubs -Raul Jaimes rents houses for the staff, finds transportation, and equips the chef for Oscar de la Hoya

Some entourages seem to cause more trouble than they are worth Oscar de la Hoya spent $400,000 on an entourage of 10 Adam Jones was suspended when violence broke out around him M.C. Hammer lost his $30 million fortune and filed for bankruptcy because of his 200 member entourage How can entourages develop into more efficient, positive groups?...

The Future of Entourages The world of entourages is changing. – Athletes are turning them from liabilities to assets – Beginning to see a switch from just friends who need money to friends with specialties-making it a true job Using freelancers to save money Smaller, more specialized entourages Running it as a business