June 10, 2010
The Economics of Strasburg
Posted by Lisa Fairfax

By now I am sure you have heard about the debut of No 1. draft pick Stephen Stasburg.  At just 21, there was a lot riding on the Washington Nationals most anticipated pitcher.  Alas, with a team record 14 strike-outs on Tuesday night, Strasburg did not disappoint.  And the DC fans are simply giddy!  Of course, there are many people who are hoping he also does not disappoint on the economic side. 

To be sure, his four-year contract worth $15 million has already set a record with respect to salary.  But most believe the investment will be well worth it.  Apparently he is already having an impact on ticket and merchandise sells, bringing some 24,000 more fans to his Tuesday night opening.  And I can only imagine what sales of his jersey will be like.  Some hope that his presence also will have an impact on the real estate market near Nationals Park, where now empty condo buildings are apparently getting a second look.  Others hope that he will be a boon to the restaurant business.  In fact, in just the last day, several establishments have created versions of the "Strasburger" in his honor.  And while there are plenty of Nationals' ticket holders anxious to see Strasburg, there also are those hoping to capitalize by reselling their tickets in the secondary market.  And thus far those resellers should not be disappointed.  Indeed, apparently the ticket price on the secondary market for Strasburg's debut game was 146% higher than ticket prices for home games in May.  Then too, the Am Law Daily notes that plenty of lawyers were eagerly watching Strasburg's debut--not simply as fans, but also because many had "dedicated a good portion of their billable time" to bringing the Nationals to DC and trying to breathe life into the franchise.  It certainly seems like those efforts have paid off.  At least for now, Strasburg is not only boosting DC baseball, but also its economy.  What more could you ask for from America's pastime?

Sports | Bookmark

TrackBacks (0)

TrackBack URL for this entry:

Links to weblogs that reference The Economics of Strasburg:

Recent Comments
Popular Threads
Search The Glom
The Glom on Twitter
Archives by Topic
Archives by Date
January 2019
Sun Mon Tue Wed Thu Fri Sat
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31    
Miscellaneous Links