Anheuser-Busch was one of the first corporate owners, buying baseball's St. Louis Cardinals in 1953 and selling the team in 1996. Pro-team owners pay to play, and finding funds is the name of the game. The Boston Celtics and the Florida Panthers trade publicly. US sports networks are also expanding to global audiences. ESPN is not alone.
Teams typically overspend on bonuses for free-agent superstars.
Big payrolls, in turn, take big tolls. The most dominant nonowner in sports is Phil Knight, whose NIKE has set a tone of frank commercialism and anti-establishment attitude in sports. The commercialization of sports has sent athletes' earnings through the stratosphere. In addition, leagues make marketing deals with their suppliers. In one notable example, the Cleveland Browns football team had a devoted following, but in 1996 owner Art Modell decided to take them to Baltimore for a better deal.