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Olympic games and its economy
Olympic games and its economy
Essay on the olympics economic impact
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Peter Uberoth’s Role in the Promotion and Funding of the 1984 Los Angeles Olympics
In attempting to answer the question, I will cover the following
points: firstly defining the key terms, I will then give a brief
historical overview of the issue of how the Olympic games were funded
before 1984 Los Angeles Olympics. Using examples from the Olympic
games I will identify the reasons for his effect upon future Olympics
and influence of his different approach in future Olympics. To
conclude I will review where I think the issue of funding will go in
future Olympics.
The key terms that link into the topic is promotion of the Olympics
and commercialization of the Olympics. Although these may seem the
same but aren’t, they both link into together and work together but
they both have different effects. The promotion of the Olympics is
making people aware of the games and also a big factor is getting
companies to notice. This then leads on to the commercialization of
the Olympics this is where all the money comes into the sport from
sponsorships from big named companies.
The Olympics have not always been commercialized. In 1986 when the
Olympic games began the amateur status that was in place mend athletes
took part for the love of the sport not any money? This pattern
carried on into the 20th century, where England had many newly formed
governing bodies interpreting amateurism in an exclusive manner to
restrict participation. As sport spread through different cultures and
societies the attitudes began to change towards sport and money.
Commercial interest has been around right from the begging of the
modern games, for example in the 1908 London Olympics they attracted
crowds of over 100,000 spectators, The Olympic marathon had Oxo as its
‘Official Caterers’ providing Oxo to the runners and using the race as
part its newspaper advertisement. Commercial pressures also increased
in other sports such as Henry Ford who paid $100,000 for exclusive
rights sponsored the World Series in baseball.
Then in 1976 at the Montreal Olympics came the biggest mess the