Nathan Fierston
My Capstone
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The Idea: How do sports teams and leagues affect the economy of cities around the world?
Why?
My passion is sports. I have been playing them for as long as I can remember. Whether it was baseball, golf, basketball, or soccer, I have always had the passion. I also live and die by the teams I root for. The Red Sox, the Buccanneers, and the Celtics have played a major part in my life. With that said, for my capstone, I want to look at how sports not only affect me but everyone around the world. Through this year-long research, I hope to get closer to my goal of being more literate in one of my deepest interests.
Premise Of My Research
There are two major angles I looked at. First, how major sports leagues run and why are they so profitable. More specifically at how the WNBA and the NBA have a disparity between them and why there is such a large wage gap. Second, I analyzed different sports teams and their relationship with the cities they are located in, with a particular interest in how they are making the cities money. Lastly, I looked at the city of Hartford and the failures of the Whalers, and how the city could have profited from the NHL team. I hope these different angles will give my reader a great look at how sports affect the economy.
Product 1: Paper
Five Fast Facts:
1.Professional leagues bring in approximately $14.3 billion dollars in the United States in earnings every year
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2. The sports associations are estimated to have created 456,000 jobs in the United States with an average salary of $39,000 per job.
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3. All of the NBA teams generated $5.9 billion while the WNBA teams make $51.5 million every year
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4. Americans spend 20 billion dollars on sports events every year
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5. Today’s global sports industry is worth between $480 and $620 billion
To view my research paper, click below.
"Broke"​ A 30 For 30 Film
I showed the 30 for 30 episode Broke. This stories the young athletes who come into millions and the financial struggles in their life.​
Above is the trailer for the 30 for 30
The event was at April 24 from 1:25-2:50 in the Solarium.
Here are my take away questions:
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- How are athletes immune and susceptible to the economy with their large sums of money?
- Can we blame athletes now for trying to get the most out of there contracts?
- How important is the relationship between the blue collar and the white collar and the teaching of financial literacy? Can it change athletes spending?
- Are colleges responsible for athletes going broke?​
SI How (and Why) Athletes Go Broke: an article that was mentioned in the episode to learn more about athletes and their money...
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An investigation into the financial outlook of young athletes
An investigation into the financial outlook of young athletes
To begin my exploration, I interviewed Brian Fierston. Aside from being my father, he is a local investment advisor at Fierston Financial Group. I asked him several questions on the topic of what he would say to a young athlete who is coming into millions.
In addition to watching "Broke," I have researched investment strategies for these athletes as well as former athletes who are now advisors, such as Antoine Walker (far left in picture)
In conclusion, I have created a letter in the place of a financial advisor to a young NFL player who is going to come into millions. As the NFL draft was in April, I feel this topic is especially timely
The Presentation Of My Work
On May 21, I presented all my work in a TED Talk-style. I focused on the economics of the individuals in the sports industry and how many athletes go broke. It was extremely rewarding to share my work and to showcase a year's worth of research. I hope that everyone who came to listen to my talk, not only learned something but now questions and appreciates the sacrifices athletes make every day.
