It is indeed a 2 side cutting knife.
Let's assume that we agree that nobody is worth that kind of salary in sports.
But athletes are and should be seen as entertainers. Without a doubt they bring joy in the lives of the fans. They should be role models and some of them are.
A salary cap could maybe solve the exuberant salaries. But than there would be a bigger gap between the best and the average. For each big fish in the team, one also needs a smaller one.
Which I do find more intriguing than the salaries are the transfer fee. Like Neymar is really worth this money. Don't think so!
And yes you are right, athletes did earn less 20 years ago and were also happy! But I do think that much more jobs are related to sports now, then 20 years ago!
Everybody and everything is worth what a fool wants to pay for it. And in this case it is a lot. Also don't forget the impact of player agents! They take, in some cases, more than 20% of the salaries. They also created the steep increase in wages. What else should these clubs do with the money they are getting from the TV contracts?
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It's definitely a very controversial topic, but it basically boils down to one of your sentences:
"Everybody and everything is worth what a fool wants to pay for it. "
Which is exactly what I meant, we should stop being such fools and serve them as much money, the less we pay, the less the TV contracts pay and the less the players get.
And gaps can still be percentages.
And
"But athletes are and should be seen as entertainers. Without a doubt they bring joy in the lives of the fans. They should be role models and some of them are."
Some of them are, but 90% are not.
And even worse, they even try to find ways to negate taxes even though they earn as much.
And we, even pay taxes for parts of the infrastructures their using.