The Annual Cost of the Super Bowl
- The Super Bowl is one of the world's most-watched annual sporting events.
- Each year, 32 NFL teams try to put together the best squad possible to get a ring.
- The Super Bowl brings in millions of dollars from many avenues, such as the city that hosts the event and the money the attendees spend to watch the game in person.
The Super Bowl is one of the world's most-watched annual sporting events. Each year, around 100 million people tune into the final game of the football season to see who will become the champion and raise the Lombardi trophy. Each year, 32 NFL (National Football League) teams try to create the best squad possible to get a championship ring. Though many people focus on who wins the Super Bowl each year, one overlooked aspect of the Super Bowl is the cost the city that hosts the event incurs.
History of the Super Bowl
The first-ever Super Bowl was in 1967, between the Green Bay Packers and the Kansas City Chiefs. The Super Bowl game was hosted at the Los Angeles Memorial Coliseum. After the first Super Bowl, 56 have taken place, with the latest matchup being Super Bowl LVII.
Teams Competing in This Year’s Super Bowl
This year, Super Bowl LVII will be played in the State Farm Stadium in Glendale, Arizona, on February 12, 2023. The two teams that will be fighting for bragging rights and hoping to become champions are the Kansas City Chiefs and Philadelphia Eagles. Superstar quarterback Patrick Mahomes and tight end Travis Kelce lead the Kansas City Chiefs. The Philadelphia Eagles are led by rising star quarterback Jalen Hurts and talented receiver A.J. Brown and Devonta Smith.
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In the past ten years, both teams have won a Super Bowl. The Chiefs won in 2020, and the Eagles won the chip in 2017. This year’s matchup is between two of the most promising talents in the NFL, with Mahomes trying to get his second ring and Hurts competing to win his first.
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Interesting Stats About the Super Bowl
Since the Super Bowl is the most watched game of the football season, many out-of-town fans are willing to spend more money to see their team play in the season finale. Because of the influx of cash this major football event will bring to the city, many places across the states have created their own Super Bowl committees.
According to Business Insider, some Super Bowl committees believe that the host city would receive $300 million to $500 million in consumer spending. However, economist Victor Matheson believes the game only brings in between $30 and $130 million. Typically, the city hosting the Super Bowl will create or modify its current stadium to accommodate the larger audience.
For example, the Super Bowl LVIII, which will be held at the Allegiant Stadium in Las Vegas, Nevada, in 2024, had a $40 million in funding approved by the Las Vegas Convention and Visitors Authority. Although the Super Bowl will bring in a lot of revenue for Las Vegas when the time eventually comes for Super Bowl 2024, the high expenditure could reduce the profits the town of Las Vegas will see.
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The Super Bowl Effect
Making it to the Super Bowl requires a resilient mentality, an ambitious mindset, and consistent outstanding performances. Whether the team is on the sidelines or in the gridiron, all members contribute to a common goal. As a result, the spectacular achievement of attaining an award that not many NFL players see in their careers boosts the value of everyone involved.
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The coaches become known as the modern greats and potentially help them become NFL Hall of Fame inductees. Getting championship rings is a critical factor in cementing a lasting legacy, and due to the difficulty of the situation, they are heavily valued in the Hall of Fame discussion.
Also, not only does winning the Super Bowl help increase coaches and players increase their value from a legacy perspective, but it also aids them financially. Since these players and coaches have had the experience of playing and winning the most important game of the season, they can ask for and receive more money.
For example, after the Kansas City Chiefs beat the San Francisco 49ers in the 2020 Super Bowl, the Chiefs awarded Patrick Mahomes with the largest contract in NFL history. Mahomes inked a 10-year, $450 million deal, showing that after his value rose by being named the Super Bowl MVP, he received more money from his franchise.
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The Money Wrap-Up
The Super Bowl is a match filled with intense pressure with a lot on the line. Many cities wish to host this event in the future because of the economic benefits that could follow.
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