Professional sports leagues have become one of the most lucrative in the world. According to the Businesswire report, the global sports market will reach $614.1 billion by 2022. It is expected that this market is likely to grow at a CAGR of 5.9%.
The four major professional sports in the United States are the MLB, NFL, NBA, and NHL. Other leagues are MSL and CFL. These sports tournaments tend to attract large numbers of fans around the world. In 2018, the average number of fans attending the matches of these six tournaments was 15,000.
In the U.S., the Major League Baseball (MLB) is the oldest professional sports tournament. MLB consists of 30 teams. Of these 30 teams, 15 are in the National League and the remaining 15 are in the American League.
The MLB season, with 162 games, is the longest of all major American sports. After the regular season, the teams with the highest rankings enter the knockout match. A total of eight teams, four from each tournament, entered the knockout rounds. In the end, winners from AL and NL played in the World Series. As such, the champion of the season has been determined.
After the NFL, MLB is the richest professional sports league by revenue. In 2019, MLB revenue reached about $10.7 billion.
The National Football League (NFL), founded in 1920, is America’s most popular professional sports league. It includes 32 franchises, split between NFC and AFC, competing each year to win the world’s largest annual sporting event, the Super Bowl.
There is another subdivision of 16 teams for each convention in the four four-team divisions: North, South, East, and West. Each division winner will enter the knockout round, and there are also two undivided winners’ entries. Playoffs consist of four rounds. The Super Bowl is the final round where two congress champions compete against each other to determine the league champions.
By revenue, the NFL is the richest professional sports league in the world. In 2018, the NFL was the most profitable sports tournament, with $16 billion in revenue.