Great Depression And Sports Research Paper

Emmett Terry Stacy Barton US History 15 Apr, 2024 Sports During the Great Depression The Great Depression was a catastrophic event in United States history, the worst Depression in American History. It lasted around ten years, starting in 1929 and ending in 1939. The Great Depression caused the nation's economy to collapse and greatly impacted American society ("Great Depression: Years"). Many factors led to the Great Depression, including bank failures. The stock market crash seriously affected banks, causing more than 3,000 to collapse in the year following the infamous crash (Kelly).The leading factor in the Great Depression was the stock market crash in October 1929. Between 1920 and 1930, the American economy was rapidly growing, and large amounts of money were …show more content…
The sports industry was in a rough patch, although during this time, they provided light for the people able to afford it. During the Great Depression, sports leagues felt economic effects as salaries were cut, attendance rates dropped, and teams had to find new ways to survive. While sports were facing devastating effects, they were providing light for the people facing daily struggles. The Great Depression inevitably caused problems in the world of sports, one being financial issues. One of the places these financial issues were seen was in horse racing. Horse racing's revenue significantly dropped during the Great Depression. Within four years of the depression, the stakes and purses lost almost five million dollars in value. These values did not return to the same amount they were in 1930 until 1937 (Riess, “Sports”). Instances like these were some of the most harmful examples of the effects of the Great Depression. They caused leagues to lose lots of money, creating new struggles for the teams. Another example of a league facing financial instability is the