Phoenix is an overextended sports market?

BY ARIZONASPORTS.COM

Aug 15, 2011, 9:10 PM Updated: 10:10 pm

Phoenix ranked number eight out of the 20 most overextended sports markets last year, a study said.

According to Phoenix Business Journal, Phoenix has an insufficient income base to support four major-league teams.

The Phoenix area would need total personal income (TPI) of $193.8 billion to provide an adequate base for its five existing teams, according to the study. (TPI is the sum of all money earned by all residents in a given year.) But Phoenix’s actual TPI is $152.8 billion, yielding an income deficit of $41 billion.

While the shortfall does not mean that a team will move or fold, it does mean that Phoenix-area teams can expect a fluctuation in both revenue and attendance numbers.

Phoenix may have a lower TPI, but other sports cities like Cleveland and Pittsburgh have a TPI deficit in excess of $50 billion.