A 28-year pennant drought ended Wednesday night (Oct. 29, 2008), as the Philadelphia Phillies won baseball’s World Series at home in Citizens Bank Park against the Tampa Bay Rays. The final score in Game 5, suspended Monday by rain and completed in nearly freezing temperatures, was 4-3.
It was only the sixth time in their more than 120-year-history that the Phillies had played for the world championship, and just the second time they won. The win will live long in fans’ memories, and the Phillies’ post-season victories may have a long-lasting effect on the greater Philadelphia area economy too.
New research by two University of Delaware economics professors shows that, for each post-season win, the Phillies earned approximately $2.5 million in revenue this year and can expect another $3.3 million in revenue during 2009. Each extra win, according to professors Charles Link and Dan Brown, reaped more than $450,000 per million people in Philadelphia’s population from tourism, dining, hotel, ticket and merchandise sales, and likely will add about $550,000 per million people for similar sales next year.
Their findings appear in this month’s issue of the Journal of Sports Economics.
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