Sports fans don't just follow the fortunes of their favourite teams, they add to them, too.
Professional sports teams in Canada generate roughly $1.5 billion in revenue per year, according to a new report from the Conference Board of Canada. While that pales in comparison to the $170 billion or so generated by the manufacturing industry (Canada's biggest business sector), it's still proof that sports is more than just fun and games, according to Conference Board chief economist Glen Hodgson.
“This is a very big industry,” said Hodgson, who co-authored the report with Mario Lefebvre, director of the Conference Board's Centre for Municipal Studies. Roughly half of the $1.5 billion is generated by the six NHL teams based in Canada, including the Toronto Maple Leafs.
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