Should the City of Indianapolis Keep Peyton Manning?

The Indianapolis Colts organization forever changed in the 1998 NFL draft when the team selected Peyton Manning as the number 1 overall pick.  The organization, though, wouldn’t be the only party affected by Manning.  The city of Indianapolis would experience a huge boost in their economy and the overall perception of the city itself. 

As of today, the GM Jim Irsay has strongly hinted towards not resigning the Hall of Famer due to age and injuries over the past 2 years.  While this may seem like the wise decision for the team’s win percentage, what will occur to the economy that has built up since the success of the colts as an organization?

Bloomberg Sports has reported the current status of the Manning-Irsay conflict, and that nothing is set in stone with where Manning will be playing next time in September.  But what’s most interesting to look at is the effect that a football organization can have on a city in the United States.  The primary key to this organization over the past decade has been Peyton Manning.  Manning, who brought a Super Bowl championship to Indianapolis in 2008.  This influenced the NFL to host the 2012 Super Bowl in Indianapolis thanks to the mass consumer interest developed in the surrounding region.

Below is a table that can support the influence of the success that Peyton Manning has brought the Colts organization.  Because of the success, NFL officials chose Indianapolis as a location unique to many of the previous locations.  Over the past 20 years, there has been a trend to locate the Super Bowl in a desirable place to not only play football, but to vacation.  Only 2 (including 2 coming in the future) locations have been located in the Northern portion of the United States.  Why may this be?  Weather certainly has a great deal in choosing the playing field; but the real key is the fact that the NFL wants the Super Bowl to be at a location where anybody, regardless of team loyalty, would want to visit to have a great time.  Indianapolis breaks the traditional mold.  While the venue is located in a dome, the city is about to experience great revenue for the desired interest in fans who are willing to make a trip to not only the Super Bowl, but for the aesthetics of Indianapolis itself.

 

What effects does hosting a Super Bowl have on a city? College of the Holy Cross did research on the topic, and were able to find that the economic impact created by the Super Bowl has minor positive effects, if not affected.  However, there is no proof against the Super Bowl creating economic shrinkage.  In my opinion, this backs my sports marketing background, in which the NFL in itself is less successful than many think.  But the implications of bringing in approximately $500 million of revenues into the city thanks to the Super Bowl are a good short term exposure. 

I would say that the chances that the Super Bowl comes back to Indianapolis will be far in the future.  The organization is going to undergo a complete overhaul if they get rid of Manning.  My belief is to stick by their quarterback through and through, the one who brought the team to glory.  The one who brought economic value to the organization, and partial responsibility for the current state of Indianapolis.

References:

1. "List of Super Bowl Champions". Wikipedia.  http://en.wikipedia.org/wiki/List_of_Super_Bowl_champions
2. Levinson, Mason. "Peyton Manning's Neck Surgeon Clears NFL Return as Colts Say Not So Fast". Bloomberg.  http://www.bloomberg.com/news/2012-02-03/peyton-manning-s-neck-surgeon-clears-nfl-return-as-colts-say-not-so-fast.html
3. Matheson, Victor A. "Economics of the Super Bowl". College of the Holy Cross.  http://college.holycross.edu/RePEc/hcx/Matheson_SuperBowl09.pdf