Southern California sports teams are hit by sharp drop in revenue

The L.A. Times reports:

Despite an NBA championship and other major sporting events last year, professional and amateur sports organizations in Southern California have been stung by the recession.

With drops in attendance, ticket prices and part-time employment, sporting events drew 18% less revenue in 2009 compared with 2007, according to a study released Monday by the Los Angeles Sports Council and the Los Angeles Area Chamber of Commerce.

In all, 55 sports organizations — including the Los Angeles Lakers, Hollywood Park, the Anaheim Ducks and the athletic departments for several local colleges and universities — generated $4.2 billion in revenue last year, down from $5.1 billion in 2007.