Is sport really worth it?

Australian tax payers are set to pay half of a $3 million appearance fee being given to Tiger Woods in return for his participation in the Australian Masters tournament later this year. Critics have questionned the payment, asking whether is it fair to other players and to Australian tax payers (especially in the light of the current downturn), and if it will lead to sponsorship being diverted away from other sports events. Supporters have nevertheless defended the payment, claiming that Woods' presence in Australia, the first time he will be playing in the country for a decade, will massively boost economic activity resulting in a net economic benefit for Australia. The fundamental question therefore is: who is right?