After WW2 the dominant professional sports in the US (baseball) and England (soccer) faced a common shock - the rapid penetration of TV ownership. Both experienced significant declines in attendance and profitability. By 1960, approximately 300 minor league baseball teams (75%) had folded and the residual teams came under the control of the 16 major league clubs. In England, however, none of the 92 professional clubs folded despite facing comparable economic pressures. These differences are attributed to institutional structures - notably the integrated governance of soccer, compared to the fragmentation of baseball, and the promotion and relegation system of soccer. The latter offered a mechanism for clubs to control costs and the possibility of a better future.