Wealth in sports does diminish the spirit of sports.Wealth in sports does tend to take the sportsmanship out of sports.Many players that may not play at the professional level can learn lessons from sports such as mutual cooperation and the value of hard work and this tends to be sacrificed by the money aspect.
Yes, I believe that sports wealth begins to overshadow the "love of the game". At a certain point, players begin to seek out the most money for their talents, and teams with money to spend usually have the top performing players. For example, the New York Yankees are able to consistently purchase top talent from around the league, and players are willing to trade in team loyalty for a larger contract. This takes away from the spirit of the sport by reducing the ability for smaller ball clubs to purchase and keep talent.