Sports economics is a relatively new field of research that is experiencing rapid growth in the economics literature. The importance of the sports industry to economies coupled with the availability of financial and productivity data have made the study of sports economics a useful avenue for exploring research questions that have eluded mainstream economics fields. The main goal of this Special Issue of the International Journal of Financial Studies is to encourage theoretical and applied research in sports economics, which is of interest to both academics and practitioners. For this purpose, this Special Issue on “Sports Finance” invites papers on topics, such as, but not limited to, salary determination, ticket pricing, revenue sharing, salary caps, competitive balance, new stadium financing, rival league behavior, determinants of revenue, television and media, tournament prize structures, financial distress in professional sports, financial fair play, financial control of sports clubs, Third Party Ownership, financial efficiency in professional sports, budget constrains and sport performance, financial information of sports, ownership of professional sport clubs and Crowdfunding in sports. Papers on both professional and amateur sports are welcome.
As the sport business continues to evolve, so too, does Sport Finance and Management. The first version of this book took an in-depth look at changes in the sport industry, including interconnecting financial issues between teams and their associated businesses, the nature of fan loyalty influences, and the impact of sponsorship on team revenues. This second edition updates each of these elements, introduces relevant case study examples in new chapters, and examines the impact of changes in facility design, media opportunities, and league and conference policies on the economic success of teams, the salaries earned by professional players, and the finances of collegiate athletics.
Financial Management in the Sport Industry provides readers with an understanding of sport finance and the importance of sound financial management in the sport industry. It begins by covering finance basics and the tools and techniques of financial quantification, using current industry examples to apply the principles of financial management to sport. It then goes beyond the basics to show how financial management works specifically in sport - how decisions are made to ensure wealth maximization. Discussions include debt and equity financing, capital budgeting, facility financing, economic impact, risk and return, time value of money, and more. The final section focuses on sport finance in three sectors of the industry - public sector sports, collegiate athletics, and professional sport-providing in-depth analysis of financial management in each sector. Sidebars, case studies, concept checks, and practice problems throughout provide practical applications of the material and enable thorough study and practice. The business of sport has changed dynamically since the publication of the first edition, and this second edition reflects the impact of these changes on financial management in the sport industry. New to this edition are changes to reflect the global nature of sport (with, for example, discussions of income tax rates in the Premiere League), expanded material on the use of spreadsheets for financial calculations, a primer on accounting principles to help students interpret financial statements, a valuation case study assignment that takes students step by step through a valuation, a new stadium feasibility analysis using the efforts of the Oakland Raiders to obtain a new stadium, a new economic impact example focusing on the NBA All Star game, and much more.
The burgeoning global sport industry is a $500 billion business with no signs of slowing down. For the upper-undergraduate and graduate sport management student exhibiting a penchant for finances and a passion for sports, the field of sport finance presents tremendous career opportunities. No other textbook connects financial principles with real-world sport finance strategies as effectively as Sport Finance, Fifth Edition With HKPropel Access. Emphasizing a more practical approach, the fifth edition goes beyond the what and how of sport finance and dives deeper into the why—the reasoning behind the principles of sport finance—providing students with an even more comprehensive perspective on what drives the financial success or failure of any sport entity. The text is organized into five areas, focused on the hard skills tomorrow’s sport financiers must master to perform their role: increasing revenues and decreasing expenses, developing budgets, understanding financial statements and ratios, obtaining funding and managing cash, and building a financial strategy. Each section features an insightful introduction by a renowned industry professional, providing a real-world perspective that’s sure to pique readers’ interest. Chapters addressing revenues and expenses include budgets from the sporting goods industry, intercollegiate athletics, and professional sports. The sport industry landscape has changed significantly since the previous edition was published, and the fifth edition reflects the new realities affecting today’s sport organizations. Addressed are name, image, and likeness (NIL) rule changes; esports; cryptocurrencies; non-fungible tokens (NFTs); sport gambling; the proliferation of broadcasting rights and the sneaker market; and the impacts of COVID-19 on the sport industry. The fifth edition’s practical takeaways are especially prominent with the addition of related online resources available to students and assignable by instructors via HKPropel. One highlight is “Two-Dollar Team,” an Excel-based simulation that introduces students to assets and liabilities, revenue and expenses, budgeting, cash management, and borrowing and reveals how these specialties work together in developing financial strategies. Three other assignable class projects involve personal budgeting, expenditures, and a stock market game. Other new features include five brand-new case studies and a profile of a typical health club, “Mike’s Gym,” in which students are challenged to put their learning to the test by reading and understanding financial statements, setting budgets, and identifying strengths, weaknesses, and growth opportunities for the fictional facility. Sport Finance provides students with a thorough understanding of the financial and economic aspects of the sport industry. By analyzing sport business entities and structures, financial statements, and funding sources, students will acquire the skills to make more informed and effective financial decisions, better manage the risks, and recognize opportunities in the world of sport. Note: A code for accessing HKPropel is not included with this ebook but may be purchased separately.
The classic groundbreaking text for understanding organizational theory in the sport industry is back in an extensively revised new edition. With an added emphasis on organizational behavior and practical applications of the theory, Understanding Sport Organizations: Applications for Sport Managers, Third Edition, provides a logical progression to understanding the many components of and processes in sport organizations. Readers will gain a strong theoretical foundation while learning how it applies within the context of the ever-changing field of sport management. In this third edition, new chapters incorporate critical concepts that sport managers in the current era must be familiar with: Different policy types and the responses of sport organizations to policy Perspectives of marketing of sport and marketing through sport Control in sport organizations Sex and gender in sport organizations Volunteer management in sport Dimensions and assessment of governance in sport organizations Mental health difficulties and management strategies within sport environments Applying statistical analysis to support analytic decision making in sport Corporate social responsibility Procurement and sport organizations To facilitate comprehension and application, each chapter opens with a list of key concepts and a real-world, contemporary scenario to demonstrate the relevance of theory and behavior in the sport industry. Time Out sidebars offer accounts from actual sport organization situations or from research findings to further illustrate issues being discussed. Chapter summaries and review questions are provided to stimulate discussion about the central issues from each chapter. Key Issues for Sport Managers boxes highlight how chapter content is applied at the level of sport manager, and closing Case for Analysis examples allow readers to directly apply information from each chapter. Real-world examples throughout the text provide opportunities for additional exploration and application of relevant concepts. Every chapter references key articles that build on the foundational framework presented and includes suggestions for further reading within general management and sport management literature. This thorough presentation of subject matter will guide readers to a greater and more practical understanding of core issues. Synthesizing modern conceptual and empirical research from many fields of management into a practical, engaging look at the sport management field, Understanding Sport Organizations: Applications for Sport Managers, Third Edition, is an invaluable resource for students and current practitioners alike.
Now in a fully revised and updated third edition, this essential textbook introduces the fundamentals of sport finance and sound financial management in the sport industry. It is still the only textbook to explain every aspect of finance from the perspective of the sport management practitioner, explaining key concepts and showing how to apply them in practice in the context of sport. The text begins by covering finance basics and the tools and techniques of financial quantification, using industry examples to apply the principles of financial management to sport. It then goes further, to show how financial management works specifically in the sport industry. Discussions include interpreting financial statements, debt and equity financing, capital budgeting, facility financing, economic impact, risk and return, time value of money, and more. The final part of the book examines financial management in four sectors of the industry: public sector sport, collegiate athletics, professional sport, and international sport. It provides an in-depth analysis of the mechanics of financial management within each of these sport sectors. Useful features, such as sidebars, concept checks, practice problems, case analysis and case questions will help students engage more deeply with financial techniques and encourage problem-solving skills. This new edition includes a completely new chapter on international sport, reflecting the globalized nature of the modern sport industry, as well expanded coverage of current issues such as digital media finance, recent legal cases affecting collegiate sport, and the central importance of collective bargaining. Financial Management in the Sport Industry is an essential textbook for any undergraduate or postgraduate course in sport finance, and an invaluable supplement to any course in sport business or sport management. It is also an important reference for all sport management practitioners looking to improve their understanding of finance. The book is accompanied by updated and expanded ancillary materials, including an instructor’s manual, PowerPoint slides, and an image bank.
International Sport Management is the first comprehensive textbook devoted to the organization, governance, business activities, and cross-cultural context of modern sport on an international level. As the sport industry continues its global expansion, this textbook serves as an invaluable guide for readers as they build careers that require an international understanding of the relationships, influences, and responsibilities in sport management. Through a systematic presentation of topics and issues in international sport, this textbook offers a long-overdue guide for students in this burgeoning subfield in sport management. Editors Li, MacIntosh, and Bravo have assembled contributors from all corners of the globe to present a truly international perspective on the topic. With attention to diversity and multiple viewpoints, each chapter is authored by distinguished academics and practitioners in the field. A foreword by esteemed sport management scholar Dr. Earle Zeigler emphasizes the importance of a dedicated study of the issues in international sport management. All chapters in the text use a global perspective to better showcase how international sport operates in various geopolitical environments and cultures. The text is arranged in five parts, each serving a unique purpose: •To outline the issues associated with international sport management •To examine sport using a unique perspective that emphasizes its status as a global industry •To introduce the structure of governance in international sport •To examine the management essentials in international sport •To apply these strategies in the business segments of sport marketing, sport media and information technology, sport facilities and design, sport event management, and sport tourism Written to engage students, International Sport Management contains an array of learning aids to assist with comprehension of the material. It includes case studies and sidebars that apply the concepts to real-world situations and demonstrate the varied issues, challenges, and opportunities affecting sport management worldwide. Chapter objectives, key terms, learning activities, summaries, and discussion questions guide learning in this wide-ranging subject area. In addition, extensive reference sections support the work of practitioners in the field. With International Sport Management, both practicing and future sport managers can develop an increased understanding of the range of intercultural competencies necessary for success in the field. Using a framework of strategic and total-quality management, the text allows readers to examine global issues from an ethical perspective and uncover solutions to complex challenges that sport managers face. With this approach, readers will learn how to combine business practices with knowledge in international sport to lead their current and future careers. International Sport Management offers readers a multifaceted view of the issues, challenges, and opportunities in international sport management as well as the major functional areas that govern international sport. The text provides students, academics, and practitioners with critical insights into the practice of business as it applies to international sport.
This book explores the 2018 Men's Football World Cup in Russia through a comparison of the host cities of Ekaterinburg and Volgograd - two major but peripheral cities little discussed outside of Russia. It unpacks the World Cup at multiple scales of analysis, from global political economic processes, Russian national state spatial strategies, uneven municipal developments, the creation and distribution of soft power narratives to the domestic audience, and varieties of adoption or refusal of those narratives among host city residents. In so doing, the book offers a light and revisable framework for understanding mega-events regardless of national context.
