Financing the Sport Enterprise

Book excerpt: Sport is big business! As the world of sport continues to grow, there is a great need for the sport manager to have a working knowledge of business practices and financial management. The sport manager must assume a proactive role in dealing with the financial aspects of their organisations. The challenges of financing small and large sport organisations are daunting in the uncertain economy sport managers face today. An entrepreneurial approach is absolutely necessary to be a successful sport manager. The development and financing of new programs, facilities, and revenue streams is essential for the organisation to be successful. Customers, clients and spectators demand quality service at sport venues. The task of all sport managers is to provide an enjoyable sport experience for everyone. The book started out as a team project to develop a standard format for information to be covered in an undergraduate sport finance course that would meet all the standards established by the National Association for Sport and Physical Education (NASPE), North American Society for Sport Management (NASSM), and the Council on Sport Management Accreditation (COSMA). After a number of years in developing the course materials, it was obvious that the team should convert the basic work into a sport finance textbook. This book is now in its second edition. This edition has 26 chapters divided into six parts.