Part 1 - Introduction

Part 1 - Introduction - TheBusinessofSports...

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The Business of Sports Part 1 - Introduction Goal: create revenues and profits Winning is ultimately the key to succeeding But winning at all costs is frowned upon, even prohibited Fairness and integrity are critical Teams compete, but they also must cooperate The Yankees and the Red Sox Professional sports began in 1869 – Cincinnati Red  Stockings Key Date was December 23, 1975 – advent of free  agency; need to find revenue sources
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The Business of Sports Sports are a significant part of the American  culture Sports have inordinate visibility compared to  other industries  Pro sports represent a small part of the business  economy Wal-Mart revenues over $400 billion in fiscal 2009 NFL revenues about $7 billion; MLB revenues about  $6.5 billion; NBA $3.6 billion, NHL 2.5 billion…total a  bit under $20 billion Average NFL team accounts for about 0.2% of the  business income of a local market
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Who is Involved in the Business of  Sports? A vast and complex network of organizations and  individuals, including: Leagues and associations who hold contests and  events Teams and competitors who compete Agencies who specialize in various functional areas Player representation, endorsements, corporate marketing,  broadcasting and coaching contracts, special events,  corporate hospitality and licensing programs.  Companies who market sports apparel and equipment Includes companies who are licensed to market “official” items
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Who is Involved in the Business of  Sports? Media companies that carry sports programming and  advertising  Sports facilities and venues Companies that operate and manage sports facilities  and venues Concessions companies that sell food, beverages and  merchandise at sports venues  Companies who use sports as a vehicle for marketing  and sales Companies that sponsor teams, leagues and events Companies that use sports figures as celebrity  endorsements
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Who is Involved in the Business of  Sports? Ticket brokers and agencies
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This note was uploaded on 02/27/2010 for the course FIN 311 taught by Professor Haan during the Spring '10 term at St. Josephs NY.

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Part 1 - Introduction - TheBusinessofSports...

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