Financial Management in the Sport Industry

By: Matthew T. Brown and Daniel A. Rascher and Mark S. Nagel and Chad D. Mcevoy

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Synopsis: This book 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 relevant sport examples. It then goes beyond the basics to show how financial management works in the industry--how decisions are made to ensure wealth maximization. Discussions include time value of money, capital budgeting, facility financing, economic impact, and risk and return. The final part of the book focuses on three sport industry sectors--parks and recreation, collegiate athletics, and professional sport--providing in-depth analysis of financial management within each sector. Throughout, sidebars, case studies, concept checks, and financial problems enable thorough study and practice. Readers learn to apply, and see how sport managers apply, sport financial management principles in real-life situations. Altogether, it offers a good balance of first presenting background information on financial management and then spending the majority of its pages focusing on these concepts in a sport-specific context.