Sport Finance 4th Edition With Web Resource

Sport Finance, Fourth Edition With Web Resource, grounds students in the real world of financial management in sport, showing them how to apply financial concepts and appreciate the importance of finance in establishing sound sport management practices. Utilizing a modern and practical approach, the text encourages students to take a strategic organizational perspective in learning financial skills while gaining a deeper understanding of the reasoning behind the principles of sport finance.

The fourth edition of Sport Finance has been revised and restructured to reflect the evolving needs of students entering the dynamic sport industry. Content updates and additions include the following:

• A new chapter dedicated to assets (such as players, facilities, and goodwill) and liabilities (such as player salaries and long-term debt) and how they affect a sport organization
• Expanded coverage of strategies to increase revenue and reduce expenses for greater profitability, enhanced with an example from a real-world athletic department
• New chapters about reviewing financial statements, planning, and building a financial strategy to help guide decisions to create, expand, or exit a sport business or organization
• Five new case studies covering a variety of sectors, sports, and countries to give students the opportunity to apply the concepts to practical scenarios

To further relate the content to real situations for students, study questions about each of the case studies have been incorporated into a new student web resource. The web resource also includes an interactive simulation called “The Two Dollar Team” that directly engages students with the book’s topics, including assets and liabilities, revenue and expenses, budgeting, cash management, and borrowing. Instructors will also find additional activities and a case study in the companion instructor guide, and they will receive a test package and presentation package.

Sport Finance, Fourth Edition, will enable students to grasp fundamental concepts in sport finance. By analyzing business structures, financial statements, and funding options, students will not only learn basic finance but will also understand how those skills are used to build a strategy and make sound financial decisions in the world of sport.

Audience

A text for students taking upper-undergraduate and graduate sport finance and related courses; a reference for sport business professionals.

Preface
Acknowledgments

Industry Spotlight: Will Cashman

Part I. Basics of Sport Finance

Industry Spotlight: Hugo C. Chávez Barroso

Chapter 1. Introduction to Sport Finance
Personal Finance Basics
What Is Sport Finance?
Current Financial Problems Facing Sporting Goods and Other Retailers
Financial Solutions
How Sport Finance Affects an Entire Sport Organization or Industry
Conclusion

Chapter 2. Sport Industry Financial Trends
Trends in Amateur and Participatory Sport
Trends in College Sports
Trends in Professional Sports
Conclusion

Chapter 3. Basic Financial Concepts
Revenues and Expenses
Types of Financial Statements
Financial Ratios
Time Value of Money
Economic Versus Financial Analysis
Conclusion

Chapter 4. Assets and Liabilities
Where to Find Assets
Identifying Liabilities Throughout a Sports Organization
Conclusion

Part I Case Study: Financing Soccer Around the World

Part II. Revenue and Expenses

Industry Spotlight: Nathan Grube

Chapter 5. Understanding Revenue
Revenues in the Sport Industry
Revenues in Professional Sport
Revenues in Intercollegiate Athletics
Revenues in the Sporting Goods Industry
Revenue Planning
Conclusion

Chapter 6. Understanding Expenses
Expenses in the Sport Industry
Expenses in Professional Sport
Expenses in Intercollegiate Athletics
Expenses for a Sporting Goods Manufacturer
Other Expenses for Sport Organizations
Conclusion

Part II Case Study: Minor League Baseball Revenue and Expenses

Part III. Developing a Budget

Industry Spotlight: Josh Vanada

Chapter 7. Budgeting: A Road Map for Sports Organizations
Importance of Financial Planning
Determining Financial Objectives
The Anatomy of a Budget
Budget Types
Pro Forma Budgets and Business Plans
Incorporating the Pro Forma Budget Into the Business Plan
Conclusion

Chapter 8. The Budgeting Process
Creating a Budget
Applying the Data
Building the Budget From the Ground Up
Variance Analysis
Conclusion

Part III Case Study: Minor League Baseball Operational Budget

Part IV. Cash Management

Industry Spotlight: Ken Wajda

Chapter 9. Methods for Funding a Business
Where the Money Comes From
Open Markets and Other Short-Term Borrowing
Long-Term Borrowing
Funding for Small or Minority-Owned Businesses
Conclusion

Chapter 10. Stocks and Bonds
Stocks
Shareholders’ Rights
Sport Stocks
Bonds
Costs of Issuing Bonds
Loan Repayment
Government-Issued Bonds
Conclusion

Part IV Case Study: Financing a College Football Stadium

Part V. Financial Statements and Strategic Planning

Industry Spotlight: Ralph Willis

Chapter 11. Financial Statements
Types of Financial Statements
Financial Statement Analysis
Annual Reports
Conclusion

Chapter 12. Financial Planning
Financial Forecasting
Financial Planning Strategies
Cash Management Strategies
Capital Spending
Cost of Capital
Projecting Cash Flow
Break-Even Analysis
Managerial Account
Conclusion

Chapter 13. Financial Ratios
Liquidity Ratios
Activity Ratios
Financial Leverage Ratios
Profitability Ratios
Determining the Company’s Value
Techniques to Determine the Value of an Investment
Conclusion

Chapter 14. Moving From Strategy to Action
Creation Strategy
Finding Funds and Investors
Keeping an Even Keel
Growth and Expansion
Contraction
Selling a Business
Conclusion

Part V Case Study: Tracking Industry Changes

Appendix A: Under Armour Financial Statements
Appendix B: Time Value of Money
Appendix C: Formulas

Glossary
References
Suggested Resources
Index
About the Authors

Gil Fried, JD, is a professor and the chair of the sport management department in the College of Business at the University of New Haven. He worked as a financial analyst with Paul Kagan Associates and analyzed numerous broadcasting contracts. He has written a significant number of books and articles, taught graduate and undergraduate courses in sport finance, and lectured on finance topics to various audiences. In addition to teaching and writing, Fried serves as an expert witness in litigation related to personal injury or financial injury in the sports and entertainment industry.

Fried enjoys playing badminton and collecting stamps—particularly revenue and sport stamps to utilize in his teaching.

Tim DeSchriver, EdD, is an associate professor in the department of hospitality business management at the University of Delaware. DeSchriver has worked as a field economist for the U.S. Department of Labor and has taught undergraduate and graduate courses in sport finance and sport economics since 1998. He has authored and contributed to several books and sport finance–related publications in refereed journals.

In his spare time, DeSchriver enjoys road cycling, mountain biking, and hiking.

Michael Mondello, PhD, is a professor in the department of marketing and the associate director of the Vinik Sport and Entertainment Management program at the University of South Florida. He teaches finance and analytics, with research interests in financial and analytical issues related to sport organizations, including competitive balance, economic impact analysis, contingent valuation, ticket pricing, and stadium financing.

Mondello’s work has been published in International Journal of Sport Finance, Economic Development Quarterly, Sport Marketing Quarterly, International Journal of Sport Management, Journal of Sports Economics, Journal of Sport Management, and Management Decision. He has also written a Harvard Business School case examining strategic philanthropy and the Tampa Bay Lightning. Mondello was recognized as a research fellow of the North American Society for Sport Management (NASSM) in 2007.

 

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All ancillaries are free to adopting instructors and available online.

Instructor guide. Includes chapter outlines, chapter summaries, assignments, answers to the class discussion topics in the book, class projects, suggested essay topics, tips for presenting the chapter content, Excel-based activities, a major case study on the golf industry, and case study questions that may be assigned to assess student understanding and progress.

Test package. Contains a bank of 414 questions in true-or-false, short-answer, and multiple-choice formats.

Presentation package. Includes more than 300 PowerPoint slides of text, artwork, and tables from the book that can be used for class discussion and presentation. The slides in the presentation package can be used directly within PowerPoint or printed to make transparencies or handouts for distribution to students. Instructors can easily add, modify, and rearrange the order of the slides.

Web resource. Features a simulation called “The Two Dollar Team” that gives students hands-on experience with various financial topics such as assets and liabilities, revenue and expenses, budgeting, cash management, and borrowing. The web resource also includes study questions associated with each of the five case studies from the book.