Full Description
This book takes an in-depth look at the economics and finance of professional team sports, with a strong focus on applied analysis and performance measurement, to enable students, researchers, and practitioners to develop their professional knowledge of contemporary sport business.
It examines the key themes that define professional team sports today, including the unique features of the team sport market place, the operation of leagues, competitive balance, salary caps, draft systems, income from broadcasting rights, the role of agents, and governance and financial regulation. It analyses the functional aspects of sport finance including where the money flows in and out, how to measure performance holistically, and how to interpret the financial performance of professional sport teams. It also covers emerging and disruptive forces that may shape the market in the future. It includes real- world cases and data in every chapter, including sports from football to Formula 1 and the NFL to the NBA, covering both established and emerging markets around the world. No other book offers such an up-to-date and practical guide to the most important sector of international sport business.
This book is essential reading for courses in sport finance and economics, sport business, sport media and marketing, international business, or the economics of service and entertainment industries, and invaluable reading for any sport business professional looking to improve their professional skills.
Daniel Plumley is Principal Lecturer in Sport Finance in the Department of Finance, Accounting and Business Systems in the Sheffield Business School at Sheffield Hallam University, UK. His research interests include performance measurement in professional team sports, the economics and finance of professional team sports, and competitive balance in professional team sports.
Rob Wilson is Head of Department in Sheffield Business School's Department of Finance, Accounting and Business Systems, and member of the Social and Economic Research Institute at Sheffield Hallam University, UK specialising in the finance and economics of the sport business industry.
Contents
Part I: Sport Economics, Theories and Concepts, 1. The Market Structure for Professional Team Sport, 2. League Structure, Uncertainty of Outcome and Competitive Balance, 3. Models of Professional Team Sport, 4. Profit and Utility Maximisation in Professional Team Sports, Part II: Functions of Economics and Finance in Professional Team Sports, 5. Revenue Generation and Cost Structure in Professional Team Sports, 6. Cost Structures in Professional Team Sports, 7. Holistic Performance Measurement in Professional Team Sport, 8. Financial Statements and Annual Reports in Professional Team Sports, 9. Interpreting Annual Reports in Professional Team Sports, 10. Ownership Structure, Governance, and Regulation in Professional Team Sport, 11. Managers and Agents in Professional Team Sports, Part III: Emerging Trends and Disruptive Forces, 12. Breakaway Leagues in Professional Team Sports, 13. Over the Top (OTT) Broadcasting Platforms and Commercial Shifts in Professional Team Sports, 14. Financing and the Rise in Private Equity in Professional Team Sports, 15. Governance, Ownership, and Regulation Reform in Professional Team Sports, 16. Esports in Professional Team Sport, 17. Cryptocurrency, Socios, NFTs and the Metaverse in Professional Team Sports
