This website uses cookies to ensure you have the best experience. Learn more

Sports & Money Essay

1176 words - 5 pages

Consider the importance of money in sports
There is a saying that money makes the world go round. This could not have been more true for the sports industry. Some of the most successful sporting franchises are backed by owners with seemingly unlimited financial resources. Their financial backing has been used to develop the sport and publicise it around the world, which results in a successful sport supported by fans worldwide. Therefore, it is easily said that money is crucial to sports, in several, if not all aspects of it.

A large amount of financial backing is needed to develop a sporting franchise and sustain its successful status. With a large financial resource, training ...view middle of the document...

This shows that world- class training facilities, a result of vast amount financial backing, is capable of producing champions. The team with the better training facilities and methods will always have an edge over the poorer rivals, whom cannot match the difference in class and standard. Therefore, money, especially lots of it, is crucial in developing a sporting franchise and keeping it successful.

Success on the playing field however, has to go hang in hang with the publicity of the sport, which again, requires money to back it up. Worldwide publicity comes like a complimentary good for a sporting franchise or major sporting event. Without publicity and worldwide recognition, there would be little success in the sport which requires a fan base. Major sporting events also require publicity, to attract people to such events and increase revenue. Such publicity is usually obtained through expensive commercials that reach out to the worldwide audience. For example, to provide the publicity for the Beijing Olympic Games 2008,a lot of money were put into a design team tasked with coming up with an Olympic symbol. The symbol, a mixed of different coloured lines portraying the five Olympic rings, made its appearance in a commercial which was viewed worldwide. Through this, people knew more about the Olympics and events related to it. Although this goes to show that publicity is important, it just serves to underline the importance of money in ensuring the success of a sport. Publicity campaigns are never cheap, especially if it involves a successful sportsperson taking part in the commercial as part of his endorsement deal, which usually requires a large amount of money to be paid to the person. Therefore, it is hard to deny the importance

of money to the publicity of a sport, as without the proper financial backing, it will lead to the absence of an effective advertising campaign.

Money is also important in attracting the best players to a certain team, In an age where the amount of money a sportsman received for his services takes precedence over his loyalty to the team, money is certainly crucial in retaining and recruiting the best talents in the respective sports. The soccer industry in Europe is a very good example where money matters. Players choose their clubs based on the amount of wages being offered, with very few players turning down more lucrative offers and remaining loyal to their...

Other Papers Like Sports & Money

Physical Education Essay

1268 words - 6 pages commonly used insults is to say that “so-and-so throws like a girl” or “so-and-so runs like a girl.” Poor male performance in sports is compared with a female’s natural performance. Economy The relationship between sports and the economy cannot be overlooked as we examine the other social institutions within society. The money spent by the consumers on tickets, concessions, club fees, membership dues, sports equipment and clothing, and

Sports Direct Plc Essay

559 words - 3 pages | | Sports Direct PLCPurpose: Sports retailerExample: Sports direct sell clothes and footwear specialised for leisure activitiesObjectives: 1. Maximum profit 2. Sales growth 3. Increasing market shares 4. Gain monopolyScale: InternationalSize: LargeSports Direct is an international public limited company founded in 1982 by Mike Ashley, it specialises in sports retail. It owns

Youth Sports

1875 words - 8 pages Good Father: Parental Expectation and Youth Sports” the author discusses the father’s role in youth sports. In society, fathers are looked upon as the head of the house, the one who makes all the money. Fathers become involved in sport because it is a way to be a part of their children’s lives, since it interests them as well. Fathers are looked at as the ones that are physically involved with the children, by teaching and showing them how to play

Potential Careers In Sports Management

4515 words - 19 pages money. The focus then turned to businessmen who could successfully run a business, with or without any experience in the sports industry. This concept is fairly new and only a small number of athletic directors fall into this category. So the key is to pay attention to the current tendencies the sports world is doing in hiring athletic directors (Cross). Other information that is vital in your quest to become an academic advisor is knowing what

Ancient Greece Sports

996 words - 4 pages women were able to go to gyms and train like men. The training of sports for women was also the same purpose of training men. Some of the prizes for winning events were fame, drachmas (money), statues or paintings of themselves. So some athletes became famous and rich just by being able to play. Impact on the civilization. One of the impact sports had on ancient Greece was warfare. Training and training for sports gave them strength, speed

Woment Participation in Sports

1168 words - 5 pages 3.2.3 Lack of money 4. Conclusion 5. Recommendations 6. References Barriers to women participation in Sports 1. Abstract It is clear that various factors have affected for declining number of female participant in sports. The sporting organizations have to consider about the situation and forward necessary steps for improvement of involvement of women in sports. The report investigates the

Risk Assessment

681 words - 3 pages faced with the need to borrow money to meet the target cash balance. On the contrary, if Lawrence Sports has a strict credit policy, sales may suffer as a result. The mitigation of this risk is for Lawrence Sports to have a conservative credit policy and consistent implementation with every customer. The second risk is the implementation of the electronic payments. Lawrence Sports can not coerce Mayo Stores, Gartner Products or Murray Leather

College Ahletes Should Not Be Paid

1193 words - 5 pages buy food. The reason why athletes don’t have any money, is because between school and sports, they don’t have time for a job. One of the biggest reasons athletes should not be paid is that colleges wouldn’t be able to afford paying them. Almost every year, less than ten percent of colleges and universities are able to make a profit by the end of their sports seasons (Miller). Most universities have multiple sports that they don’t make money on

Basics and Perspectives of Sports Marketing

3824 words - 16 pages to most of the recipients he wants to reach. Sport events are in a special state, marketing themselves as well as the participating fan articles, which generate a lot of profit for the team while marketing the team itself 9 and for merchandising and licensing. Another very important and typically sports related promotion method is sponsoring, where a sponsor pays money to be able to promote its product or label with the help of a soccer team or

Entertainment Elements Should Be Added in Chinese Sports

3207 words - 13 pages country which holds big sports event. For example, like F1, Swimming world championship. They think this is the correct way for Chinese sports industry. (Xiao. C, personal communication, June 4, 2012) Personally, I strongly agree with the statement that entertainment elements should be added in Chinese Sports industry. So what is entertainment and entertainment marketing? Entertainment is whatever people are willing to spend their money

History of Sports Betting

3055 words - 13 pages made legal. Sports betting(and gambling in general) can lead to a destructive lifestyle, is the cause of many strained relationships as well as cause a huge deficit of debt for someone, among other consequences. Americans know these ramifications and continue to part take in the action but obviously not for those reasons. Sport betting socially has its benefits as well such as winning money, fun and excitement, and even getting out of debt

Related Essays

English Paper

625 words - 3 pages opportunity having fun and making money are possible. Despite the many positive outcomes from sports, many still believe that sports activities are not effective for everyone. People believe that if they suffer from health problems, they cannot be involved in sports. Water aerobics and lighter sports activities prove to be just a beneficial as contact sports. Starting with light exercise sports help build strength and burns calories. Special Olympics

Gambling And Sports Essay

1032 words - 5 pages Should Sports Gambling Be Legalized? Gambling is a common practice throughout human history, one that appeals to the individual’s desire for gain and offers the thrill of risk or uncertainty. Sports gambling is the “wagering of money or other items of value on the outcome of a sporting event, dependent either wholly or in part on chance” (Thompson, 2008, p. 1). Sports gambling generates billions of dollars annually, with large

Project Report On Torism

2485 words - 10 pages 
host. Neighbours,
estate Property

Lut1 Task 1 Essay

1230 words - 5 pages ? A-1a. Thesis Statement Research continues to suggest that being a part of organized youth sports can have both positive and negative effects on today’s children as well as their families; character building, self-confidence, discipline and healthy lifestyle habits are all positive effects while the negative effects include injuries, performance stress, peer pressure and large time and money commitments. A-1b. Main Point Preview Involvement