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This book updates the public policy dialogue on major league sports facilities and the property tax in the US. By providing a rigorous treatment of the property tax within the context of major league sports facilities, this volume debunks the widely asserted claim that most major league teams do not pay property taxes. The chapters methodically lay out the property tax status of every activity major league facility, the actual worth of that property tax expenditure, and the impact of property tax exemptions on local public services. Using empirical data, the volume provides a foundation for informed policy making regarding major league sports facilities. As such, this book will be a useful tool for researchers and students in sports economics, sports management, public policy, and public finance, as well as practitioners involved in the policy process. Economists have extensively studied the billions of dollars that state and local governments have devoted to funding professional sports stadiums. However, the implicit subsidies that stadiums typically receive through property tax exemptions has received scant attention. In Major League Sports and the Property Tax, Geoffrey Propheter thoroughly examines the common practice of removing sports venues from local tax rolls, which results in millions of dollars in forgone tax revenue that is often not reported in the public accounting of costs. Propheter provides a detailed examination of how property taxes are administered and the implications that derive from stadium property tax exemptions and abatements. His comprehensive analysis presents stylized facts and specific examples that provide the most thorough treatment on the subject to date. The breadth of analysis and meticulous coverage of relevant issues demonstrates why Propheter has emerged as a leading expert on the economics of stadiums. This is perhaps the most important book on the public financing of stadiums written in the past decade, and anyone interested in stadium economics will want their own copy to read and reference. JC Bradbury, Professor of Economics, Kennesaw State University
This volume takes readers inside the high-stakes game of public-private partnerships for major league sports facilities, explaining why some cities made better deals than others, assessing the best practices and common pitfalls in deal structuring and facility leases, as well as highlighting important differences across markets, leagues, facility types, public actors, subsidy delivery mechanisms, and urban development aspirations. It concludes with speculations about the next round of facility replacement amidst rapid changes in broadcast technology, shrinking domestic audiences, and the globalization of sport.
This four-volume set introduces, on the management side, principles and procedures of economics, budgeting and finance; leadership; governance; communication; business law and ethics; and human resources practices; all in the sports context. On the marketing side this reference resource explores two broad streams: marketing of sport and of sport-related products (promoting a particular team or selling team- and sport-related merchandise, for example), and using sports as a platform for marketing non-sports products, such as celebrity endorsements of a particular brand of watch or the corporate sponsorship of a tennis tournament. Together, these four volumes offer a comprehensive and authoritative overview of the state of sports management and marketing today, providing an invaluable print or online resource for student researchers.
"Updated and expanded, Principles and Practice of Sport Management, Third Edition offers a comprehensive introduction to the sport management industry. From the basic knowledge and skill sets of a sport manager to the current trends and issues of the sport management industry, this text provides the foundation for students as they study and prepare for a variety of sport management careers. Many well-known sport industry professionals contribute chapters that show students how to apply their new knowledge and skills. These experts provide firsthand advice on sport industry segments ranging from high school to the international arena. Students gain a solid understanding of sport management structures and learn to apply principles such as sport ethics to the many segments and support systems of the industry."--Book Jacket.
From the basic knowledge and skill sets of a sport manager to the current trends and issues in the sport management industry, this best-selling text provides the foundation for students as they study and prepare for a variety of sport management careers. The authors, all well-known sport industry professionals, show students how to apply their new knowledge and skills to any segment in the sport industry from high school to the international arena. The Fourth Edition continues to offer historical perspectives as well as thoughts about current and future industry issues and trends. It has, however, undergone substantial content updates in every chapter, including the inclusion of new developments or managerial approaches happening in the sport world, as well as the addition of new chapters on new media in sport and club management.
As the sport business continues to evolve, so too, does Sport Finance and Management. The first version of this book took an in-depth look at changes in the sport industry, including interconnecting financial issues between teams and their associated businesses, the nature of fan loyalty influences, and the impact of sponsorship on team revenues. This second edition updates each of these elements, introduces relevant case study examples in new chapters, and examines the impact of changes in facility design, media opportunities, and league and conference policies on the economic success of teams, the salaries earned by professional players, and the finances of collegiate athletics.
Now in a fully revised and updated third edition, this essential textbook introduces the fundamentals of sport finance and sound financial management in the sport industry. It is still the only textbook to explain every aspect of finance from the perspective of the sport management practitioner, explaining key concepts and showing how to apply them in practice in the context of sport. The text begins by covering finance basics and the tools and techniques of financial quantification, using industry examples to apply the principles of financial management to sport. It then goes further, to show how financial management works specifically in the sport industry. Discussions include interpreting financial statements, debt and equity financing, capital budgeting, facility financing, economic impact, risk and return, time value of money, and more. The final part of the book examines financial management in four sectors of the industry: public sector sport, collegiate athletics, professional sport, and international sport. It provides an in-depth analysis of the mechanics of financial management within each of these sport sectors. Useful features, such as sidebars, concept checks, practice problems, case analysis and case questions will help students engage more deeply with financial techniques and encourage problem-solving skills. This new edition includes a completely new chapter on international sport, reflecting the globalized nature of the modern sport industry, as well expanded coverage of current issues such as digital media finance, recent legal cases affecting collegiate sport, and the central importance of collective bargaining. Financial Management in the Sport Industry is an essential textbook for any undergraduate or postgraduate course in sport finance, and an invaluable supplement to any course in sport business or sport management. It is also an important reference for all sport management practitioners looking to improve their understanding of finance. The book is accompanied by updated and expanded ancillary materials, including an instructor’s manual, PowerPoint slides, and an image bank.
Rich and his contributing authors provide a political and economic analysis of sports stadium construction in the United States—the impact it has on the sports industry itself and on the host communities in which stadiums and arenas are built. The book brings together the research of leading academic analysts of sports in American society and gives a candid assessment of the claims and benefits the sports industry makes, in its continuing promotion of new stadium construction. Focusing on Baltimore, Cleveland, Chicago, Boston, Detroit, New Orleans, Toledo and Phoenix, the authors examine the topic from the perspectives of history, politics, and economics—and in doing so they raise several questions about taxpayer and community protection issues. Specifically, what do communities really get out of these facilities? They point out that even as new and more expensive facilities are being built, Congress has not provided taxpayers and cities any real protection from the risks involved in stadium investment. Rich and his contributors examine how the pro-stadium coalitions mobilize and explain why stadium supporters manage to win most of their construction initiatives. In doing so, the contributors challenge the conventional wisdom that stadiums stimulate economic development and provide good jobs. On the contrary, they have not lived up to the promises owners made to their host communities. Neither have they generated high paying jobs nor have they met their operating costs. The book concludes with ways in which sports franchise owners can be held more accountable to their communities. The result is a powerful, well reasoned, skeptical but fair assessment of a growing phenomenon, and an important resource for professionals and academics in all fields of public policy administration and urban development and management.
Managing Sport Facilities, Fourth Edition With Web Study Guide, draws theory and application into an engaging, practical guide for effectively managing a sport facility. Topics include building design and construction, operations, marketing, legal issues, finance, and event management.
A unique new reference work, this encyclopedia presents a social, cultural, and economic history of American sports from hunting, bowling, and skating in the sixteenth century to televised professional sports and the X Games today. Nearly 400 articles examine historical and cultural aspects of leagues, teams, institutions, major competitions, the media and other related industries, as well as legal and social issues, economic factors, ethnic and racial participation, and the growth of institutions and venues. Also included are biographical entries on notable individuals—not just outstanding athletes, but owners and promoters, journalists and broadcasters, and innovators of other kinds—along with in-depth entries on the history of major and minor sports from air racing and archery to wrestling and yachting. A detailed chronology, master bibliography, and directory of institutions, organizations, and governing bodies—plus more than 100 vintage and contemporary photographs—round out the coverage.