Sports Finance and Management: Real Estate, Entertainment, and the Remaking of the Business

Hardcover (Print)
Rent
Rent from BN.com
$34.67
(Save 54%)
Est. Return Date: 06/23/2014
Used and New from Other Sellers
Used and New from Other Sellers
from $67.97
Usually ships in 1-2 business days
(Save 10%)
Other sellers (Hardcover)
  • All (7) from $67.97   
  • New (5) from $67.97   
  • Used (2) from $98.61   

Overview

The sports business landscape has changed dramatically in the past two decades. Teams and facilities have become integral parts of the businesses of real estate and development, entertainment, and the media.
While an understanding of core financial management issues specific to the sports industry is still mandatory, a greater appreciation of financial and management issues that link teams to the dynamic forces that make it possible to listen or to watch games at home, on the road, or anywhere a fan happens to be is also needed.

Sports Finance and Management: Real Estate, Entertainment, and the Remaking of the
Business
takes an in-depth look at the changes in the sports industry, including the interconnecting financial issues that occur when a sports team becomes a part of bigger companies, the altered nature of fan loyalty influenced by network and Internet footprint, dramatic changes in sports venues driven by the trend for single-purpose stadiums, and league policies such as revenue sharing, luxury taxes, and salary caps. The authors have deliberately not chosen sports examples to teach general finanancial and management concepts. Rather, they use basic financial and management concepts to illsutrate the differences and uniqueness of the sports industry. This gives students tackling finance issues for the first time a firm foundation, while allowing those more expert in financial issus to apply their skills and knowledge to the issues specific to the sports industry.

Capturing the issues that make the sports industry different from any other, the text examines the effects of public financing, unique pricing structures, and roster depreciation allowances. It includes a detailed treatment of risk measurement based on the monetary value placed on championship wins and the influence fixed rosters have on the investment horizon. These features and more give students the foundation needed to understand finance and management as well as the idiosyncrasies of the sports industry.

Read More Show Less

Editorial Reviews

From the Publisher
… sheds light on issues that are unique to the sports business … takes an in-depth look at the changes in the sports industry, including the interconnecting financial issues that occur when a sports team becomes a part of bigger companies … captures the issues that make the sports industry different from any other.
— NeoPopRealism - Wonderpedia,
Jan/Feb. 2012
Read More Show Less

Product Details

  • ISBN-13: 9781439844717
  • Publisher: CRC Press
  • Publication date: 9/19/2011
  • Edition description: New Edition
  • Pages: 499
  • Sales rank: 790,385
  • Product dimensions: 6.20 (w) x 9.00 (h) x 1.20 (d)

Meet the Author

Jason Winfree, Ph.D., is Associate Professor, Sport Management in the School of Kinesiology's Department of Sports Management at the University of Michigan. Dr. Winfree is a sports economist, whose primary research focuses on professional and collegiate athletics.

Mark S. Rosentraub, Ph.D. holds the Bickner Chair in the School of Kinesiology's Department of Sports Management at the University of Michigan. Previously, he was dean and professor at the Levin College of Urban Affairs at Cleveland State University and an associate dean and professor in the School of Public and Environmental Affairs, Indiana University.

Read More Show Less

Table of Contents

The Redefinition of the Sports Business
Introduction
Sports Finance and Management in Real Time
References

The Structures of Ownership
Introduction
The Emergence of Team Sports and Profitable Markets
Ownership and Expansion: From Individual Entrepreneurs to Large-Scale Entertainment, Real Estate, and Media Firms
Ownership Patterns Today
Ownership Structures
Horizontal and Vertical Integration
The Integration of Real Estate Development, the Media, Entertainment, and Team Ownership
References

Financial Statements, Revenues, and Costs
Financial Statements
Balance Sheets
Income Statements
Statement of Retained Earnings
Statement of Cash Flows
Analyzing Financial Statements
Ratio Analysis
Revenues and Costs
Stadium Revenue
NFL In-Stadium Revenue
NBA In-Facility Revenue
Naming Rights
Media Revenue
Player Costs

Facilities: “Disneyfication” and Design
Introduction
Facilities: The Early History
The Constrained Supply of Sports Franchises
Disneyfication and the Location of Facilities
Where Should a Facility Be Built?
Design and the Competition for Discretionary Income
The Exterior Design of Facilities and Intrafacility Competition
References

Stadium Financing
Introduction
Financing Tools
Financing Facilities: Who Really Pays?
Facility Financing: The Team’s Share
Facility Financing: A Public Sector Investment
References
Appendix 1

Sports Teams and Real Estate Development, or Real Estate Development Companies with Sports Teams?
Introduction
Increasing Value of Downtown Locations for Sports Facilities
Rise of Horizontal Integration, Residential Real Estate, and Entertainment Venues
Managing the Real Estate Inside a Facility
Managing the Real Estate Outside the Facility: The Increasing Value of Sports Venues as Anchors for Development
References

Media and Sports Management
Introduction
Sports and the Media: Brief History
Phase 1: Media and Team Relationships
Phase 2: Large Scale Revenue from the Sale of Media Rights
Impact of Phase 2: The Profitability and Revenue Power of Television, the NFL, and Revenue Sharing
Phase 3: The Vertical Integration of Teams and the Media
Phase 3 Continues: College Conference Networks
Media, Sports, and the Future: Emerging Competition in the Delivery of Games to Fans and Advanced (Internet) Media
References

What Are Teams Worth? Team Valuation
Introduction
Establishing a Team’s Market Value: Basic Observations
Valuation Models
Other Factors Affecting Value
What Is the Value of NFL, MLB, NBA, and NHL Franchises?
Multiple Earnings
Constant Growth Pricing Model
Other Sports
College Sports
Conclusion
References

Demand and the Sports Business:What Does the Customer Want and How Does a Team Owner Provide It?
Introduction
Defining Demand
Long Run Demand for Sports
Short Run Issues in the Demand for Tickets
Reference

Pricing Strategies
Introduction
Ticket Prices
Are Ticket Prices Too High, Too Low, or Just Right?
Why Are Ticket Prices Inelastic?
Price Discrimination
Bulk and Group Discounts
Product Bundling
Variable Ticket Pricing
Day of Game Pricing
Dynamic Pricing
Personal Seat Licenses
Condominium Seats
Futures Options
Pay What You Want
Media Prices
Merchandise Pricing
References
Appendix 1
Appendix 2
Appendix 3

Capital Budgeting and Team Investments
Introduction
Team Investments
Facility Investments
Player Investments
Cost of Capital
References

League Policies, Taxes, and Profits
Introduction
League Policies
Player Drafts
Revenue Sharing
Luxury Taxes
Salary Caps
Promotion and Relegation
Collective Bargaining
League Specifics
Competitive Balance
Taxes
Roster Depreciation Allowance
Player Taxes
State Taxes
Ticket Taxes
Tax Exempt Status for Universities
Profits
Leverage
References
Further Reading on League Policies
Appendix
References

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)