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.
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
All ancillaries are free to course adopters and available at
www.HumanKinetics.com/SportFinance.
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.
The presentation package is also available for purchase • ISBN 978-1-4925-7138-4
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.
The web resource is also available for purchase separately • ISBN 978-1-4925-7139-1
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