Financial Management in the Sport Industry

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.

Matthew T. Brown is Interim Dean of the College of Hospitality, Retail and Sport Management at the University of South Carolina, USA, where he teaches and researches in the areas of sport business and finance. Brown has served as the Chief Financial Officer of the Southern Ohio Copperheads and Treasurer of the Board of Directors of the Southern Ohio Collegiate Baseball Club. He served as Treasurer of the North American Society for Sport Management from 2006 to 2012. In 2003, Brown was named the Jefferson College Alumnus of the Year and in 2018 received the Garth Paton Distinguished Service Award, North American Society for Sport Management.

Daniel A. Rascher teaches and publishes research on sports business topics and consults to the sports industry. At SportsEconomics and OSKR, he has worked on over 150 sports business engagements. He is Co-Director of the Sport Management Program at the University of San Francisco, USA. He has been named Research Fellow of the North American Society for Sport Management and received the Lifetime Achievement Award from the Applied Sport Management Association. Dr. Rascher has testified as an expert witness in federal and state courts, in arbitration proceedings, and provided public testimony numerous times to state and local governments.

Mark S. Nagel is Professor in the Department of Sport and Entertainment Management at the University of South Carolina, USA. Prior to joining the department, Nagel was Director of the graduate sport management program at Georgia State University. He currently serves as an adjunct faculty member at the University of San Francisco, and St. Mary's College of California. Nagel served as Treasurer for the North American Society for Sport Management and the Sport and Recreation Law Association. He is also the Associate Director of the College Sport Research Institute, USA.

Chad D. McEvoy is Vice Provost for Faculty Affairs at Northern Illinois University, USA. He previously served as President of the Sport Marketing Association and as editor of two academic journals in the sport management discipline. His professional affiliations include the North American Society for Sport Management and the Sport Marketing Association. He served as a panelist before the prestigious Knight Commission on Intercollegiate Athletics in a discussion on the effectiveness of NCAA penalties for rules violations. Dr. McEvoy’s professional industry experience is in intercollegiate athletics marketing.