Sports Finance and Management: Real Estate, Media, and the New Business of Sport

Cover
Half Title
Title Page
Copyright Page
Dedication
Table of Contents
List of Figures
List of Tables
Preface
Chapter 1: Redefining the Sport Business Industry
	Introduction
	Sport Finance and Management in Real Time
	Notes
	References
Chapter 2: Ownership and the Emergence of Team Sports
	Introduction
	Emergence of Team Sports
	Textbook Definitions of Ownership
	Observations on Individual Sports
	College Sports “Ownership”
	Ownership and Expansion
	Profit Maximizers and Welfare Maximizers
	Business Acumen and Sport: Changes in Team Operations
	Mergers, Acquisitions, and Integration
	Notes
	References
Chapter 3: 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
	Media Revenue
	Player Costs
	The Payoff from College Bowl Games
	Note
	References
Chapter 4: Placemaking, Sport Venues, and the Fan Experience
	Introduction
	Facilities: The Early History
	The Constrained Supply of Franchises
	Placemaking and the Fan Experience
	Where Should a Facility Be Built?
	Design and the Competition for Discretionary Income and Time
	The Exterior Design of Facilities and Competing for Events
	Overbuilding Facilities and Market Saturation
	College Venues and the Student Section
	References
Chapter 5: Financing Sport Venues
	Introduction
	Teams and Venues as Public Goods and Strategic Investments
	Facility Financing: The Team’s Share
	Facility Financing: A Public Sector Investment
	Facility Financing: Who Really Pays?
	Financing College Sports Venues
	Notes
	References
	Appendix 1
Chapter 6: Teams, Venues, and Real Estate Development
	Introduction
	The Increasing Value of Downtown Locations for Sport Facilities
	In-Facility Real Estate
	Real Estate Outside Facilities: Sport Venues as Anchors for Development
	References
Chapter 7: Media, Entertainment, and Sport Management
	Introduction
	Sport and the Media: A Brief History
	Phase I: Media and Team Relationships
	Phase II: Large-Scale Revenue from the Sale of Media Rights
	Phase III: Vertical Integration of Teams and the Media
	Media, Sport, and the Future: Emerging Competition in the Delivery of Games
	Notes
	References
Chapter 8: What Are Teams Worth? Team Valuation
	Introduction
	Team Valuation: Factors to Consider
	Valuation Models
	What Are Professional Teams Worth?
	Multiple Earnings
	Constant Growth Pricing Model
	Other Sport
	College Sport
	Notes
	References
Chapter 9: Demand and the Sport Business: Customers’ Changing Expectations
	Introduction
	Defining Demand
	Long-Term Demand Factors
	Short-Term Demand Factors
	Notes
	References
Chapter 10: 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
	Auction Pricing
	Personal Seat Licenses
	Condominium Seats
	Futures Options
	Pay What You Want
	Media Prices
	Merchandise Pricing
	Notes
	References
	Appendix 1
	Appendix 2
	Appendix 3
Chapter 11: Capital Budgeting and Team Investments
	Introduction
	Team Investments
	Facility Investments
	Player Investments
	Cost of Capital
	Notes
	References
Chapter 12: League/Conference Policies and Taxes
	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
	Notes
	References
	Further Suggested Reading on League Policies
	Appendix 1
Chapter 13: Facility Management: Public Authorities/Corporations and Real Estate Development
	Introduction
	The Need for Public Authorities for Sport Venues
	The Broad Use of Public Authorities
	Creating Authorities for Sport-Anchored Districts and Venues
	Conclusion
	Notes
	References
Chapter 14: From Theory to Practice: Case Studies
	Introduction
	A $750 Million Public Sector Investment: The Raiders’ Relocation to Las Vegas
	Red Wings, Pistons, Little Caesars Arena, and The District: A New Future for Detroit
	The San Diego Padres, JMI Realty, and the San Diego Ballpark District9
	The Staples Center, L.A. LIVE, and Downtown Los Angeles12
	Notes
	References
Index