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Why Do You Feel Are Important To Sports Finance?

493 Words2 Pages

There are a number of specialized areas of finance and sports finance is one of those specialties. It is clear that the sports industry is different from the banking industry or from manufacturing. However, regardless of the industry no business is able to succeed without using sound financial principles. Discuss why it is impossible to fully grasp sports finance without knowing the fundamentals of finance. What basic financial concepts do you feel are important to sport finance? How are those concepts applied to a sports organization?

Financial concerns can happen before every financial decision is made in the sports industry. As in sports, the athletes have a lot to do with revenue coming into the team. The means if the players are good then he brings revenue by fans purchasing his apparel and such. If he gets injured or does not play were then his revenue will decrease. This shows that everything including the athletes can have a potential financial impact on the sports industry. …show more content…

Due to the volatility of any business take the restaurant industry for instance you can build a 500000-dollar building have the best location and still not manage to make enough money to be able to have the financial stability to be successful. Restaurants are based on the food and the people’s response to what you have created. With sports, you take a lot of things in to account like the players on your team the text states that the week after the New York Knicks did not resign Jeremy Lin Maddison square Garden stocks dropped 93 million dollars over night. I would say that is a volatile situation. There was no change in the stadium no construction, no closure, the team did not move the team only did not bring one player back and the value dropped 93 million dollars. (Fred

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