Description
The Final Paper is for you to culminate the learning achieved in the course by demonstrating your understanding and application of knowledge in the field of sport finance.
In this assignment, you will create a condensed business plan for purchasing and operating a professional sports team. This is a hypothetical sports team and you may make assumptions to support your key points.
Include the following elements in your condensed business plan:
- Overview: Introduce the business plan for purchasing and operating a professional sports team, and provide a thesis statement for your business plan.
- Marketing: Discuss how specific marketing promotions will help drive revenue and profitability for your sports organization. Consider trends, market strategy, pricing, sponsorships, advertising, and revenue generation sources, etc.
- Tax and Legal Issues: Discuss at least one tax and one legal issue you may face in the purchase or operation of your sports business.
- Financial Plan: Develop pro-forma financial statements (5 years) for your sports business. Include:
- An income statement on a monthly basis for year 1, a quarterly basis for year 2, and an annual basis for years 3, 4, and 5.
- A balance sheet on a monthly basis for year 1, a quarterly basis for year 2, and an annual basis for years 3, 4, and 5.
- A statement of cash flows on a monthly basis for year 1, a quarterly basis for year 2, and an annual basis for years 3, 4, and 5.
- Important Note: Use a spreadsheet program such as Excel to create the financial statements. Then, embed the statements by copying/pasting them into the final Word document.
- Financial Plan Assumptions: For all financial statements, include a list of key assumptions that drive your financial plan.
- Financial Analysis: Describe three financial metrics or ratios that you will use to analyze the health of your business.
- Financial Risks: Describe three potential financial risks for your sports business.
- Mitigate Risks: Describe possible ways to mitigate each of the risks listed above.
- Investor Return on Investment: Describe what you will offer potential investors in order to seek funding for your business. Consider types of ownership, stocks, dividends, interest payments, royalty fees, merchandise profit sharing, perks, etc.
- Exit Strategy: Describe your exit strategy assuming you are ready to sell the sports business in 10 years.
The Final Paper
- Must be eight to ten double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.).
- Must include a title page with the following:
- Title of paper
- Student’s name
- Course name and number
- Instructor’s name
- Date submitted
- Must begin with an introductory paragraph that has a succinct thesis statement.
- Must address the topic of the paper with critical thought.
- Must end with a conclusion that reaffirms your thesis.
- Must use at least five scholarly sources, in addition to the textbook.
- Must document all sources in APA style, as outlined in the Ashford Writing Center.
- Must include a separate reference page, formatted according to the APA Style as outlined in the Ashford Writing Center.
Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.
text reference,
Fried, G., DeSchriver, T. D., & Mondello, M. (2013). Sport finance (3rd ed.). Human Kinetics. ISBN: 9781450421041
Explanation & Answer
Attached.
Running head: SPORT FINANCE PROJECT
Sport Finance
Student’s Name
Institutional Affiliation
1
SPORT FINANCE PROJECT
2
Condensed Business Plan
Introduction
Sports is one of the lucrative ventures in the contemporary world. It helps people to keep
their body physically fit. Many people have developed an interest in watching sports.
Establishing of a sports team will create an opportunity where the organization will tap on the
formidable talents and skills of the team to generate income. The primary sources of finance for
the team will come from members’ subscription and philanthropists. The condensed business
plan for Sports team provides an overview of the activities carried out by the team, defines its
specific objectives for an establishment with specific goals which the organization will meet
during operations. It intends to provide strategies which team will use to utilize available
resources for better.
Thesis Statement
The plan aims to raise enough fund that will help the team purchase and operate a
professional sports team. The team will look at a hub for nurturing and developing talents and
skills of the organization. It will create a conducive environment where athletes can undertake
sports activities. Finance will help organization equip its stadia with modern sports facilities.
Provision of enough resources will boost general operational activities in the organization hence
making the organization to be efficient in operations. Availability of the funds will act as a
bridge towards enabling sportsmen and women to achieve some of the critical talents they have
in their life.
Objectives of Sport Team
I.
Provide activities which meet the need of a variety of people’s abilities and interest.
SPORT FINANCE PROJECT
II.
3
Foster culture among people to meet specific goals in their life hence make them achieve
some mission in their life
III.
Provide value-based talent development
IV.
It enhances the positive image of the society by entertaining guests and other dignitaries
V.
It enhances professional development, especially for coaches.
VI.
To enhance coexistence among people in society.
VII.
To enhance cultural development through interactions
Goals of the sport team
i.
It aims at expanding its operational activities so has to include any athlete in the program.
ii.
To generate enough finance for engaging in other business venture.
iii.
To maintain good relationship hence creating harmony among people.
iv.
To increase engagement activities among youth in discovering some of their unique talents.
v.
It will enhance efficiency in business coordination and operations.
Marketing Strategies for promoting Sports organization activities.
Sports organization will have to develop strategies for creating public awareness for its
existence. According to Koch, & Benlian, (2015), the company can apply a variety of the
techniques market its sports activities. Marketing requires an aggressive approach such as an
advertisement, creating good public relations, and digital interactions to reach out to many
people. These activities require commitment from the participant since the company is
considered as a start...
