Gerrard, B.
(2022)
Sport, Economics, and Finance.
In: Wenner, L.A., (ed.)
The Oxford Handbook of Sport and Society.
Oxford Handbooks
.
Oxford University Press
ISBN 9780197519011
Abstract
This chapter focuses on the economics and finance of professional team sports. The business models of individual pro sports teams and pro sports leagues are considered and the key issues of the sporting and financial viability of teams and leagues are discussed. Four approaches to studying the business of professional team sports are identified: allocative (i.e., mainstream) economics; corporate finance; strategic management; and radical political economy. It is argued that only the radical political economy approach sets the business of sport in its social, cultural, and historical context but this approach has had a very limited influence within the sports economics literature. The chapter then considers three ongoing debates in sports economics: the motivation of team-owners; the role of league regulation; and innovation and the Moneyball story.
Metadata
Item Type:
Book Section
Authors/Creators:
Gerrard, B.
Editors:
Wenner, L.A.
Copyright, Publisher and Additional Information:
This item is protected by copyright. This is an author produced version of a book chapter published in The Oxford Handbook of Sport and Society. Uploaded in accordance with the publisher's self-archiving policy.
Keywords:
Professional team sports, sports leagues, team-ownership objectives, uncertainty of outcome, competitive balance, league regulation, Rottenberg invariance proposition, innovation, Moneyball, data analytics
CORE (COnnecting REpositories)
CORE (COnnecting REpositories)