This module will focus on the key elements of finance and economics and how they impact upon sports organisations.
In terms of finance, the module will focus on the balance sheet, breaking it down into the main assets that are used by a sporting institution and the alternative means through which those assets are financed. The concept of profitability and breakeven (for private and non-profit making organisations) from the income statement will be used to identify the main revenue streams and costs involved in running a sporting institution along with the differences between profit and cash flows. This will enable students to analyse the financial statements of a sports-based business through the use of financial metrics and key performance indicators. Additionally, ownership models will be analysed with the emphasis between those which focus on sporting versus financial achievements. Different techniques and models will be used to show how to value a sporting institution, along with the risks of using some of these models.
The module will also provide students with a better understanding of the main analytical techniques to understand some key issues in sports economics. Sports economics will be used as a laboratory to study general economic problems. While the module does not require any previous knowledge in econometrics and quantitative analysis, the ultimate aim is for students to learn to interpret some of the main results found in relevant research papers on the different aspects of sports business.