Lecture Three - the economics of sport and physical activity Sport has evolved from a set of popular pastimes to a commercialised entertainment industry. The founding attraction of sports is now used to generate wealth

Economics Wealth is king ? Ryder cup –bidding process – millions generated – supported by local authority and central government Olympics - - bidding process against other states Football world cup – strategic (some would argue wealth) agenda for globalising the game (e.g. – Russia and Qatar) Super bowl – advertisements dominate the structure Sport feeds the economy directly and indirectly (marketing, products, advertisements, media rights, employment)

Involvement Continuum “Sport matters more than ever, in the sense that there is more money, bigger audiences, greater prizes, higher expectations, greater athleticism, higher stakes” (Barnes). evaluating the involvement of each stake holding group is important but is often forgotten so that divisions and gap appear in the economical stakes Grass roots funding Sport for all

Economic Legacy Wealth and benefits generated through sport may create ‘legacies’ and these can be in various guises and forms E.g. –Manchester commonwealth games London Olympics Glasgow 2014 Here, there is clear evidence of ‘making’ a difference through public funds

Media responsibility Too often high level wealthy agendas are over reported to the demise of:- 3 rd sector groups Community action Minority sports Those who benefit most from involvement and funding

Responsibility In examining the economics of sport we should consider:- Structures and sustainability Long term growth of sports Everyone benefits Democratic process Role of governance and regulation in this process (can governments interrupt and modify for greater equity – example –professional football – lower leagues)