ECONOMICS OF SPORT BUSINESS

This course aimed to introduce students to the business dimension of professional sport organizations and the competitive system where they work. Emphasis is placed on the examination of the different aspects involved in the management of these corporations (sponsorship, professional players' contracts, costs of home-grown players, co-ownership, broadcasting rights, and so on) and the impact on the financial statements.

Learning the basics of the management of a professional sports club and its economic and financial impacts on the balance sheet

None, because the course deals with basic aspects of the sports business

This course will explore:
1. national and international sport's organizations
2. the profit and loss statement and the balance sheet in sport business
3. measurement and recognition of Intangibles according to national and international accounting standards;
4. main sources of revenue in sport corporations and their accounting treatment:
a. gate receipts
b. broadcasting rights
c. sponsoring and merchandising
d. Disposal of professional players' contracts
5. professional players' contracts. Definition, conditions of purchase, recognition process and valuation according to national and international accounting standards:
a. trading of professional players' contracts
b. the temporary acquisition of a player
c. the co-ownership of football player's contract
d. the impairment loss of football player's contract
6. home-grown players of a professional sport business:
a. recognition process by journal entries
b. first professional contract of own-grown players
c. purchase of young players from other clubs
7. The Financial Fair Play

M.Mancin, Il bilancio delle società sportive professionistiche. Normativa civilistica, principi contabili nazionali e internazionali (IAS/IFRS) , PADOVA, Cedam, 2009. (exept par. 3.2, 3.3, 5.2, 5.5, 5.6, 5.7, 6.3, 6.4, chapter 7)

The exam (45 min.) consists of questions of theory and any exercises similar to the numerical examples of the text.

Conventional and through case studies

Italian

written