Sport finance intro

hello and welcome to managing sport

finance this is a classic wonderful

class and hopefully a class that you're

gonna enjoy now I know a lot of people

are scared of numbers I am still to this

day a little bit scared of numbers and

so this class is not designed to test

your ability to understand math or

calculus or trigonometry or calculus or

anything else like that it's designed to

test your ability to take numbers and

make decisions based upon those numbers

to help asp organization grow and be

financially solid or to help close down

a small organization if it's going

bankrupt so we're gonna be covering wide

variety of different topics were

covering it in eight modules which is

typical for what we do with an online

class this is completely online but i'm

going to be having some of these videos

who i'm going to be talking about the

various topics and this is designed just

so you can put a face to the

conversation to also help introduce some

of the material and to give you a chance

to to see who i am so you understand

what I'm coming from when I'm looking at

your papers and grading your papers and

participating with you in discussion

board now a little bit about me some of

you might have had me already for sport

law class or some other class i am not a

sport finance guru i have written a

textbook on sport finance and that

textbook is in its third edition and

used in about 140 university throughout

the united states i wrote that textbook

because the quality of material that was

out there when i started teaching sport

finance was horrendous the first book

that I use was a book called like that's

my Howard and prompt in financing sports

and it had nothing to do with sport

finance it was how to find money and

revenue from different sources to help

finance for organizations it never

discussed budgeting didn't discuss

income statements or balance sheets or

inventory management or anything else

that I would typically assume to be part

of the financial

area and so I was so disappointed

because I wanted students really

understand sport findings to grow in

this industry to do well yeah Kevin what

we call a seat at the table just like

I'm at a table right now you have to

have a seat at the table how do you get

that by knowing finance if you can't

talk about financial issues and the

ramifications decisions might have on

the bottom line of our organization you

don't deserve a sit at the table I know

that might sound a little bit harsh but

that's the reality these are the people

that really expand and grow within a

sport organization they're the ones who

really can discuss issues such as

budgeting financial implications of

changing ticket pricing what happens if

you sign a long-term contract for

broadcast rights what could be the

ramifications if the value of the

property rights change over years things

like that those are all financial based

decisions and our journey throughout

this class will be to help clarify some

of those issues and make sure you can

have a seat at the table I hope you

enjoy the class as much as students have

in the past and it look forward to

seeing you online thanks a lot and talk

to you soon bye