- Subject index
Written by European professors and focusing on the specificities of European sport, When Sport Meets Business analyses the growing commercialisation of professional sport in recent years and explains how it has developed into a major global industry. Structured into four sections, the book covers the key issues in the Business of professional sport: The New Sport Environment – Analysing the consequences of increasing commercialisation by looking at the multi-billion dollar sports goods industry; the effects of globalisation and how commercial influences have made running one of Europe’s most popular sports. Sport Marketing and Media – Investigating the role media and marketing has in commercialisation, with emphasis on the growth of sponsorship; media rights in European club football and the growing influence of social media in ...
Chapter 15: The Cost of Hosting International Sports Events
The Cost of Hosting International Sports Events
Local politicians and decision makers are easy to convince that for a country/city it will be worth hosting an international mega-sporting event. An ex ante study of the economic and social impacts exhibiting a net benefit will finalise the consensus. However, it is nearly impossible to succeed in hosting a mega-sporting event at expected costs and benefits. The economic rationale of this paradox lies in awarding such events through an auction-like procedure which turns out to trigger a winner’s curse. In this chapter, we will outline a critical examination of how a winner’s curse develops and to what extent its consequences can be managed.
First, the ...