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Financial Management
What are some of the causes of overestimating the economic impact of a sport event? Of underestimating?
Review the following description of an economic impact study and answer the questions that follow. When you have finished, you will have measured the economic impact of a large sport event. You have
What factors will affect the type of bond that a city will choose to issue for construction of a new recreation facility?
What factors will affect the type of bond that a school district will choose to issue for construction of new athletic facilities?
What differences, if any, are there when selecting a bond to construct a community recreation facility versus a high school athletics facility?
In your hometown, how have local recreation facilities and high school athletic facilities been financed?
What are the main sources of revenue for your hometown’s recreation center?
What pricing paradox do the managers of public recreation centers face?
How should the manager of a public recreation center measure financial success?
Over the past 30 years, how has the funding of park and recreation agencies and high school athletic programs changed?
Explain the process of calculating the millage needed to fund a new recreation center or high school facility.
The debt service schedules for Fenton, Missouri, are found in Exhibits 13.6 and 13.7. In Exhibit 13.7 why does the rate of interest that the city pays increase over time? Why does the city make two
How does state tax law affect the financing of parks and recreation facilities and programs?
For the funding of projects, why are municipalities moving from the use of general obligation bonds to revenue bonds, PFA bonds, and certificates of participation?
How can an individual’s experiences working in professional sport finance benefit a park and recreation agency?
What problems might arise in the negotiation of a joint use agreement?
You are tasked with calculating the property tax needed to fund construction and operation of a \($22.5\) million complex. The facility’s annual operating budget is forecast at \($3.6\) million, to
Calculate the additional millage required to cover the project’s debt service.
For an owner of property with a total assessed value of \($15,000,\) by how much will his/her property tax increase?
Perhaps one of the most successful public/private partnerships between a municipality and a private entity is the USTA Billie Jean King National Tennis Center. The National Tennis Center, located in
The University of North Carolina and Duke University have two of the more developed athletic department endowment programs in the NCAA. The main endowed fund at North Carolina is the Scholarship
How does money flow from the NCAA to its member institutions?
What differences in structure lead to financial differences among NCAA member institutions?
What financial role does college football play at NCAA Division I-FBS institutions? How does this compare to Division I-FCS institutions?
Why are athletic departments’ development efforts so critical?
What problems may exist in the relationship between donations and ticketing for college athletic events?
As director of development for Southern Ohio State University (SOSU), you have been charged with developing a plan to endow 12 men’s basketball scholarships. The current cost of a scholarship
Develop a major gifts table for the capital campaign. Explain the method you used to construct the chart.
What is the difference between win maximization and profit maximization? How can these differing philosophies cause problems in professional sport leagues?
How does a commissioner interact with owners and players in a professional sport league? What are a commissioner's main responsibilities?
How do professional sport leagues such as the NBA, NHL, NFL, and MLB differ in structure from entities such as NASCAR, the PGA Tour, and the PBA Tour?
Why do professional leagues establish rules governing the financial operation of individual franchises?
Explain the concept of pooled debt instruments.
Why have so many rival professional sport leagues failed in the United States?
Explain the concept of competitive balance. How have leagues attempted to achieve competitive balance?
Discuss the differences among the salary caps in the NBA, NHL, NFL, and MLS.
Explain how the NBA's new luxury tax system operates. Research and explain an example where the new tax rates affected (or may have affected) a team's decision to sign players for its roster.
What is WAR (in the context of sport finance)? Conduct research to determine the ten most efficient players during the last MLB season. Then compare their salaries to determine which player offered
List and describe the most important revenue sources for professional sport leagues. In what ways do you think these revenue sources will change in importance in the future?
Do you feel that daily fantasy leagues are gambling or games of skill? How do you feel the legislative and judicial branches of government will resolve this question in the future?
Explain why a relegation system would be difficult to implement in North American professional sport leagues.
If the federal inheritance tax is set at 40% of all assets above \($5\) million at the time of death, and a state's inheritance tax is set at 5% of all assets above \($1\) million at the time of
If a 30-team league is contemplating expanding by two teams, how much money should it charge each new franchise to ensure that during the first year of the new 32-team league, each of the existing 30
Suppose that last season, the top pick in a 30-team league's amateur draft signed a contract for \($2\) million per year. In the upcoming season, the league will implement a salary slotting system
Exhibits 2.6 and 2.7 provide an income statement and balance sheet from Nike’s 2014 annual report. For the purposes of this problem and the case analysis that follows, use the data provided (May
Exhibits 2.6 and 2.7 provide an income statement and balance sheet from Nike’s 2014 annual report. For the purposes of this problem and the case analysis that follows, use the data provided (May
According to the National Sporting Goods Association (2013), sporting goods in the United States is a nearly $60 billion industry. Sports apparel and athletic footwear are two of the largest
How does risk affect the financial management of sport organizations?
Describe the process of determining a nominal interest rate.
Of MLB, the NBA, and the NHL, which league has the most risk, and which has the least? Why?
What must players and agents understand about risk? How should an agent structure a player’s contract if it contains deferred compensation?
What risk factors should a team consider when deciding whether to build and fund a new venue? How are the risk factors different if a municipality is funding the construction?
If you were advising an investor interested in purchasing a sport franchise, what advice would you give?
Among NCAA men’s basketball teams, which team would you expect to have the highest value? Why? How do you think conference affiliation affects value among these teams?
You have the opportunity to purchase NFL Franchise A. The probability distribution of expected returns for the franchise is as follows:What is the expected rate of return for an investment in
An owner of several sport assets holds the following portfolio:What is the beta of this portfolio? ASSET INVESTMENT BETA Team A $100,000,000 0.5 Team B $100,000,000 1.0 Facility A $100,000,000 1.5
Boggs Sports Holdings has a total investment of $500 million in five companies:What is the beta of this portfolio? Company A INVESTMENT (IN MILLIONS) BETA $130 0.3 Company B $160 1.5 Company C $70
For the portfolio described in Problem 3, if the risk-free rate is 10% and the market risk premium is 5%, what is Boggs’ required rate of return? Problem 3:Boggs Sports Holdings has a total
You have been hired as the manager of a portfolio of ten sport assets that are held in equal dollar amounts. The current beta of the portfolio is 1.9, and the beta of Asset A is 2.1. If Asset A is
The Sports Investment Fund has a total investment of \($5\) million in the following portfolio:The market’s expected rate of return is 10%, and the risk-free rate is 4%. What is the required rate
Following is a distribution of returns:What is the coefficient of variation of the expected dollar return? PROBABILITY RETURN 0.4 $35 0.5 $24 0.1 -$15
Risk directly affects the values of professional teams. Groppelli and Nikbakht (2012) state that to maximize the value of a firm, managers must focus on increasing the growth rate of cash flows and
Explain the concept of inflation. How does inflation affect saving and investing?
How does a preference for liquidity influence an individual or organization’s financial decisions?
Explain the difference between simple and compound interest.
What aspects of the time value of money must professional sport organizations and athletes consider when negotiating contracts?
What mistake did the NBA make in its dealings with the owners of the Spirits of St. Louis?
What are some advantages and disadvantages of deferring salaries (both from the player’s and the team’s perspectives)?
What concerns should a sport organization contemplate when negotiating future payments from sponsorships or other long-term agreements?
What is the real increase in value if \($1,500\) is invested for one year at 5% interest and the rate of inflation during that time is 1.79%?
A sport organization has a commitment from a sponsor for a $17,000 payment in three years. What is the present value of that money if it is discounted at (a) 3%, (b) 5%, and (c) 9%?
Suppose you are the financial manager for a recreation center that has signed an option to purchase new elliptical machines for \($22,000\) in two years. If you have an investment opportunity that
An athlete signs a five-year endorsement deal with a prominent sponsor. Under this deal the athlete will receive \($5,000\) each year for the first three years and \($6,500\) each year for the final
What is the future value of \($12,000\) invested at 8% interest, compounded yearly for ten years?
If an investor commits $4,500 to an IRA each year for 30 years and receives 6% interest, what will her total investment be worth at the end of the 30 years?
A bank offers customers the option of receiving interest compounded quarterly, semi-annually, or annually. If the rate of interest is the same, which is the best option for the customer?
What is the difference between \($10,000\) invested for ten years at 3% interest, compounded yearly, and at 8% interest, compounded semi-annually?
The director of marketing of your organization asks for your advice regarding sponsorship deals she is contemplating. She has to choose from the following: a 15-year sponsorship paying \($100,000\)
Define microeconomics and macroeconomics. What are the main differences between the two?
Define and discuss monetary policy. What specific actions can the Federal Reserve take to achieve its goals?
List actions that a government can take to establish its fiscal policy. What are some fiscal policies specifically targeted to the sport industry?
What is a basis point? How does a change in a few basis points affect a loan?
What is a stock market index? What is an index designed to accomplish?
What are an LLC and an LLP? Why have they become more popular business entities over the past ten years? What concerns should an investor investigate before forming an LLC or LLP?
How has globalization affected sport finance in the past ten years? How might it affect sport financial management in the future?
What is your reaction to Phil Mickelson’s 2013 comments regarding taxes? What is the potential impact of Mickelson and others’ leaving California because of high taxes?
What are jock taxes? How is Tennessee’s jock tax unique?
If an interest rate is currently 6% and a lending institution announces a 25 basis point increase, what percentage increase does this represent?
Calculate the straight-line and sum-of-years’-digits depreciation schedules for a \($450\) video camera that will have a salvage value of \($50\) after five years of use.
Calculate the double-declining balance depreciation schedule for a \($1,000\) item that will last four years. What is the estimated salvage value?
For a fitness center that is purchasing a \($3,000\) photocopier expected to produce 30,000 copies, calculate the units-of-production depreciation schedule if the following numbers of copies are
Darlington Raceway is one of the most important tracks in the history of NASCAR. Opened in 1950, Darlington Raceway became a model for many superspeedway tracks that would be built later in the 1950s
How do budgeting and forecasting differ?
How does incremental budgeting differ from program planning budgeting? How does it differ from zerobased budgeting?
How does program planning budgeting differ from zero-based budgeting?
In team sport (professional or college), which form of budgeting should be used?
After you have calculated the 2016 budget, suppose your boss asks you to revise it so that overall revenues increase by 4% and operating expenses decrease by 1.5%.a. Based on current trends in
The intercollegiate athletics department at Coastal Atlantic University (CAU) has major budgeting issues. For the 2015 fiscal year, the university’s Board of Trustees has approved a \($20.4\)
That financial ratios are most valuable when viewed in comparison to the organization’s historical ratio values and competitors’ values. Why is this context valuable when examining financial
What are the five forms of financing, and how is each used within sport?
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