Sports Finance, What Do You Look For?

As with every other business, the sports industry requires funding in order to enhance its growth and ensure its survival. In the past, the financial aspect of the business was a task that was managed by the marketing manager. Nowadays the overall responsibility of the financial status of the business is operated by the finance manager. The sports businesses also need to raise funds to increase their cash flow levels. They can do this through the stock exchange, mergers, acquisitions, promotions, athletes’ transfers etc.

There have been cases where some clubs or unions have spent more than they can afford, which in turn leads to massive debt. In addition, there has been a noticeable drop in ticket sales and with no forthcoming funding from governments the interested parties have to look for ways to reduce their losses. They may choose to reducing players’ wages or not renewing their contracts. It can be quite difficult to get financing for sports and additionally keeping fans interested in the sport.

If sports organizations want to survive in this tough market, they have to come up with inventive ways. With careful financial planning and fresh new ideas like stadium construction, debt refinancing and revolving loans are a sure way for the continuous survival of any sports club.

When looking for sports finance, there are aspects like competition, environmental trends and demands fluctuation that play a vital role. Some see this as an opportunity to invest because if you invest when share prices are low you have the advantage of gaining more. The sports business can be a profitable venture if there is proper and coordinated management which strives for excellence.

3 Strategies to Find the Winning Sports Handicapping Picks

Establish proper money management

First and foremost, before you start shopping for the best handicapper in town, you should check your finances first. Most failed sports bettors have ignored this important aspect before they began their career in sports betting. To ensure that you do not suffer the same fate, you must first allocate a specific amount you can honestly afford to lose. Separate your betting money from the rest of your bank saving and always stick to that budget. Remember, there is no shortcut to success in everything. In gambling you either win or lose. So if you bet your entire bankroll on a single game and unfortunately lose, you will tend to make up for your losses, spending more and more money. If you don’t have a preset budget, you might find yourself sleeping in the streets.

Find an expert sports handicapper

Once you have established your finances you are now ready to seek consultation from a professional handicapper. This can be very tricky though. Of course you want to pay for someone who will give you winning picks so you should be meticulous in your search. To guide you, here are effective tips that you can follow when looking for a reliable expert sports handicapper.

Choose someone who has an established good reputation in the industry. You may know a friend or colleague who is very successful in sports betting, find out who his consultant is and do conduct your own investigation about the service.

Check for the handicapping agency’s winning record and length of experience. A professional handicapper’s track record will give you good idea how much winning picks you can derive from them. Do not settle for someone who only offers less than 55%. In the sports betting world that is unacceptable. A long year of experience – preferably three years or more – is equally important. You can only be confident in a sports handicapping agency/ professional whose service has stood the test of time.

Consider the service fee. This is a significant factor because it goes back to your money management. The amount you need to pay should be justified by superb service and rewarded by winning picks. Avoid a sports handicapping agency who demands upfront payment even before you are presented with the selections. Beware of handicappers who make promises of big wins because for all you know, they may turn out to be frauds and scammers.

Keep a detailed record

Record everything, the money you spend, the winning picks you get, the losing picks you receive, the number of times you win, the number of times you lose. Again, record everything. This might sound tedious and boring but this practice proves to be beneficial in being a successful sports bettor. You will be able to keep track of your finances and determine if you are in fact winning more bets than you are losing. This will also help you in evaluating the services you receive from the sports handicapping professional you are consulting. Moreover by keeping a detailed record you will soon figure out your weaknesses and strong points as a sports bettor. From there you can start enhancing your strengths while eliminating the weaknesses.

Sports Facility Financing – How Do You Raise The Money?

Sports facility financing is one of the most challenging aspects of the start-up process. If you are not self financing your sports facility you have to look elsewhere to get the money. But, how do you go about finding the right people and convincing them that you are the right person and this is the best place to put their money? You generally have three options in finding your money.

The first is the most traditional, and that is through the commercial banking system. This approach will require a high level of documentation and planning. You can expect to be required to disclose an in depth history of your financial history and past business experiences. Banks have protocols and regulations to follow, and remember the person you are dealing with is probably a disinterested third party. They will also probably require a substantial guarantee to back up any money they give. Banks tend to be a better option once you have opened your doors and have some history behind you, but convincing them up front before the foundation is poured can be a daunting task.

Finding a private investor is your second option. Finding someone who has a passion for what your are trying to accomplish is the key. Someone who can see what your vision is and has the money to do it is who you are looking for. The planning and numbers will still have to make sense but when you have someone on your side and emotionally invested in what you are doing, they are more likely to overlook some minor details that banks would never let go. This is not to say you are hiding information or blowing smoke, but that you have someone who believes in what you are doing and has a strong interest in seeing it succeed. Banks do not have the luxury of such an approach.

There is no getting around this part though, choosing to go the private financing rout requires a lot of door knocking and rejection. Concentrate on people who have strong connections to whatever sports you are offering. Current or former professional players, current or former professional coaches, or parents with kids who participate and have the means. These are all excellent candidates. You may even need to recruit two or three people to raise what you need to get going.

The third way to go is through a real estate partnership with a building owner or developer. Your biggest financial hurdle is securing a facility. I have been involved with businesses where an owner made a deal with a developer to finance and build the building to suit and the owner only needed to come up with the capital to buy the equipment and and fund the operations. That’s a big help in getting a facility open, although you do not retain control over the facility.

 

Sports & Finance Are The Same, But Different

The sports section is very popular among young adult males and it’s these very same young adult males who need to get a handle on their finances.

I’m amazed at how many statistics some people can quote about a team, the individual players, their seasons, their chances, the odds of winning a game, and even who the players are dating.

If you are going to spend a specific amount of time each day, reading the sports pages you had better be getting something out of it.

Sport is a great form of exercise and it’s invigorating. Watching a team that you align with win the big game is spirit lifting, but does it fatten your wallet?

If you like the sports page, you should discover the business section of the paper.

Why?

The sports section and the business section are the same, only different.

In Bangkok, where I live, there are t-shirts that read; “Same Same, but Different.”

Spotting one of those shirts over the weekend gave me the idea for this article and put my brain in motion. Since I’ve spent a large portion of my life in the financial world, I knew I could draw some comparisons between the sports section and the business section of a newspaper.

I’ll be upfront with you; I have never been a sports section junkie. My father read it religiously everyday of his life.

I had an interest in sports and played baseball in the summers and basketball in the school years, with some hockey, tennis, and football thrown in, but never cared about who hit the most home runs or how many year contract a player was signing.

If you’re not making the amount of money that you would like to be making, I suggest shifting from the sports section to the business section.

If you think the business section is too technical or too difficult to understand, think about how long it took you to figure out a players E.R.A., handicap, or referee’s signals.

If you have the brains to understand the rules of the sports, the scoring, player positions, and competitive advantages, you have what it takes to rip through the business section and find an idea, strategy, or opportunity to make money.

Attention getting photos are common in both sections, along with headlines that make you take a second look.

Opinions are a dime a dozen and there’s a sprinkling in both sports and business, everyone wants to know what will happen next. Predictions, odds, forecasts, and analysis go into both the world of sports and the world of business.

There are always standouts. Tiger Woods will get coverage because he’s the best at golf and Warren Buffet will get lots of print because he’ (at the time of this writing) the richest man in the world. He changes places with Bill Gates and Carlos Slim occasionally.

The big game is lost because a key player makes mistake and a company goes down the drain, because a key member makes the wrong commitment or passes on the opportunity of a lifetime.

Of course, there are disputes with officials, lawsuits, and lots of stress to perform. Members of both the sports section and the business section occasionally weed out the week players and those that have skirted the law for any number of reasons. Some players from both “leagues” do jail time and some do hard time.

The standings are important, because there’s something special about being number one. Being acknowledged as the best in your field is highly rewarded. The Detroit Pistons are usually in contention for the top spot and Toyota is in a tussle with General Motors for the top rung.

Celebrity is all part of both “games.” Knowing who Tom Brady is dating is right up there with wanting to know who the “Oracle of Omaha” wants to do a deal with.

Like a Hollywood hot sheet, scandal, tragedy, and criminal charges are front page items in both sections.

International competition makes the camaraderie even more intense. As the World Cup gathers momentum and fans; China strives to be a dominant global manufacturer.

The standings show how a team is doing for the season, but on Wall Street, they have their own seasons, either calendar or fiscal year and just like football, the game is divided into quarters for a better indication of what has to be adjusted in order to come out on top.

Rumors abound in both “worlds.” Is one of the main ingredients of a team or company jumping ship to a competitor?

Information leaks out from the base camps and the frenzy begins and the predictions, forecasts, and commentary are given fresh fuel to fill another column on another day.

Power struggles are always worth reading about and discussions about who has the most experience and stamina to do the job, but in both sections there are stories of upsets.

Day after day we are subject to facts, figures, and forecasts that we really don’t care about. Useless information is plentiful. Staggering statistics and numbers that very few readers understand are given ink in both “worlds.”
Both are guilty of giving time and attention to items that no one really cares about, but they do it all the time.

It’s the scenarios, the “what if” factor that I like. Everybody thinks they know what’s going to happen next and will lay their money down to prove it. When the gurus are wrong, they’re quick to come up with some double-talk excuse as to why it didn’t follow the predicted logic.

“What if” they trade their quarterback? “What if” they can’t get their raw materials cost down?

Sports betting is popular and buying stock on news of a breakthrough is sort of a bet, but I’ll bet that you never really stopped to think that the sports section of the newspaper and the business section of the newspaper are more similar than they are different.

If you’re investing some of your time everyday to reading the sports section of the newspaper, shift to the business section with the same passion and you’ll discover all the things that keep you tuned into sports will keep you tuned into business.

The sports page will give you things to think about, talk about, and follow, while the business section will give you things to learn about, think about, investigate, follow, and fatten your wallet with. “Same Same, but Different.”

Rugby Supporters Manage Finances Better Than Football Fans

Rugby followers could be more astute at handling their finances than their football-supporting peers, new research reveals.

With the England rugby team beginning their defence of the world cup in France and the national football squad preparing for a Euro 2008 qualifier with Israel this weekend, a study carried out by Callcredit suggests that the former may be better at managing their money. Suggesting that stereotypes might be true, the credit reference agency pointed out that the typecast of the middle-class rugby fan is able to fund going to matches more adequately than working-class football followers. In turn, it was reported that those watching rugby are less likely to run up debts on loans and credit cards to support their team.

Commenting on the study, Owen Roberts, head of MyCallcredit, said: “From our research we’ve seen that 77 per cent of rugby fans are homeowners, whereas only 20 per cent of the football fans have managed to get their foot on the property ladder. We also found that rugby fans are less likely to get into debt funding their habit than footie fans.”

“Getting behind the national team, be it rugby or football, is an exciting experience for many of us. But with few of us on similar salaries to our sporting heroes, we all need to consider the financial implications of our sporting passions,” Mr Roberts added.

Pointing to a Mintel survey, the credit reference company reported that football supporters “are in danger of seriously damaging their finances in pursuit of the beautiful game”. According to the figures, some fans can spend thousands of pounds just to follow their team, which in turn could well affect their ability to service other areas of their finances such as overdrafts, mortgages and loans.

Meanwhile, Callcredit also pointed to Tom Cherrill, a 25-year-old from South London, as an example of the financial pressures football fanatics may be placing on themselves. He said: “I guess I’ve spent thousands of pounds supporting Newcastle United over the years and try to get to as many games as possible. I’ve never had to add it all up before though, but with the train fares, hotels and nights out taken into account, it’s shocking that it makes up such a massive chunk of my outgoings.”

Whatever sport they follow, those concerned about the level of debts run up by supporting their team, in addition to other constraints on their monthly outgoings such as home loans and credit cards, may wish to take out a debt consolidation loan. Earlier this year, David Kuo, head of personal finance for the Motley Fool, claimed that opting for such a low-rate loan can act as a “welcome lifeline” for those consumers who find themselves in serious financial difficulties. However, with research from the financial services provider showing that about three out of five debt consolidation consumers borrow more money in the future, Mr Kuo urged Britons to plan their finances properly and avoid the temptation of getting into the red again.