Sports Agency and Event Management – Flashcards
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Sport Event Management
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-all functions related to the planning, implementation, and evaluation of a sport event
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Barnstorming Tours
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-the touring of star atheletes and teams to promote the popularity of a particular sport
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Client Representation
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-acting on behalf of a client in contract negotiations
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Client Marketing
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-locating appropriate endorsement opportunities, booking appearances, and developing entertainment extensions
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Zero-base Budgeting
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-review of all activities and related costs of an event as if it were the first time
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Cash-flow Budgeting
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-accounting for the receipt and timing of all sources and expenditures of cash
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DIM Process
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-developing, implementing, and managing the risk management plan
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Purchasing Insurance
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-provides security to an event regarding potential financial losses
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Players Associations
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-provide salary and contract data -provide guidance in salary and labor arbitration -provide information to support negotiations
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Collective Bargaining Agreement
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-a contract for all players in the league
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Conflict of Interest Occurs
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-if an agent's own interests are furthered over that of the athlete's interests
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Market Research
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-quantifies the value of sponsorships by computing the amount of media exposure afforded a company's logos, displays, and signage
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Tournament Operations
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-a script; a specific, detailed, minute-by-minute schedule of activities throughout the day often used by event staff -the nuts and bolts of an event
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Functions of a Sport Agent
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-marketing -negotiating and administering the athlete's or coaches contract -financial planning
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Reserve System in MLB
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-a rule that limited a free and open market for players
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IMG
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-originally formed to locate endorsement opportunities for a professional golfer
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Why is Hospitality important to an event?
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-provides a satisfying experience for participants of the event - provides an opportunity to "wine and dine" corporate sponsors -can be used as a method to develop good working relationships with the media thus attaining publicity for the event
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Octagon
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-a full service agency that represents athletes, runs events, and consults with corporations on their sport sponsorship involvement among other activities
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Specialized Agency
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-when a sport management/marketing agency limits either the scope of services performed or the type of clients serviced
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C.C. Pyle
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-known as the first sports agent
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What is the most likely unethical behavior to occur by agents in college athletics?
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-overly aggressive client recruitment
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3 largest Sport Management companies
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-SFX Sports Group -Octagon -IMG
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Mark McCormack
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-one of the first agents to represent individual athletes and a pioneer of the sport marketing industry
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Sport Management/Marketing Agency
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-a business that represents the legal and marketing interests of athletes
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Ticket sales can be an effective way to generate revenue at what type of events?
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Larger events, such as the World Cup of Soccer
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In-House Agency
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-when a company such as Visa handles all of its sports-related activities internally
