ABSTRACT
Photo 5.1 A five-a-side football event in Tyne and Wear in north-east England at which the football shirts were supplied in a sponsorship-in-kind agreement with a local car hire firm.
LEARNING OBJECTIVES
After studying this chapter, you should be able to:
■ understand the importance of assessing financial feasibility in the event planning process
■ identify key practices in the planning and control of sports event finance ■ understand the importance of financial risk assessment and identify key risk
management practices
INTRODUCTION
This chapter considers the importance of implementing financial planning and control at the feasibility stage by describing the process involved. The role of budgeting and targets is discussed as a key part of this process. The complementary area of income generation, also a key activity at this stage of planning, is covered in the next chapter. Event finances have to be managed on an ongoing basis and throughout the process, however, and so the central focus here is on how that can be achieved. Key areas such as the acquisition of funding and the control of expenditure are considered, and the need for financial risk management is emphasized.
