ABSTRACT
This chapter examines the importance and process of budgeting as a management discipline in sport. From an ‘importance’ perspective, budgeting is an integral part of an organisation’s operational, tactical and strategic planning. Consequently it is vital that those of you looking to build a career in the sport industry should have an appropriate level of knowledge and skill in budgeting. This important skill will help you to contribute meaningfully to your organisation’s business objectives. While it would be unreasonable to expect a single chapter of a book to be a one-stop shop for all you need to know about budgeting, it is possible for it to provide a sound overview of the subject. Practical examples drawn from a variety of sports management scenarios are used to illustrate the theoretical points being made throughout the chapter. We start by using some case study material drawn from events in 2016/17 to illustrate what can happen if budgeting is ineffective.
