In this chapter, we explore stakeholders and stakeholder theory within the context of sport events and tourism. We first review and critically analyse the application of stakeholder theory focusing on the focal organisation and types of stakeholders studied. We also analyse stakeholder relationships to unveil collaboration challenges like reciprocity, fluidity, and salience. We then critically reflect on this scholarship to address important stakeholder challenges and limitations of stakeholder theory’s dyadic nature. To address stakeholder theory’s shortcomings, we offer social network theory as an alternative avenue for sport events and tourism stakeholder investigative pursuits. In doing so, we advocate for 1) the continued application of stakeholder theory to consider stakeholder proximity, online/virtual stakeholders and the phenomenon of co-hosting and 2) the use of social network theory both independently and in conjunction with stakeholder theory to move beyond dyadic relationships towards better understanding stakeholders within sport event and tourism networks.