Running head: REVENUE GENERATION IN SPORTSRevenue Generation in SportsNameInstitutionDate1REVENUE GENERATION IN SPORTS2Revenue Generation in SportsJust like in any other business, sports managers have to generate income. The differencebetween income generation in sports and in other businesses is that income generation in sportsis not motivated primarily by the need to make profits but by the desire to make sportingperformance better. High income enables teams or clubs to attract more qualified and skilledplayers and coaches, to buy better equipment and to improve their sporting facilities (Clausen etal., 2018).Revenue-Producing Events at a Sport VenueThe main revenue-generating events at a sports venue are the sports themselves. Whensports are held, for example, marathons and football among other sports, registrations,memberships, and tickets generate revenue. The spectators of sporting events buy tickets in orderto attend. In other events like marathons and other participatory events, the participants have topay a registration fee which generates revenue too. In other sports, the participants have to paymembership fees in order to participate in the events.Many sports venues become vacant and quiet once the sporting events are over.However, with the emergence of multi-purpose stadiums and the need to generate more revenue,sports managers are finding more events which can utilize their sports venues and as a resultgenerate revenue. Some of the ...
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