Research Paper on Intercollegiate Athletics Program

Introduction

The intercollegiate athletics program is an important extra-curriculum program which helps to nurture the talents of young students. It also helps in the building of professionalism amongst the students, and this prepares them for a promising career ahead of them in the future. The program gives the students an opportunity to interact amongst themselves which helps in building long-term friendship relationships and also the sharing of ideas. The program is this crucial to students calls for proper planning and management of revenues required in participation. It involves estimation of costs involved, the revenues generated from the whole program.

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Intercollegiate athletics events are very famous among many people. Therefore, the program attracts a lot of revenues which are used mainly to finance the activities. The primary sources of revenues include a proportion of finance paid by the participating institutions. The participating institutions allocate a portion of their budgets to sports which are paid to the organizing team to finance the whole event (Bernstein, 2018). Another source of revenue for this program sale of the tickets. These events attract a huge number of crowds especially family and friends of the participating students. To have an opportunity to be part of these events, you must have a ticket and the money raised from the sales of these tickets acts as a primary source of revenue. The other source of income is from media rights and branding. These athletic events are aired on TVs and Radios. For these media channels to broadcast these events, they have to pay some amount of money. Other sources of revenues include external sponsorships and donations.

However, to arrange these events a lot of expenses are incurred. Recruitments of the participants are one of the significant expense. The participants have to be trained to perfect their performances, and this comes at a cost. Interlinked with the wages paid to the coaches and mentors of these students. Many participating institutions majorly invest their resources in hiring the best coaches so that they can remain competitive in all the designated events. Travelling is one of the significant expense incurred by the participating schools. There is a lot of movement to and from the venues where these activities take place. This too comes at a cost as these movements have to be financed by the schools participating in the whole program. Schools have to fuel or hire buses for transportation of their participants.

Conclusion

Understanding sports economics is very crucial to any person working in the sports finance department in the school. One of the significant aspects of sports science is budgeting. Being a preeminent program, it requires adequate planning and management of finances (Lisnek, 2018). The sports science department is responsible for planning for the costs involved in participating in the program and what are the prospective benefits to be reaped from the whole program. The above makes the understanding of sports science very crucial.

References

Bernstein, J. (2018). Smart Contract Integration in Professional Sports Management: The Imminence of Athlete Representation. DePaul J. Sports L. & Contemp. Probs., 14, 88.

Lisnek, P. (2018). Sports management.