Intro to Sport Management EXAM 2
10% increase in $50 ticket to $55 results in a 12% decrease in demand=....
<$
10% in $50 ticket to $55 results in a 8% decrease in demand=...
>$
Manufacturer and retailer each have a duty to warn when a product's _______ is not apparent to the purchaser
danger
Texas Tech vs. TCU football game: rushing the field in 2013...
"Silly announcer, you can't stop raider nation from rushing the field if they want to. Wreck 'em"
Examples of Corporate Social Responsibility:
- NFL's Live United Campaign -NFL's Play 60 -NBA's Basketball Without Borders -NBA's Read to Achieve -MLB's Urban Youth Academy -MLB's Boys and Girls Club
What goes in to media relations?
- Schedules -Media Guides -Game programs -Coach and athlete interviews -Post game stat sheets -Press conferences -Video news releases -Conference calls -Press releases
Negligence is the failure to act as a reasonable, up-to-date, and prudent person would act in similar circumstances (is an unintentional tort)
-Actual loss, damage, or injury -Breach of duty was the causation of the injury -Breach of the legal duty of care -Legal duty or standard of care
Examples of Income Sources
-Advertising -Concession -Conference sharing -Donations -Facility rentals -Fund raising -Guarantees -Institutional support -Investment income -Luxury suites -Merchandise sales -Parking -Premium seating -Program sales -Radio rights fees -Sponsorships -Stadium naming rights fees -Student fees -TV rights fees -Ticket Sales
Monopolies lead to greater market power among sport leagues leading to greater...
-Bargaining power vs. players, broadcasters, corporate sponsors, and local gov. -Franchise profitability -Ability to enact salary caps and revenue sharing in the absence of competition
Soft taxes
-Car rental and taxis -Hotel/motel - Restaurant - Tobacco and alcohol
External Resources in Market Research
-Census Reports - Demographic Reports - Professional Market Research Services
Promote Products & Increase Sales
-Improve image -Hospitality and entertainment -Exposure to target market -Increase Awareness -Media exposure
Itemized Budget Requests from Coaches of each Team or Managers of each Department
-Cost and justification for each requested item -Itemization of requested items, i.e., numbers, sizes, and descriptions in full -Quotes for each item to be purchased
Advertising- Paid messages that...
-Create attention - Maintain Interest -Arouse Desire -Initiate Action
Civil Cases:
-Duties owed to other members of society -Actions were not crimes -Jury uses a "preponderance of the evidence" standard in making its judgment of guilty -Usually results in monetary penalties
Duty of Care Owned: Tespasser-
-Duty to protect child trespassers from foreseeable harm caused by dangerous artificial conditions on property -Should warn a potential trespasser of any known dangers -No duty of reasonable care about an unknown danger is owned
Needs assessment — what unmet need exists?
-Location -Multi-purpose or single sport -Recreational or competitive - Types of sports and events -Size or capacity -Amenities and services
Community Relations...
-Focuses on showing external stakeholders that people in organizations care and are willing to give time and money -Uses outreach activities of players, coaches, and other personnel and philanthropic activities to further internal organizational goals like public relations or enhance the sale of tickets
Constitutional Law Applied to Sports
-Freedom of expression in religion, speech, the press, and invasion of privacy (1st Amendment) Unreasonable search and seizure (4th Amendment) — drug testing is is a search -Procedural due process — protects an individual's rights (5th and 14th Amendments); requires notice and a hearing before life, liberty, and property can be taken -Equal protection (14th Amendment) guarantees against discrimination for all races, ages, and genders
Equity (Investment)
-Funds invested -Retained earnings
Prevention and protection:
-Identify potential hazards or risks associated with facilities, equipment, staffing, participants, policies and procedures, and programs -Develop and implement risk management strategies to remove, reduce, or transfer risk
Disadvantages of budgeting
-Increase gamesmanship -Wasteful spending -Consumption of time and resources
Types of Fund Raisers
-Jog-a-thon -Bake sales -Car Washes -Celeb events -Raffles -Summer camps -Yard work projects -Yard sales
Surveys are done through...
-Mail -Telephone -Personal Interviews - Online
Make the facility safe:
-Make regular inspections -Complete preventive maintenance -Post warnings about risks associated with using facility and equipment -Enforce safety rules and regulations -Record in detail all injuries and maintain a well-organized file of these reports -Monitor, evaluate, and continuously improve the risk management plan
When working with the media...
-Make sure all rules are followed -Delegate working with the media to the sports information office (colleges) or Media Relations Department (professional teams) -Provide timely and accurate information and access to coaches, athletes, and other personnel for interviews -Meet reasonable requests for access to the facility for equipment staging right before an event to print and electronic media -Provide refreshments and access to appropriate technologies
Examples of Sport Marketing Jobs
-Market Research -Promotions -Corporate Sales -Season Ticket Sales - Public Relations -Ticket Sales -Group Sales -Advertising -Event Planning
Examples of Market Research
-Market research/ analysis reports -Marketing plans -SWOT Analysis report -Location analysis report -Competitive analysis -Target market analysis -Domestic/ international competitors -Price analysis -Identify trends
Monopolies Violate Antitrust Law
-Monopolies have no direct competition for their products or services (monopolies eliminate comp.) resulting in higher -Prices charged for tickets - Broadcasting rights fees charged -Prices paid by corporations for luxury suites -Taxes and subsidies paid by taxpayers for stadium construction
Other Significant Laws and Areas Where They Affect Sports
-National Labor Relations Act of 1935 -Federal Trademark Act of 1946 (Landam Act) -Sports Broadcasting Act of 1961 -Amateur Sports Act of 1978 -Players unions -Trademark licensing -Televising professional sports -Olympic Games and independence of sport organizations
Protection against claims of defamation:
-No reason to believe the statement was false -Person had a reason to make the statement to a person with a justifiable interest in knowing
Arms Race in Intercollegiate Athletics
-One college increasing its expenditures on athletic facilities to match or exceed similar increases by other colleges; colleges with the newest, most technological and advanced facilities are used to gain a recruiting advantage
Monopsony is Analogous to a Monopoly but on the Demand Side
-Only one customer in the market (demand comes from one source) -Controls (pushes down) the market price by controlling the quantity-- the reserve clause in baseball reduced the availability of players, thus reducing their salaries -Since only one team can sign a player drafted in professional team sports, the draft operates as a monopsony and reduces salaries of draftees
Feasibility assessment (is it financially possible to construct and operate this facility?)
-Optional economic impact study -Potential funding sources for construction and infrastructure -Potential revenue streams for debt repayment and operational expenses
Advantage of Limited Liability Corporation or Limited Liability Partnership
-Partnership for income tax purposes -Has liability protection of a corporation
Special Event Promotions:
-Picture opportunities -Autograph opportunities -Youth games (pre-game; half-time; post-game) -Fireworks -Concerts -Exhibition games -Alumni games
Advantages of budgeting
-Plan and review entire operations and allocations to ensure alignment with goals -Provide guidelines for staff to improve communication and coordination -Monitor expenditures -Provide info for financial control -Ensure accountability so expenditures can be measured and reported
Operations:
-Policies, procedures, and operational guidelines and how these will be implemented -Personnel management — specific to the facility, rather than to an event -Equipment purchasing, inventory, and maintenance -Facility maintenance -Scheduling -Financial management — revenues, such as rentals; expenses, such as personnel -Legal (contracts; accessibility; employment; risk management; safety; insurance) -Signage and advertising -Technology -Guest services, such as ticket sales, concessions, merchandise sales, and parking Security Evaluation and on-going operational enhancement
Limiting Liability for Injuries to Fans Who Rush the Field:
-Post "no trespassing" signs around the field -Make public address announcements about not rushing the field -Provide adequate on-field security -Video tape fans who rush the field -Post sanctions for rushing the field -Enact disciplinary and judiciary proceeding for violators -Provide written notices on tickets that on-field celebrations are prohibited and anyone violating this policy will be prosecuted
Right of fans
-Post-game celebrations with their team -Encouraged by the media -No fear of getting caught or being punished -Damages and costs are part of winning
Product Liability Strict liability in tort — seller is liable when....
-Product had a defect that presents an unreasonable danger to a person -Defect existed at time of sale by manufacturer -Defect caused the injury
Should maintain professional liability insurance coverage of at least $1,000,000:
-Protects against claims of negligence, but not against intentional torts or carelessness that cause injuries -Protects against claims of negligence occurring in the furtherance of professional duties but not for activities outside of job duties
Public Relations:
-Provides information to generate fan interest and develop positive relationships -Develops an effective message -Identifies target audience -Selects delivery method
Examples of Expenses
-Salaries -Grants in aid -Cheerleaders -Equipment -Insurance -Marketing -Officials -Recruiting -Security -Uniforms -Utilities -Advertising and printing -Athletic training supplies - Capital expenses -Debt Service -Facility maintenance -Office equipment, furniture, supplies, phones, postage -Band -Media and community relations -Transportation, lodging, and food
Antitrust laws promote competition through regulation controlling exercise of private economic power:
-Sherman Antitrust Act -Clayton Act -1922 — exemption of Major League Baseball
What is in a name?
-Source of origin -Standard of quality -Goodwill -Advertising investment -Protects consumers from confusion or deception -Basis for court decisions
Different kinds of Promotions
-Special ticket rates for seniors, children, groups, and teams -Discounted concession items - Free/discounted tickets - Giveaways -Prizes and financial incentives to encourage purchases
All of these bonds are
-Tax-exempt -Taxable -Special bonding authority
Intercollegiate Athletic Associations: Are typically allowed to operate without legal interference unless they engage in actions that...
-Violate the law -Violate constitutional rights -Are arbitrary or capricious -Are fraudulent or unreasonable -Break their own rules
Marketing Research Questions What?
-What are competing products? -What benefits do customers seek?
Marketing Research Questions When?
-When do customers make purchases?
Marketing Research Questions Where?
-Where are tickets or products purchased? -Where do potential buyers obtain event or product information?
Marketing Research Questions Who?
-Who are the potential fans(demographics)? -Avg. attendance at games (day, evening, weekend)
SUPPLY CURVE--- QUANTITY WILL PROVIDE: TTU won the national championship in womens basketball-
-With an increase in demand for TTU merchandise and clothing, TTU athletics charged higher prices -Demand curve moves to the right -Supply curve moves upward
SUPPLY CURVE--- QUANTITY WILL PROVIDE: Madden NFL 14-
-With an increase in demand, suppliers can charge a higher price -Demand curve moves to the right - Supply curve moves upward
Liabilities (owned) (Listed in decreasing order of liquidity)
1. Current - Accounts payable (bills unpaid to suppliers) Accrued taxes or taxes payable (owed, but not yet paid) -Accrued expenses (owed, but not yet paid) Deferred revenues (advanced payments) Notes payable (short-term loans) 2. Long term liabilities - Mortgage Loan
Reasons to go/stay at game rank
1. Interest in the sport 2. Time of game 3. Price of tickets 4. Opponent 5. Team record/ rank 6. Travel to/from game 7. Connection to team 8. Giveaway Items 9. Seat Location 10. TV Coverage 11. Wi-fi connection
5 tips of sports marketing
1. Know your product 2. Know your consumer 3. Know your market 4. Build team culture 5. Bring your passion
Top 10 Sports Brands:
1. Nike 2. ESPN 3. Adidas 4. Under Armour 5. Sky Sports 6. MLBAM 7. UFC 8. YES 9. Reebok 10. NESN
4 P's of the Marketing Mix
1. Product (what is sold) 2. Price (cost) 3. Place (distribution) 4. Promotion (advertising, personal selling, publicity, and public relations)
How Attendance Relates to Revenue
1. Teams will get as much ticket revenue as possible by setting prices in the inelastic region of the demand curve (could price tickets higher with higher demand) 2. Teams will forego some ticket revenue to increase other revenues(parking, concessions, merchandise)
Process of Fund Raising:
1. Worthy cause 2. Identify prospective donors 3. Connect donors with cause 4. Ask for and receive donations 5. Seek future donations
Assets (owned) (Listed in decreasing order of liquidity)
1.Current -Cash -Accounts receivable (owed by customers) -Inventory -Prepaid insurance 2. Fixed -Plants and equipment minus depreciation -Property
2 Ways of Sport Marketing:
1.The marketing of sport products and services directly to customers of sport 2. Marketing of other products or services with, using, or through sport
Between 2010-2024, CBS, TBS, TNT, and truTV are paying the NCAA $_______ ($776 million annually)
10.8 billion
Suppliers will sell ___ bats at $40, but only are willing to sell __ at $25
15,10
The NFL receives $______ from FOX, NBC, CBS, and ESPN for their rights to broadcast NFL games
29 billion
At 20$, fans are willing to purchase _ tickets; but, at $40, fans will only buy _ tickets
4,2
Jerry Jones paid $___ million of the cost of the new stadium, while the city of Arlington paid $350 million from voterapproved bonds to be retired through sales taxes, hotel occupancy taxes, and rental car taxes
750
Elastic demand (Ed>1)= .....
A given percentage change in price leads to a larger percentage change in quantity demanded (for example, a 10% increase in the price of a ticket causes a greater than 10% decrease in quantity purchased, resulting in a loss in revenue)
Inelastic Demand (Ed<1)=...
A given percentage change in price leads to a smaller percentage change in quality demanded (10% increase in ticket price causes a less than 10% decrease in quantity purchased; results in an increase in revenue)
Turn key event
A marketing company handles everything about a sporting even
Guarantee:
A payment made by the home team to a visiting team to compete in a game.
LEVELS OF SPONSORSHIP: Official
About 10% of title fee (3rd)
Process of identifying, measuring, and communicating financial data
Accounting
Private Funding Sources for Stadiums
Advertising Broadcasting rights fees Concessions sales Donations (college) Food and beverage-serving rights In-kind contributions Lease agreements Luxury suites Merchandise sales Naming rights Parking fees Personal seat licenses Premium (club) seating Premium restaurant rights Sponsorship packages
Market Research Looks at...
Age Gender Ethnicity Marital Status # of Children Education Occupation Income Expenditures
Baseball owner _____ ______ first emphasized fans came to the ballpark to be entertained
Bill Veeck
Phil Knight began _____ ________ ________ in 1964 (American extension of the Tiger brand of Asian shoes); became Nike in 1972
Blue Ribbon Sports
Assets equation
Assets=Liabilities+Equity
Cornerstone of Sport Marketing
BRANDING
A financial report of assets, liabilities, and equity as a specific date (used to show financial changes and ability to pay debts)
Balance Sheet
NCAA v. ______________ and University of Georgia Athletic Association
Board of Regents of University of Oklahoma
Distinctive name, logo, trademark, or design associated with and that adds value to a product or service
Brand
Describes the awareness of the unique, positive benefits and value associated with a brand
Brand Equity
Network pays a rights fee, pays all production costs, sells advertising, and keeps profits
Broadcasting Rights and Production
projected set of financials reflecting future plans and objectives used to make decisions about allocation of funds
Budget
These are Defenses against _______________
Claims of Negligence
Long term construction or renovation projects
Capital Budgets
________ _______governs any agreement (oral or written) between two or more parties
Contract law
a commitment to behave ethically and contribute to economic development and greater welfare of the community and society
Corporate Social Responsibility
____________, also an intentional tort, is a false statement published to a third party that holds the subject up to public ridicule and results in financial loss
Defamation
Relationship between the price and product and the amount of product consumers are willing to buy; quantity of goods or products purchased at different prices
Demand Curve
Supply Curve
Depicts how much product (such as sports equipment) suppliers are willing to sell at different prices (at higher prices, sellers are willing to supply or sell more)
Lowering the value of a tangible asset as it ages
Depreciation
Disadvantage of Corporation
Double taxation for C corporations, but not for S corporations
Electronic and print media such as _____ and ____ ______ sell print space and broadcasting time to advertisers to increase their revenues
ESPN, USA Today
How an expenditure, such as the 49ers new stadium in St. Clara, will affect a geographical region
Economic Impact
Study or explanation of the behavior of people relative to costs and benefits and study of how people deal with scarcity
Economics
If ABC Fitness Club, with its poor facilities and marginal programs, increases its annual membership fee, the number of renewals will likely decrease at a higher rate than the increase in revenue from the higher annual membership fee
Elastic Demand
If the Oakland Raiders increased their ticket prices by 10%, the ticket demand would likely fall more than 10% resulting in a loss of revenue
Elastic Demand
The percentage change in quantity demanded divided by the percentage change in price
Elasticity of Demand (Ed)
TRADEMARK LICENSING: Licensee
Entity granted permission to use a trademark under stipulations established by the licensor
Example of Marginal Utility
Excitement of attending your first NFL game vs. the 2nd, 3rd, etc.
TRADEMARK LICENSING: Royalty
Fee paid by a licensee to the licensor for use of a trademark
How funds are generated (revenues) and allocated (expenses)
Finance
Informs external users
Financial Accounting
increases budgets and provides funding for special needs, such as facilities
Fund Raising
A financial report of revenues and expenses for a specific time period (used to analyze profitability)
Income Statement
LEVELS OF SPONSORSHIP: Title
Highest level of investment and association
Arms Race in Intercollegiate Athletics Includes the escalation in coaches' salaries
Highest paid coach in 2014 at 7.3 million (Nick Saban)
Hard taxes
Income -Real estate -Personal property -General sales
If XYZ Fitness Club, with its excellent facilities and programs, increases the annual membership fee, the number of renewals will decrease some but this loss will be more than offset by increased revenues from the higher membership fee
Inelastic Demand
Since the Green Bay Packers sell out every game, if they increase season ticket prices by 10% annually, demand for tickets would likely drop less than 10% thus resulting in an increase in revenue
Inelastic Demand
Title IX Final Policy Interpretations ensures...
Interests and abilities of male and female students are equally effectively accommodated
Mark McCormack began _________ __________ ____________ with golfer Arnold Palmer in 1960; largest independent distributor of sport programming and live events
International Management Corporation (IMG)
Disadvantages of a Partnership
Joint personal unlimited liability
As you get more of a product, the marginal utility of each extra unit gets progressively lower; that is, each incremental unit adds less to total utility
Law of Diminishing Marginal Utility
Advantages of Corporations
Liability limited to corporate assets
TRADEMARK LICENSING: Exclusive License
License giving the licensee exclusive use of the trademark on specific products for a definite period of time
FINANCIAL
MANAGEMENT
Mass Marketing
MCDONALDS -Appeals to many types of customers through a uniform, broad based marketing program -Large number of products under one brand for many types of customers -One popular price range -All possible outlets -Mass media
________ or reckless disregard for the truth is required for defamation of a public figure
Malice
Informs internal users
Managerial Accounting
New Marketing and Sales funnel
Marketing: -Awareness - Intent -Consideration -Intent -Evaluation Sales: - Purchase
________ __________ is less from each subsequent time or experience, although some benefit is enjoyed with each
Margin Utility
Additional satisfaction or benefit from each next unit purchased; decisions are based on marginal costs vs. marginal benefits
Marginal Utility
Goes down for each unit of time (First 30 min= 8 units Next 10=2 units Next 10=1.5 units Next 10= 1 Unit Next 10= 3/4 unit Next 10= 1/2 unit Next 10= 1/4 unit)
Marginal Utility
To increase ________ __________, sport managers must add to the enjoyment or experience of fans (such as through video screens; pre game and half time entertainment; giveaways)
Marginal Utility
Price at which quantity demanded equals the quantity supplied
Market Equilibrium
An insufficient supply that does not meet the demand
Market Shortage
Excess supply, or more than is demanded
Market Surplus
Getting the right goods and services to the right people at the right place at the right time at the right price with the right communication and promotion
Marketing
Old Marketing and Sales funnel
Marketing: -Awareness -Interest Sales: -Consideration -Intent -Evaluation -Purchase
Interaction between buyers (their demand) and sellers (amount they will supply)
Markets
Only one firm or seller controls the market and sets the price
Monopoly
Only on buyer in a market
Monopsony
LEVELS OF SPONSORSHIP: Official Suppliers
Not linked by name with an event but provide goods and services
In 1995, the court found, after a highly publicized and lengthy criminal trial, ____________, the 1968 Heisman trophy winner at the University of Southern California and NFL All-Pro running back for the Buffalo Bills, not guilty of the murder of his ex-wife Nicole Brown Simpson and her friend Ronald Goldman
O. J. Simpson
Market Segmentation
OLD NAVY -Appeal to one specific consumer group through a highly specialized, but uniform, marketing program -One brand tailored to one group of customers -One price range tailored to one group of customers -Limited Outlets -Targeted Media
day-to-day financial activities - Line item, such as for uniforms, public relations, or office equipment - Program, such as for the team or marketing department
Operating budgets
The value of the next best alternative foregone or the value of actions not taken (an ongoing cost-benefit analysis)
Opportunity Cost
TRADEMARK LICENSING: Licensor
Owner of the trademark who authorizes its use through a licensing contract
Face to face interaction with potential purchasers
Personal Selling
Focuses on building and nurturing relationships with various groups through a marketing communications strategy that seeks to improve a team's image
Public Relations
Used to develop positive relationships with target audiences
Public Relations
Informational, non-paid messages
Publicity
Advantage of Sole Proprietorship
Revenues only taxed once
Advantages of Partnership
Revenues taxed only once
Labor Law
Rules and regulations governing labor and management (rights; privileges; duties; responsibilities)
ECONOMICS
SLIDES
Ambush Marketing
Seeks to benefit from the goodwill of an event without paying to become an official sponsor
LEVELS OF SPONSORSHIP: Presenting
Second level at about one quarter to one half of the investment and expected return
Describes an intangible service
Service Mark
Substitution effect:
Spending money on one purchase rather than on another purchase in the same economy.
activities designed to meet the needs and wants of sport customers through exchange processes in one of two ways
Sport Marketing
________________ Negotiate with Networks or Cable Companies to Broadcast Events
Sport rights holders
Agency Law is Governed (somewhat) by the ________
Sports Agent Responsibility Act of 2004 and 2000 Uniform Athlete Agent Act
SWOT:
Strengths, Weaknesses, Opportunities and Threats.
Relationship between the price of a product and the amount of product suppliers are willing to sell; how much suppliers will trade or sell at various prices
Supply Curve
The ________________________ describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand).
Theory of Supply and Demand
Allocated Revenues:
Those brought in by state support, student fees, and institutional support.
a private or civil wrong or injury, other than breach of contract, suffered due to another person's conduct
Tort
Sum of all marginal utilities
Total Utility
________ __________, such as attending a sports event or playing golf, increases over time
Total Utility
Word, name or symbol that distinguishes a product
Trademark
No person in the United States shall, on the basis of sex, be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any education program or activity receiving federal financial assistance.
True
Disadvantages of Sole Proprietorship
Unlimited personal liability
Opportunity Cost:
Value of the next best alternative foregone.
Marketing Research Questions Why?
Why do customers purchase tickets or products?
In criminal cases, the jury uses "beyond a reasonable doubt" standard in making judgment; this may involve ____________
a jail sentence because actions are crimes against legal statutes
Offer —
a conditional promise
Vicarious liability means ...
a plaintiff can sue a supervisor for action of a subordinate
Capacity —
ability to understand one's acts (minors cannot enter into contracts)
Acceptance —
accepted by party to whom the offer was offered
Activation or leveraging occurs
after sponsorship contracts are signed as companies commit between 1.7 and 3 times more to increase the effectiveness of the sponsorship, such as through buying advertising time during media broadcasts and interactive games for fans
Risk management includes planning preventative measures to ensure safety of _________________
all concerned as well as planning for legal problems or crises
Utility — amount of satisfaction or benefit
amount of satisfaction or benefit
Consideration —
an exchange of value, such as money
A demand curve will shift right when there is ________________________
an increase in demand and left when there is a decrease in demand
Elimination of a men's team is...
an institutional decision and not required by Title IX even though when a men's team is cut, compliance with Title IX often is cited as cause rather than budget cuts to reduce expenses
Trespasser is ....
an uninvited person who infringes on private property
Sports bribery —
antiracketeering or "fixing a game" violates criminal law
Comparative negligence —
apportionment of damages between the negligent individuals (plaintiff and defendant)
Financing Construction and Paying Off Debt: Revenue Bonds
are associated with projected revenues from the facility
Independent contractors
assume personal liability, so they cannot sue
failure to do this ^ is a...
breach of warranty
Financing Construction and Paying Off Debt: General obligation bonds
can only be issued by governments and are repaid using taxes
Employees _______ sue when action leading to the injury was not within the scope of their employment
cannot
Minors (can/cannot) sign away their rights to sue, nor can their parents sign away a child's rights; parents can sign away their rights to sue on behalf of an injured child
cannot
Sovereign immunity —
cannot sue the state
In a little-known _______ trial in 1997, the court found Simpson liable for the wrongful death of Goldman and the battery of Brown and awarded a judgment of $33.5 million to the families of Brown and Goldman.
civil
The principal (athlete) must _______________
comply with the contract, provide compensation, and pay sports agent's expenses when acting on his behalf
In 2007 Simpson and three other men entered a hotel room and took sports memorabilia Simpson claimed was stolen. Simpson was convicted in a _______ trial of kidnapping and robbery and sentenced to a minimum of nine years in prison.
criminal
Contributory negligence —
damages are all or none if the injured person was responsible for some of the negligence
Agency law:
describes a consensual fiduciary (i.e., financial) relationship between two people with one person (sports agent) acting on behalf and on the authority of the other (principal or athlete)
There must have been a continuing practice of program expansion in response to....
developing interests and abilities of the under-represented sex
Title IX (does/does not) require an equal number of teams by gender but educational opportunity in all programs
does not
Actual notice —
eliminate hazards whenever possible to prevent use of unsafe area or inform supervisor of the necessity of having hazard repaired or removed
Opportunities and threats are considered _____________
external threats.
Breach of contract —
failure to perform a duty imposed under a contract
Punitive damages —
financial awards made by the court as a deterrent to future misdeeds considered intolerable to society
Sports agent must _____________
follow directions of the principal, demonstrate loyalty by keeping the principal informed, and provide reasonable accounting of actions taken on behalf of the principal
When prices are lower, fans will purchase _______ tickets
more
Warranty —
guarantee of minimum quality acceptable in the trade even though unwritten
Licensee is a person who...
has the owner's consent to be on the property, but does not have a business purpose for being there
Constructive notice —
hazards or potentially dangerous situations that a reasonable and prudent person should have noticed, but failed to notice
Battery:
intentional contact that is harmful or offensive and not permitted
Roger Clemens throwing the splintered bat at Mike Piazza as he ran to first base could be considered an
intentional tort
Gross negligence —
intentionally meaning to engage in an action, although did not mean to cause harm
Strengths and weaknesses are considered ___________
internal threats
Invitee is an....
invited visitor providing financial or business gain for landowner
Waiver
is NOT the same as an agreement to participate; a waiver protects against a claim of negligence; does not provide protection from gross negligence or an intentional tort
A release of liability...
is signed after an injury has occurred (usually for a financial settlement, a person signs away the right to sue in the future)
Use only a _______ carrier or insured vehicle when transporting athletes
licensed
Title IX Final Policy Interpretations Programs areas so that...
males and females receive equivalent treatment, benefits, and opportunities, such as equipment and supplies and practice and competitive facilities
An institution must show that the interests and abilities of the...
members of the underrepresented sex have been fully and effectively accommodated
NCAA was ruled a __________; NCAA could no longer control televising of football games
monopoly
Title IX Final Policy Interpretations Financial assistance (grants-in-aid)-
must be available on a substantially proportional basis
Assumption of risk through voluntary participation —
must know, understand, and appreciate risks (this is not a waiver)
Duty of Care Owned: Invitee -
must protect from harm by keeping property in a reasonably safe condition through inspection and elimination of dangers
Duty of Care Owned: Licensee -
must warn of known dangerous conditions that have not been eliminated
A team's revenue may be highest when the stadium arena is __________
not sold out
Financing Construction and Paying Off Debt Bonds
provide funds to borrower with promise to repay lender with interest
Compensatory damages —
recompenses for medical bills, lost wages, or other actual expenses due to defendant's wrongdoing and associated with the injury
Precision —
specificity of terms
Slander —
spoken publication of defamatory matter
Participation opportunities are...
substantially proportionate to the undergraduate enrollment
Economic impact statements often fail to properly differentiate between _________________
substitute spending and new spending.
Equal employment act 1972 created
the Equal Employment Opportunity Commission
"More than 24,000 defective ___________ were sold at Sports Authority stores throughout the US during the last 7 years." (2012)
trampolines
Legality —
underlying bargain must be legal
Battery —
unlawful application of force to a person resulting in bodily injury
Reckless misconduct —
unreasonable risk of physical harm due to intentional action not meant to do harm
invasion of privacy
unwarranted intrusions into private areas or disclosure of private facts
Intentional Torts
voluntary acts with realization of the consequences and understanding of results of the acts
Libel —
written publication of defamatory matter
