Sports events business managers handle all the business aspects of various sporting events, including those of the National Basketball Association (NBA) and National Football League (NFL). If you are a sports enthusiast with a strong business acumen, this is a career that could suit your perfectly. Read on to learn more about the job and what it takes to pursue it.
1. What Do Sport Event Business Managers Do?
- Securing sponsorships for various sports events – This involves holding several meetings with potential sponsors
- Participating in the selection of venue for sports events (the selected venue should be able to improve the profitability of the event)
- Controlling the budget allocated to a sports events
- Working with event marketers to ensure the event is adequately publicized
- Maintaining positive business relationships with event suppliers and contractors
- Preparing reports detailing the financial performance of concluded sports events
Ultimately, sports event business managers are responsible for the profitability of sports events.
2. Work Environment
Sports event managers usually work from 9am to 5pm, Monday through Friday. Because events may be held in the evenings and weekends, be prepared to put in longer working hours.
Although these managers do the planning in an office environment, it is common to find them present in stadiums or other venues where the events are to be held. The wok involves extensive travel, as they have to meet with potential sponsors in various cities.
According to Indeed, sports event business managers in the US earn an average annual salary of $41,000.
4. Entry Requirements
To become a sports event business manager, you need to earn a bachelor’s degree in event, sport and entertainment management, or business administration with a major in sport and event management. Regardless of the degree title, you will study topics such as:
- Principles of sports management
- Operational event planning
- Finance in sports
- Legislation and contract law in sports
- Sport marketing
- Issues in sports and event management
Some of the top institutions offering relevant undergraduate degree in this field include:
- Pennsylvania College of Technology, Pennsylvania
- University of Colorado Denver, Colorado
- Shorter University, Georgia
Since professional experience is an important employment requirement for this job, you will need to begin in a junior position such as sports event business analyst and work your way up.
5. Important Qualities
To succeed as a sport event business manager, you need:
• Solid business skills
• Strong planning and coordinating skills
• Strong decision-making skills
• Strong analytical and creative skills to develop effective event promotional strategies
• Leadership skills
• Skills in personnel management
• Skills in budget management
• Negotiation skills
• Effective collaboration and teamwork skills
• Clear communication skills
• An interest in sporting activities
• Time management skills
• The ability to multitask
• Passion for delivering memorable (and profitable) sports events
6. Career Development
After getting hired as a sports event business manager, undertake the following activities to improve your competence and advancement prospects:
- Obtain the Certified Sports Event Executive from the National Association of Sports Commissions. You must first secure membership in the association in order to qualify for certification. Membership benefits include access to research publications and webinars among other professional development resources.
- Pursue a master degree in sports venue and event management, like the one offered at Syracuse University.
7. Job Opportunities
The employers of sports event business managers include:
- Sports event management companies
- Owners of sports venues
- Sports clubs
With vast experience and advanced credentials, you can advanced to become the event manager of massive sports associations like the NFL. You can also move into self-employment and establish your own sports event management company.
Sports events are gaining popularity by the day. Besides the mainstream sporting events, profit and non-profit organizations often organize sports events to promote charitable causes or healthy living styles. In addition, the Bureau of Labor Statics also forecasts a faster-than-average job growth (13 percent) for business and financial professionals.
So if you are a sports fanatic who is also good at making money, this may be the right career for you.