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Sports such as soccer enjoy a huge fan base and this has seen a significant rise in the financial values of sponsoring sports. Sponsorship activities…
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Running Head: Managing Sport Sponsorship Programs: Lessons from a Critical Assessment of English Soccer. Department Subject
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Authors of the article critically examine sports sponsorship programs as well as the lessons particularly from soccer in England. Sports such as soccer enjoy a huge fan base and this has seen a significant rise in the financial values of sponsoring sports. Sponsorship activities in sport are on the upward trend and globally they are projected to rich $25 billion in the near future. Corporates want to associate with sports especially soccer for publicity reasons and this has seen a rise in shirt sponsorship contracts which involve corporates paying some fee for their logos to be printed on shirts as well as advertising on the fields of play.
A rather shortsighted tendency exists where clubs look at the contracts as an easy source of revenue while clubs also go into the contracts as a tactic for marketing communication. The objective from both parties ought to be building relationships, acquisition and development of resources and strategy for networking. But many corporates as well as clubs have continued to view the sponsorship contracts as short-term hence failing to strategically evaluate the kind of contracts they go into. Corporates in most cases have tendencies of hurrying into contracts with clubs without proper negotiations, hence failing develop and manage the relationships.
There is therefore a need to proactively monitor the contracts on the side of sponsors especially, negotiate properly, enter the contracts for reasons more than just communication, make rational decisions on the same and ultimately enter into relationships that add value. With growth in value of sponsorship programs not being questionable organizations must think broadly and consider the contracts as strategy, networking and relationship building avenues. There is a need to leave the short-term perspective of the transactions and embrace a long-term value approach in signing the sponsorship contracts.
References.
1. Chadwick, S., & Thwaites, D. (2005). Managing Sport Sponsorship Programs: Lessons from a Critical Assessment of English Soccer. Journal Of Advertising Research, 45(3), 328-338. Read More
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