Kenneth Cortsen’s Insights
This blog strives to provide insights and trends about the business of sports. Browse the site and gain a deeper understanding of the passionate texture of the convergence between sports and business. That is YOUR way to get ahead in the game!
Usain Bolt – the entertaining business of being ’the best’August 22, 2016 3:47 pm
Usain Bolt, the fastest man on Earth[*], symbolizes the meaning of the Olympic motto and adds to bringing the Olympic substance to life. In its recent Olympic Charter, which was put in play in August 2015, the International Olympic Committee (IOC) writes that “the Olympic motto ‘Citius – Altius – Fortius’ expresses the aspirations of the Olympic movement.” The motto is Latin for ‘Faster – Higher – Stronger’ and it reflects the core principles of Olympism in the sense that it requires the development of humankind in a way that combines bodily and mental actions on the foundation of full determination, grace and joy.
Sponsorship, branding and commercialization of the 2016 Rio OlympicsAugust 6, 2016 4:18 am
The Olympic Games draw the attention of sport fans worldwide and now corporate brands and other commercial stakeholders tune in to monetize on Olympic-related marketing. These fans are enthusiastic in terms of following their favorite sports or sport stars. At the same time, this mega-event works as an opportunity to display the patriotic colors of your flag while enjoying the passionate context of sports. However, the modern Olympic Games also portray a visible billboard of different corporate brand logos on a global scale.
Mixed Martial Arts: A breath of fresh air in the business of sports.June 30, 2016 4:05 am
Football takes first place in the sports industry in terms of popularity and is also a potent platform when it comes to generating commercial revenues. However, other sports (and their properties) are also developing methods and strategies to secure commercial success. Recently, Mixed Martial Arts (MMA) has experienced intensive commercial growth when it comes to eyeballs and money. The sport appeals to people’s competitive nature and quest for brutal drama. That seems like a good match with different fan segments in a time in which sports consumption contains the need to see athletes push the limits of the human body in new extreme editions.
Digital opportunities lead to a new future for the business of sports.May 18, 2016 11:06 pm
The business of sports is an industry, which offers diverse opportunities in terms of commercial involvement and business development. From sponsorship displays on game days to huge activation platforms and campaigns, there are many opportunities to bring players, coaches, fans and other stakeholders together. The huge broadcasting deal regarding the Premier League in English football (soccer) illustrates the commercial appeal that the sports world has on other industries.
Scandals and the business of sports: implications for new approaches in the sports industry.May 9, 2016 2:40 pm
Sports business expert, Patrick Nally: “Where there is money, there is greed….”
Harvard Business School Professor Stephen Greyser: “For rights holders and commercial stakeholders like sponsors, it is a matter of being where the public’s heads and wallets are in 2016….”
In the light of the many scandals that influence the business of sports, I have set my sensor on figuring out whether or not new approaches for sports business practices would be beneficial. As CEO of West Nally and President of the International Federation of Poker, Patrick Nally says “where there is money, there is greed”. This expression may help to explain some of the numerous sports scandals in the past years from the recent ones involving Maria Sharapova’s meldonium consumption, the FIFA corruption scandal, Lionel Messi’s tax fraud accusations, FC Barcelona’s transfer ban due to violation of transfer market rules concerning minors and Sunderland FC player (now former) Adam Johnson’s child sex case to other well-known scandals like NFL quarterback Michael Vick’s role in dogfighting events, Michael Phelps’s marijuana incident, Ryan Giggs’ long-term affair with his brother’s wife and Oscar Pistorius’ murder case (some of the examples are not involving the greed parameter). These scandals threaten the integrity of the sports industry. Patrick Nally adds to this by stating that “the sports marketing industry is becoming painted by implications of the problems with FIFA, the IAAF and now the Panama Papers. It puts the whole sports marketing industry and the use of sports by companies and thus the use of athletes as part of marketing strategies in a negative situation. In turn, this debases the whole coinage and cheapens the trust of the fans, which is the main reason behind sports marketing.”