The business structure of Professional Sports
Professional sports leagues are organized in a number of ways. Two of the most notable types are the pones developed in Europe, identified by a tiered structure using relegation as well as promoting in determining participation in a ranking of divisions or leagues. The other is that of North American origin characterized by its use of permits, closed memberships, and small leagues (Troilo et al.,2016). Both systems remain the most ordinary in their areas of foundation, even though they are utilized across the globe. This paper will take a look at the concerns and factors that should have been considered regarding the PETCO Park project as well as a conceptual view from the bible.
The real financial impact of the stadium raising questions regarding the San Diego City officials is one of the concerns aired out. The opponents were not interested in the use of the public funds in constructions of the sports stadium but rather the fact that San Diego was deceiving citizens by failing to represent their constituent’s interests in onset and complete manner (Agha et al.,2016). Some of the negotiations between the City council were not going hand in hand, with a more significant number of the Padre representatives triumphing over the local politicians. As a result, the San Diego officials surrendered essential terms of the deal and gave away a lot than required.
Proposition C was another concern in downtown development. Even though the voters vaguely understood that a correct vote on the proposition meant a new stadium for the padre that is publicly funded, it was not easy to believe that a lot of the voters were aware of the deals aired in the MOU specifics. Although there were specifics on the plan for the new Padre ballpark in proposition C, the MOU was available for the voters to go through. However, making it accessible was not the same as creating awareness for the voters regarding the specific terms of the deal.
The factors to consider when financing the PETCO park should have included the amount of money required. The sources would have used a bank overdraft instead of having to go and borrow money from private lenders that were more costly in the undertaking of the water as well as sewer projects. Notably, they should have considered the length of the time that which the money was required. Because the plan for the park would take a long time to finish, it would have been prudent to get long term sources of finances, including debentures, long term loans as well as shares. Additionally, the public should not have given a lot of funds for the project because compared to the ratio of other development projects, it might have been a bad or wrong investment (Evans2017).
According to the scripture reading in 1 Peter 2: 13-4 “Submit yourselves for the Lord’s sake to every human authority: whether to the emperor, as the supreme power “This does not only refer to ordinance of institutions that are divine that we are supposed to submit to but that the authority comes from God himself. The San Diego officials should not have lied about the pension schemes or cover up the poor state of the city’s finances in fear of just the SEC. They should have feared the highest authority, that is God (https://www.biblegateway.com/passage/?search=1+Peter+2%3A13-4%3A19&version=NIV).
References
Agha, N., & Rascher, D. A. (2016). An explanation of economic impact: Why positive impacts can exist for smaller sports. Sport, Business and Management: An International Journal.
Evans, J. M. (2017). We Have Come Full Circle: Where Sports Franchises Derive Their Revenue. ENT. & SPORTS LAW., Summer 2017, 33-4 at, 12.
https://www.biblegateway.com/passage/?search=1+Peter+2%3A13-4%3A19&version=NIV
Troilo, M., Bouchet, A., Urban, T. L., & Sutton, W. A. (2016). Perception, reality, and the adoption of business analytics: Evidence from North American professional sport organizations. Omega, 59, 72-83.