The Economics Of Motorsports

This book, the first study of its kind, examines the economics behind motorsports, in particular Formula One. Chapters discuss the costs involved in Formula racing and how they are borne by teams, promoters and racers. The book also looks at how society, the public and the private sectors stand to benefit economically from the motorsport industry. Other issues like the economics of TV rights, sponsorship and sustainability are also addressed, again for the first time in an economics book. Moving beyond the economics of what happens off the track, the book also undertakes a serious examination of what goes in to making a winning team and what having a winning racer can do for a team’s fortunes. Mourão’s highly relevant and contemporary book also looks at how motorsport teams confront the challenges of the modern sporting world, including the changing dynamics of sports media and considers the future of Formula 1 as motorsports evolve.

This book takes stock of the position of motorsport in the 21st century and considers how it will continue to influence sport business, politics, and society in the future. Presenting a set of thematic essays and multi-disciplinary case studies, the book demonstrates that motorsport continues to play a significant role in relationships between the automotive industry, nationalism, industrialisation, and capitalism as well as motorsports’ position as a feature of contemporary popular culture. Examining issues such as event management and legacy, environmental sustainability and ‘greenwashing’, diversity and inclusion, the rise of gaming and esports, and the use of sport as political soft power around the world across multiple motorsport disciplines, the book shines fascinating new light on this innovative but sometimes problematic industry. This is essential reading for all advanced students, researchers, managers, strategists, sponsors, and other stakeholders working at the nexus of motorsport, business, politics, and culture.

This book provides the definitive economic study of the global motorsport industry. Drawing on a decade of research, and interviews with top industry executives and international commentators, the global grid of motorsport is analyzed and the world's national motorsport industries benchmarked. Motorsport Going Global concludes on scenarios for the global industry as it enters a new era of market growth and global opportunity.

This book examines competitive balance and outcome uncertainty from multiple perspectives. Chapters address the topic in different sports in a range of countries, to help to understand its significance. It provides readers with important new insights into previously unexplored dimensions as well as a rich context for better understanding why fans, teams, and leagues value competitive balance. The book challenges readers to think about the topic in a broad and rigorous way, and in some cases to question widely held beliefs about how outcome uncertainty motivates competitive balance, and how sports fans actually view competitive balance.

This book explores the history and politics of motor racing, one of the most popular and lucrative elements in the international sport industry. Written by a group of international scholars and motor racing specialists it discusses the sport’s origins, the relationship of motor racing to nation building and modernity (noting its links to fascism and dictatorship), the links between motor racing and the automobile industry, motor racing and the politics both of gender and of race, motor racing, the media and postmodernity, and motor racing, the spatial and globalization. This book speaks to scholars in history, politics, sport studies, the sociology of sport, sport management and cultural studies, along with the many lay readers who are interested in the relationship between motor sport and society.

Stephen Shmanske and Leo Kahane have brought together nearly all of the important authors in the quickly growing field of Sports Economics to contribute chapters to this two-volume set. The result is truly informative in its content and path breaking in its importance to the field. Anyone contemplating research in the field of sports economics will find the works in these volumes to provide both ample background in subject after subject and numerous suggestions for future avenues of research. The editors have recognized two ways that economics and sports interact. First, economic analysis has helped everyone understand many of the peculiar institutions in sports. And second, quality data about individual productivity, salaries, career histories, teamwork, and managerial behavior has helped economists study topics as varied as the economics of discrimination, salary dispersion, and antitrust policy. These two themes of economics helping sports and sports helping economics provide the organizational structure to the two-volume set. The reader will find that sports economists employ or comment on practically every field in economics. Labor Economics comes into play in the areas of salary formation, salary dispersion, and discrimination. Baseballs history and the NCAA are studied with Industrial Organization and Antitrust. Public Finance and Contingent Value Modeling come into play in the study of stadium finance and franchise location. The Efficient Market Hypothesis is examined with data from gambling markets. Macroeconomic effects are studied with data from mega events like the Super Bowl, The World Cup, and the Olympics. The limits of Econometrics are pushed and illustrated with superb data in many of the papers herein. Topics in Applied microeconomics like demand estimation and price discrimination are also covered in several of the included papers. Game Theory, measurement of production functions, and measurement of managerial efficiency all come into play. Talented authors in each of these fields have made contributions to these volumes. The volumes are also rich from the point of view of the sports fan. Every major team sport is covered, and many interesting comparisons can be made especially between the North American League organization and the European-style promotion and relegation leagues. Golf, NASCAR, College athletics, Womens sports, the Olympics, and even bowling are represented in these pages. There is literally something for everyone.

Governance is at the centre of the work of all sport organizations, from small sport clubs to international sport federations. This book explores sport governance in today’s globalised marketplace. It adopts a broad, modern definition of ‘governance’ that includes the operational process of organizing resources and the implementation of standing policies and plans, as well as regulation, direction, control and evaluation. The book presents a series of cutting-edge case studies that shine important new light on key themes in contemporary sport management, including sustainability, human resource management, cross-cultural management and labour markets, across a wide range of sporting contexts, from Formula One and the Commonwealth Games to the NCAA. Bringing together researchers and practitioners from five continents, it represents an important platform for the international exchange of ideas, best practices, and scholarly enquiry. This is fascinating reading for any student, researcher or practitioner with an interest in sport business and management, event management or international business.

Shmanske and Kahane have organized over 50 essays from prominent Sports Economists into two volumes around two related themes. This second volume explains how sports helps economics via quality data used to test a variety of economic theories.