SPTE 201

Ch1.
Name recognition is good for marketing business.
John Nash:
Former GM of 76ers, Nets Trail blazers. mainly Philly based area teams.
“Players and coaches are responsible for putting the “best product” on the
floor or field.
“Its is the front office staff’s job to ensure that all of the duties leading up to
and throughout each game are handled smoothly.
“The world of sport Management has changed drastically in my 40 years…
In today’s market, the competition for front-office positions is as fierce as
the battles being waged for a team roster spot or a coaching slot.
o Can you Play
o Can you coach
o Can you sale
How to separate from others (john Nash perspective)
Old way
 Hard work
 Learn on the Job
New Way
 Expected to arrive with the necessary tools to make an immediate
contribution in the front office department to which you are assigned.

-The old way works for 1st internship, new way for last internship, 1st
internship usually leads to a job with the company that you intern
with.

Sell yourself by convincing them you understand the job, can begin
contributing from Day 1, and you are the best candidate for the job…

Development sales- another name for fundraising

AD- job to generate revenue through tickets
-If AD is unable to do this next person in line is person in development sales

Integration of Theory and Practice:

Revolutionist Theory:
“Those who can do; those who can’t teach”
If there is a problem in conditions, stop talking about it do something about
it.
“Have a plan of what you want to do and work with/do things that will get
you to your goal.”

The Family Business

Pg.15
Sports Business vs. Business of sports (WE ARE BUSINESS OF SPORTS)

Ex. USC Football and Basketball Games

Motivation Scale for Sport Consumption
Scale for Motivations of Sport Consumption
 Aesthetics (atmosphere)
 Escape
 Vicarious Achievement- achieving through others success
 Eustress (Drama)
 Team Identification (team, city ext.)
 Favorite Sport (type, and/level of sport)
 Role Model
 Sport Fan
 Socialize (family, friends, etc.)

Top 3 reason kids go to USC Football games

1. Sport Fan
2. Social
3. Team Attachment

Top 3 reasons kids go to USC Basketball Games

1. Sport Fan
2. Drama
3. University Attachment
BASS
Reason why people watch Bass fishing- acquisition of knowledge
How they get people to come watch:
 Pre-event promotional planning
 Event set-up (displays)
 Fantasy Fishing

3 ways Metadiscrete Experiential Learning is brought to life at USC

 1. Practicum and internship requirement
2. Faculty research and in-class project
3. Faculty and Adjuncts
*65 out 100 jobs have Marketing in the name

*Its not who you know, or what you know, it’s who knows you*

2 Dimensions of Sport
Time:
Time -the type of company you work for
-Property
-Sponsors (70-85% of revenue comes from television)
-Broadcast rights holders and media
-Service Providers

Space:
-Local
- Regional
-National
-International

What’s in it for me?

How to get a job:
1. Get experience when you are here (build the resume)
2. Network
3. Chose an area of expertise

Ch.3

4 primary sources of revenue

 Gate revenues
 Media rights
 Sponsorship
 Merchandising
Revenue increases by about $70 billion
Estimated Size of the Entire Sports Industry, US- $472 billion
 Commissioner of Sports- responsible for placing bids on events, to
get people to come and spend their money.
  Operating income- an accounting figure that measures the amount
of profit realized from a business’s operations, after deducting
operating expenses such as cost of goods sold, wages and
depreciation
Dallas Cowboys current value -4.5 billion dollars

*Bonus Question- What did the nickname styles come from?

Teen wolf 1985 version w/ Michael J Fox

*Least profitable team in the NFL- Buffalo Bills made $26 million

DMA (demographic marketing area)- extends as far as your local

television station, based off of the amount of people who live in the area
and who watch TV.
USC total revenue $113 million total expenses is $107 million

Television:
How many people live in the US
2016: 322,762,000
Most watch TV Program watched in 2015
1. Superbowl: 115,204,000 viewers 36%

Ch.4 Global Sport:

International Sport:

1. Living in an information age where technology has changed the

game.
2. The World is Flat by Thomas Friedman (we became a better
economy because we take an give ideas to and from different
countries)
o When was the firs NFL Game held outside US:
- 1926
o Has an NFL team ever played a CFL team?
- 1950
o When was the firs NFL game held in England
- -1983
o When was the first NFL game held in Mexico
- 2005
Complex Connectivity:
- Modern life is made up of an ever-densening network of global
connections and interdependencies
- As a result, cultures and people who were once so detached are
now incredibly connected and dependent upon each other

3 reasons for global homogenization occurring:

1. Free market economies
2. Global Corporate structures
3. A consumer capitalist culture

 Sport is at the forefront of global heterogenization as teams have a

distinct local appeal.

Ch.2
Sociocultural Aspects of Sport:
Blending of:
Sociology- study of the organization of people within a society and their
social relationships
 Study of social behavior…. How we interact with each other
Culture- refers to the way in which life is created and organized by people
within a particular society

What are the social issues in today’s society?

o Globally
- Gender equality and empower women, improve maternal health,
reduce child morality, poverty& hunger, disease control,
education, natural resources, global partnership and development
o Domestically (U.S)
- Gallup Poll (legitimate market company)
1.) Immigration,
2.) Minimum wage,
3.) Energy and environment,
4.) Invest in infrastructure,
5.) Healthcare,
6.) Job market/foreign trade,
7.) Anti-terrorism/surveillance,
8.) Gun violence,
9.) Retirement savings,
 10.) Drone laws

Twitter-sphere
1.) Immigration
2.) Environment and climate change
3.) Healthcare
4.) Unemployment
5.) Education
6.) Terrorism/ foreign relations
7.) Obesity
8.) Gender equality
9.) Racism
10.) Liberty vs. Gov’t control

*Conflicts are solved through conversation

6 Big Topics in Sports:

1.) Should college athletes be paid

2.) Redskins name (racism)
3.) Concussion
4.) Steroids and drug enhancing drugs
5.) Participation trophies
6.) Transgender Athletes

*University of South Carolina is the college research institution for the

NCAA. (GAP Report)

Historically
o Jock Capitalism- corporatized, commercial sport as cultural
hegemony
o Hegemony- leadership or dominance over others
o Cultural Hegemony- a culturally diverse society can be ruled or
dominated by one of its social classes (dominance of one group
over another
o Jock- athletes
Average NFL player 1.9 million dollars a year
Average teacher salary &56,383 per year
Under Jock capitalism we have a system of “meritocracy”
 Meritocracy- in sports, participants are judged on their athletic
ability
o In the business of sports, the more you provide, the more
you get…

Functionalism or Functionalist Theory:

 A sociological theory in which society is viewed as an organized
system of interrelated parts held together by shared values and
social processes that minimizes differences and promote consensus
among people.

*The reason why parents allow coaches to berate kids during sports is
because it teaches them discipline.

Applying Theory to Practice: Unsporting behaviors

-Historically these behaviors have been deemed unsporting and criticized by
most coaches, media and fans

Conflict Theory:
o A sociological theory emphasizing social and political
inequalities and the resulting economic and power
differentials; a conflict theory analysis focuses on the
inherent and endemic conflicts that arise from economic
disparities.
*There is no bargaining power for NCAA athletes- (more money means
more power/more bargaining power)
Golden Rule- The person with the gold rules
 Racism arguments
 Two ways to look at discrimination:
1.) Direct discrimination: preferential treatment for your race over other
races.
- Differential treatment because of your race…
- “But for” statement…
2.) Disparate Impact- the rules, while applied fairly to all people, have
a disproportionate impact on a particular race.
Ex.)
- NFL and NBA: Rules for draft eligibility
- Baseball no rules for draft
10 Intentional Torts (Only talking about 4):

1.) Assault and Battery

Assault- threat of harm or offensive contact (ex.) putting finger in face and
threating someone
-Any action that arouses reasonable apprehension of imminent harm
-Contact is not necessary. Mind
-Words alone are generally not enough to constitute assault
-Future threats don’t count
-Positions of authority matter
Battery- unauthorized AND harmful or offensive contact that causes injury
-Must have injury
-Contact does not have to be direct to be battery
-Must be unauthorized
-Transferred intent Doctrine

2.) False Imprisonment

The intentional confinement or restraint of another person without authority
or justification for an appreciable amount of time
-Confinement physical or mental freedom of movement
- A partial obstruction is not considered confinement (standing in front of
one door but another is opened)
-If escape is possible but involves an unreasonable risk, confinement has
occurred (3rd story window)
Appreciable time: 3 minutes

False Imprisonment in Sports?

Shoplifting laws: Merchant protection statues or shopkeeper’s privilege
Can detain if:
1.) Reasonable grounds for suspicion
2.) Detainment is for a reasonable period of time
3.) Investigations are conducted in a reasonable manner

3.) Defamation of Character: false statements made about a person

Legal requirements:
1.) Defendant makes an untrue statement of Fact about a person
2.) The statement was intentionally or accidently published
* Published means someone else heard it
4.) Libel and Slander

Libel: written
Slander: oral

With public figures, you must prove actual malice

Product Liability:
-The liability of manufacturers, sellers, and others for the injuries caused by
defective products
5 Types of product liability: (Only going to talk about 3)
 Manufacturing Defect
 Design defects
 Failure to warn

Manufacturing Defect: a defect that occurs when a manufacturer fails to:

-Properly assemble a product
-Properly test a product OR
-Adequately check the quality of a product

Generally a single product

Ex.) Keith Jones, Plaintiff v. Staubli Motor Sport

Design Defect: a defect that occurs when a product is improperly designed

-All of the products are defective because of the design
Legal test:
1.) Product was defectively designed
2.) The design defect made the product “unreasonably dangerous”
3.) The design defect caused the injury

Unreasonably Dangerous 3 conditions must be met

1.) The manufacturer knew or should have known about the dangerous
conditions
2.) The product “failed to function” as expected
3.) There was a feasible design alternative
Failure to Warn: A defect that occurs when a manufacturer does not pace a
warning on the packaging of products that could cause injury if the danger is
unknown.

Unintentional Torts:
Negligence is a doctrine that says:
 A person is liable for harm that is the foreseeable consequence of his
or her action
 Standard: “reasonable person” for foreseeable

4 Elements:
 Duty of care to the plaintiff
 Defendant breached duty of care
 The plaintiff suffered injury
 Defendants negligent act was the “cause” of the injury

Duty of Care: the obligation people owe each other not to cause any
unreasonable harm or risk of harm
- How an objective, careful, and conscientious person would have
acted in the same circumstances
- The standard changes based on a person’s “particular expertise”

Breach of the Duty of Care: a failure to exercise care or to act as a

reasonable person would act.

Injury: personal injury or damage to property

Causation: the ability of one variable to affect another.

- The defendants “Breach of Duty” in fact CAUSED the injury.
- Standard is: Reasonably foreseeable…
- “But For” Test: But for the defendant’s actions, the injury would
not have occurred
Proximate Cause:
- A pint along a chain of events caused by a negligent party
after which this party is no longer legally responsible for the
consequences of his or her action.
Defenses of Negligence:

1.) Duty of care was not breached: defendant acted in a reasonable manner.
2.) Injury was not foreseeable
3.) Superseding or Intervening Event: A defendant is only liable for
foreseeable events and not any superseding or intervening events.
4.) Contributory Negligence: if the plaintiff’s actions in any way contributed
to the injury, they cannot recover from the defendant.
5.) Comparative negligence: If the plaintiff’s actions contributed to the
injury, damages are apportioned according to fault.
6.) Assumption of the Risk: a defendant is not liable if the plaintiff
knowingly and voluntarily enters into or participates in a risky activity that
results in injury.
-Waivers
-Inherent to the Game Exception

Duty of Care- Premises Liability

The of care owed depends upon the “status of the guest
4 Types of guest
1.) Invitee
2.) Licensee
3.) Trespasser
4.) Recreational user

Invitee: someone who has paid a fee or who can be expected to pay fee in
the future
-They are owed the highest duty of care: duty to
1.) Inspect the premises
2.) Provide a safe environment
3.) And to reasonably foresee dangers that could arise

Extra Credit Question: Is South Carolina a Contributory or Comparative

State when it comes to negligence?
Comparative state

Ch. 6
Sports Contracts:
 Player contracts- Employment contracts
 Reserve Clause in MLB- reserves players rights with the team for 1
year after contract expires

Marketing contracts, vendor contract, suit contracts, tickets, season

tickets, licensing are negotiated by the marketing people.

 Is a ticket a contract
-Technically no, but technically yes…
- A ticket is a “revocable license”
 A revocable license provides the license holder (“licensee”)
with a limited bundle of rights
- Right to attend the game, sit in the assigned seat, and use the
stadium facilities made available to the public.
- These rights can be revoked by the team (“licensor”) at
ANY time for ANY reason.

Contract-a voluntary promise or a set of promises between 2 parties

-If breached the law will require either:
1.) Remedy
2.) Performance
-Contracts are under State Law

Objective Theory of Contracts:

Would a reasonable person conclude that the parties intended to create a

contract after considering:
1.) The words and conduct of the parties
2.) The surrounding circumstances

Subjective intent is irrelevant

To be enforceable contracts must have 4 required components:

1.) agreement
2.) consideration
3.) capacity
4.) legality
Agreement :
-Doesn’t not equal contract
Agreement- offer, acceptance & mutual assent
-Meeting of the minds”
-MOU Memorandum of Understanding (Letter of intent)

Contract- agreement, consideration, capacity, & legal object

2 parties of contracts
o Offeror and Offeree
- An offer can either be to do something or to refrain form
doing something
- Offeree then has the power to accept or reject the offer

Offer, (3 things must be present to have a valid offer):

1.) Objective intent
2.) Definite (or reasonably certain) terms
3.) Must be communicated from Offeror to Offeree

Acceptance:
-Only offeree can accept & must do so unequivocally
Mirror Image Rule
Silence as acceptance
Time of acceptance (mailbox rule)

Mutual Assent:
- “Meeting of the minds”

Consideration:
-Something of legal value given in exchange for a promise.

Legal value
 Either
1.) Promisee suffers a legal detriment
2.) Promisor receives a legal benefit

*Consideration must be “bargained for exchange”

Capacity: Age; Mentally capable

Lawful Object: Object of agreement has to be legal

3 Types of Performance for a contract

1.) Complete Performance – NO BREACH

2.) Substantial Performance- MINOR BREACH
3.) Inferior Performance-MATERIAL BREACH

2 Types of remedies:

1.) Monetary

2.) Equitable
-Specific performance- make them perform the function / complete contract
-Injunction- Make person to do the thing
-Reformation (don’t need this for the test)

Strategic Management

Management- The process of dealing with or controlling things or people

(Administration)

Strategic- To the identification of long-term aims AND the means of

achieving them…
(Critical, key, important, necessary, imperative)

Strategy- planning, action, design, approach

Strategic Management- The process of forming and implementing goals

and objectives based on consideration of
1.) Resources available (people, money, and stuff); and
2.) An assessment of the internal/external environments in which the
organization competes.

Simplifies
-Strategic: set goals and determine the plan
-Management: allocate and deal with the resources

Peter Drucker- father of modern day management

3 functions of Management…
1.) Establish the specific purpose and mission of the entity
2.) Optimizing employee productivity consistent with the organizations
mission and purpose, and
3.) Managing the enterprise’s social impacts and responsibilities

Set the Goals Determine the Plan Allocate and deal with resources

Celladurai:
Four management Functions:
1.) Planning
2.) Organizing
3.) Leading
4.) Evaluating

SWOT analysis: Strengths Weaknesses, Opportunities, Threats

Planning Process
 Goals – Broad bases
 Objective- S.M.A.R.T-Specific Measurable, Actionable,
Relevant, Timely
 Strategies-Plan (The How)
 Tactics (The Things We do)

Organizing:
2 step process
1.) Breaking down the work specified from the planning process into
specific jobs.
2.) Establishing a formal relationship among the jobs and individuals
performing the jobs

Planning tells us “what” needs to be done, organizing tells us “who” is going

to do it

Evaluating:

Leading
 Buisnessdcitionary.com
  The activity of leading a group of people or an organization or
the ability to do this
 Leadership involves
- Establishing a clear vision
- Sharing that vision with others so they will follow you

Patt Williams say leaders have 7 qualities:

1.) Ability to see a vision
2.) Ability to communicate the vision
3.) Tremendous people skills
4.) Strong character
5.) Competent (problem solving, selling, teaming)
6.) Boldness
7.) Serving Care

*Extra credit: What is KPI?

Ch. 9 Sports Marketing

“March Madness”
- Sunday’s games had an average of 11.9 million viewers (up
34% over last year)
- Still 5.6 million viewers short of cracking top 100

Sports Oxymoron?

Favorite all time sports marketing

-Sports Marketing
(Supposed to be the Marketing of Sports)

Peter Drucker
 Founder of modern day management
 The purpose of a business is to create a customer.
 Customers are created by creating value for them.

Marketing: is the activity of creating value for customers

Value: perceived benefits/cost (What you get/ What you give up)
-Make customers believe what you get is worth your investments
Sports Marketing-The specific application of marketing principles and
processes to sports products and to the marketing of non-sports products
through an association with sport.

Sports products:
-Goods and service pertaining to sports participation
-Marketing sports leagues and sporting events to attract fans… selling
tickets, broadcast rights, etc.

Non-Sport products:
-Using the association with sports (athletes, teams, sports themes, etc.) for
marketing goods and services

*SPONSORSHIPS

Market Segmentation- The process of dividing large, unlike groups of

consumers into smaller, more defined groups of people, who share similar
characteristics.

3 Ways of Market Segmentation:

Demographics: Who you are

Psychographics: attitudes interest and opinions….
Usage (Behavior): What you do

Demographics:
 Gender
 Age
 Family size
 Income
 Ethnicity/Race
 Geography

Psychographics:
 The study and classification of people according to their attitudes,
interests, and opinions (AIO)

Usage/behavior: What you do….

Ex. Got milk Commercial
- The message was milk is great after a workout. It has the
essential vitamins and nutrients to refuel you, build strong
bones.
- Value= always having milk when you need it/cost of buying
the extra ½ milk
 Its easier to sell a ticket to an existing customer than it is to
find a new customer
 Why do people buy tickets, watch games

Self-esteem: The competitive nature of sports offers opportunities for

achievement and victory

o BIRG: Basking in reflective glory: People try to enhance

their own image by trying to associate with a winning team
o CORF: Cutting off reflective failure: People try to
maintain a positive image by disassociating from a losing
team
o BIRF: Basking in Spite of Reflective Failure: Die-Hard
fans continue to associate with the team even when it is
losing.
Diversion: Sports enable people to escape from everyday life issues and
problems

Entertainment Value: Uncertainty of sporting events creates drama and

excitement

Eustress: Sports provides fans with positive levels of arousal

Economic Value: People follow sports because they have potential

economic gains at stake…(gambling, fantasy, basketball brackets, etc.)

Aesthetic Value: People like sports because of the inherent beauty

associated with sports

Social Value: Need for affiliation build bonds with others?

 1st time sponsorships became big as a revenue stream was during the
Olympic Game in 1984.
  The first endorsement dal done in the US was done by cigarette
companies

Sponsorship- A cash and/or in-kind fee paid to a property (typically in

sports, arts, entertainment, or causes) in return for access to the exploitable
commercial potential associated with that property (IEG)

 Investing in a sports entity to support overall organizational

objectives, marketing goals, and promotional strategies-commercial
competitive advantage
 In 2016 the sponsorship industry is roughly 60.2 billion dollars
 Popular Forms for sponsorships
- Corporations are getting more money from sponsorships
than any other sponsorships
- North America dominates sponsorship world $22.4 billion
- Europe $15.9 billion
- Asia Pacific $14.8 billion
- C/S America $4.5 billion
- Other $2.6 billion

Ch.10

8 Primary sources of revenue:

1.) Sponsorship
2.) Tickets
3.) Broadcast
4.) Concessions
5.) Parking
6.) Merchandising/licensing
7.) Facility Rentals
8.) Donations

 Top 3 reasons students DON’T want to sell….

1.) Self doubt
2.) Think sales people are like car salesmen cant be trusted
3.) Don’t have the knowledge

Top 3 reasons students should want to sell

 1.) Foundation of any business is revenue generation
2.) People in sales earn more than their counterparts
3.) More people in sales department than any other part of the
organization (more jobs)

David Rubistein
3 Buckets you need to have:

Innate Talents: Industry Knowledge: Sales Skills:

Responsible Widgets Communication
Organized Pricing/Margins Negotiating
Driven/Motivated Turnaround Times Getting to Decision Makers
Relatable Handling Objectives
Talkative Networking
Cold Calling

Consultative Selling- MLS Ticket Sales:

1. Build rapport
2. Set the Agenda
3. Ask open-ended questions
4. Apply product knowledge
5. Handle Objections
6. Close/ Ask for referrals

Sales person should do 20% of the talking, customer 80%

Speaker 4/4/17
Public relations- a strategic communication process that builds
mutually beneficial relationships between organizations and their
- professionl maintenance of a favorable public image by a company or
other organization or a famous person
P.T Barnum is the king of advertisement
Ch.12 Facility Management

Facility Management:

What does Facility Management mean?

 A profession that encompasses multiple disciplines to ensure
functionality of the built environment by integrating people, place,
process, and technology.

What do facility managers do?

 Responsible for making sure that buildings and their services meet the
needs of the people that work or play in them.
 They are accountable for services such as cleaning, security and
parking, to make sure the surrounding environment is in a suitable
condition to work.

Event Management:

What is event management?

 The application of project management to the creation and
development of large scale events such as festivals, conferences,
ceremonies, formal parties, concerts, or conventions.

What is project management?

 Discipline of initiating, planning, executing, controlling, and closing
the work of a team to achieve specific goals and meet specific success
criteria.

The event Triangle: 3 Constituents

Participants Sponsors

Event/Facility
Manager

Spectators
4 Phases of Event/Facility Planning

1. Strategic Planning
2. Conceptual Planning
3. Operational Planning
4. Contingency Planning

1.) Strategic Planning: An organizations process of defining its strategy (direction) and
making decisions on allocating its resources to pursue this strategy.

(*When you understand the goal you can think strategically, difference between thinkers
and doers*)

-Goal and objectives are both destinations, but goals are broad based and objectives are
measurable (more specific). Objective is the why and the strategy is the how.
-Strategic planning is, knowing how to write objectives

1.) Strategic Planning Tools:

 SWOT Analysis
 VMOSA- Vision, Mission, Objectives, Strategies, Action Plans
 Six C’s- Consumers, Customers, Category, Company, Competition, Client’s
(Shareholders)
-Consumers use the product, customers buy the products
- Push is for customers, pull is consumers

Strategic Planning Rules

- It’s a process
- Goals and objectives are different
- The process is constant
2.)Conceptual Planning- Its the phase of the process where master planning is done.
-This involves design, staging (job descriptions), resource allocation, and budgeting
It generally involves two pars:
1.) Content/Participant planning (game, event, etc.)
2.) Spectator planning

3.) Operational Planning: a detailed plan used to provide a clear pictures of how the
strategic plan will be achieved.
It generally involves three parts:
1.) Staffing
-Hiring
Training
-Scheduling
2.) Event Operation
-Run of show
-Time, action and who is responsible
3.) Event Closeout
4.) Contingency Planning: planning for the what if’s…

Ben Franklin: “Failing to plan is planning to fail”

5.) (Not in the Books) Recapping and Evaluating the performance of the event….
-What did we learn?
What worked?
What didn’t work?
It we had to do it again what would we do differently.

 About 30% of customers you can plan for attendees to eat and purchase beverages
 About 75% of customers purchase alcohol

Risk Management:
 Process of analyzing exposure to risks AND determining how to best handle such
exposure
 Exposure to risk- potential to loose money
-Personal Injury
-Theft
-Cancellation
-Weather issues
-Violence,etc.

Two Ways to deal with risk:

1.) Plan for it
2.) React to it
3 Goals of Risk Management:
1.) Minimize liability and financial loss
2.) Reduce insurance premiums
3.) Provide a safe environment for employees, participants and spectators

D.I.M. Process (Risk management Plan)

 Develop
 Implement
 Manage

3 steps to developing the plan:

1.) Identify the risk
2.) Classify the Risk
3.) Select treatment for each risk

1.) Identify the risk:

 Fixed risks- things we can control
 Variable risks- things we cant control
 2.) Classify the risks:
 Probability/likelihood
 Severity/Consequences

3.) 4 Ways to treat Risk:

 Avoid
 Accept
 Reduce
 Transfer

Transfer the Risk

 2 Key types of insurance policies:
1.) Named Perils (covers loss only caused by named risks)
2.) All-Risk (Covers losses from all risks unless specifically excluded)

All risk does not cover:

- Floods
- Terrorism
- earthquakes

All three require specific policies

Another way to transfer risk is by signing waivers

4 states say no to waivers

-Louisiana
-Montana
-Virginia
-Rhode Island

Rigorous States:
Alaska
Arkansas
California
Delaware

Moderate States:
Colorado
DC
South Carolina
Minnesota

Lenient States
Alabama
Georgia
Kansas
Maryland

Case law states (no statue)

Arizona,
Connecticut,
Wisconsin

Alcohol Management:
 Dram Shop Laws:
A law in which a business sells alcohol to a drinker who is obliviously
intoxicated (or close to it) is strictly liable to anyone injured by the drunken
patron

2011 University of Minnesota School of Public Health

 MLB and NFL games
- 40% of patrons drink alcohol
 8% of consumers are legally intoxicated post game
-MLB 30,163- 2,413 drunks
-NFL game 68,939- 5,515 drunks
-Fans under 35 (9x more likely to be intoxicated)
-Fans who tailgated (14x more likely intoxicated)

Ch.13
Revenues:
Money coming into an organization

Expenses:
Costs incurred by the organization (“going out”)

Budget:
Outlines where a business intends to spend money

Income Statement / (P&L)-PROFITS AND LOSS:

Measurement of revenues (receipts) and Expenses (expenditures) between TWO
SPECIFIC points in time.
 Weekly
 Monthly
 Quarterly
 Annually

Revenue
-Expenses
Operating Income

Operating Income:
(EBITDA)
Earning, Before, Interest, Taxes, Depreciation, Amortization

Net Income:
The amount of money left after subtracting Interest, Taxes, Depreciation, Amortization

Debt:
The owing of money to others

(Ex. Paying off a house)

-Go to bank get a loan

-Sign a promissory Note

You pay back principle +interest

-The bank gets Collateral

-If you default they get the house

Bonds:
A promissory note without collateral
Two types of bonds:

General Obligation Bonds:

Guaranteed repayment regardless of the projects success

Revenue bonds:
Repayment is made only if the project is successful