Sport today is turning into a business and there are companies involved that sponsor sports with ever growing prize money for the sportsmen as a part of their advertising. Some people agree to this because it has a good effect on the world of sports, others disagree. Discuss and give your opinion.
As an increasing number of companies donate money to assist sportsmen as a part of their advertising, it is interesting to analyze the value of the sponsorship. People are involved in the discussion about whether it will benefit the development of the world of sports. From a personal point of view, it is necessary to encourage the sponsorship of companies.
Today, sport has not only become great entertainment, occupation and lifestyle, but solid business as well. In the world of sports, marketing, promotion and advertisement are fundamental tools for generating huge profits. Nevertheless, without the support of the business community, without its technology, expertise, people, services, products, telecommunications, it’s financing – the Olympic Games could not and cannot happen. Without this support, the athletes cannot compete and achieve their very best in the world’s best sporting event.
It is true that the sponsorship benefits the world of sports financially. For example, in 1976 in Montreal, due to sponsorship, a billion dollar loss was converted into $215 million profit for the city. Similarly, according to the estimations of the Fortune magazine in 1996, the Atlanta city spent more than 2 billion dollars to host the games in 1996 but due to sponsorship they were returned with surplus. As a consequence, the famous cities in the world will take less risk to hold the world sport competitions. Meanwhile, the athletes will be encouraged by the increasing amount of money as their prize. For those reasons, it is important to promote the sponsorship among the world of sports.
In conclusion, sponsorship of companies as advertising can benefits both the progress of the world of sports and the companies themselves. Therefore, it is necessary to improve the sports business nowadays.