The main current trends experienced in sports financing is the cost of the project and the long-term impact on public subsidies. Project cost relates to the economic impact that the constructed sports facility will have on overall regional development ( Barajas et al., 2016) . Public subsidies are associated with the government's decision to develop the sports arena due to its beneficial impacts to the general public.
The main factors contributing to public subsidies are proximate economic development and enhancing social capital. Proximate economic development is associated with investments outcome from the entity. The facility also offers rejuvenation on significant projects such as infrastructural development ( Hudson, 2001) . Social capital is based on establishing human relations for mutual support in the sports industry through external and internal dimensions.
Delegate your assignment to our experts and they will do the rest.
Community impact on the financing of sports facilities through their plans related to complementary, general, and proximate development in society. General development impact is the community's desire to benefit from services contributed by sports such as media coverage. Complementary development relates to the need to finance sports facilities to offer the community services obtained directly from sporting such as employment. Proximate development needs for sports facilities are geared towards attracting other business activities at the community level.
References
Barajas, A., Coates, D., & Sanchez-Fernandez, P. (2016). Beyond retrospective assessment. Sport event economic impact studies as a management tool for informing event organization. European Research on Management and Business Economics , 22 (3), 124-130. https://doi.org/10.1016/j.iedee.2015.05.001
Hudson, I. (2001). The use and misuse of economic impact analysis: The case of professional sports. Journal of Sport and Social Issues , 25 (1), 20-39. https://doi.org/10.1177%2F0193723501251003
