The community-based youth leagues in Miami are enjoying a public-private partnership between the City of Miami Springs Parks and Recreation Department and other non-governmental organizations within the City of Miami. The partnership forms a viable funding source to manage the leagues. In essence, a public-private partnership in sports allows the government to outsource much of the funding needed to manage the recreational activity from private companies. In retrospect, the private partners often take the most significant risk as it will depend on how the sponsored project will perform.
The pros of public-private partnerships as a funding source include providing better solutions to handling the project as each participant will put in their best effort. As a measure of performance, faster completion of projects is achieved (Rodriguez, 2011). More significantly, public-private partnerships foster transparency in government projects that do not reach the completion phase
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However, this type of funding source increases government costs, especially in risk compensation for private partners (Legg et al., 2018). Additionally, if the funding lies heavily on the private side, the government might find it hard to assess its progress. Simultaneously, if the private partners are few, the competition will be limited, thereby impacting the project's cost-effectiveness.
References
Legg, E., Jones, G. J., & White, M. (2018). Whose job is it anyway? Public–private partnerships in youth sport. Managing Sport and Leisure , 23 (4-6), 261-276. https://doi.org/10.1080/23750472.2018.1530070
Rodriguez, J. (2011). The benefits and disadvantages of P3 contracts . The Balance Small Business. https://www.thebalancesmb.com/public-private-partnership-pros-and-cons-844713
