I am not a businessman. Not at least yet. I am no sportsman either. Not till now. But that’s the thing about these fields. You can figure their code out with a bit of tweak, some of research and a lot of sense. Sports are an art. So is business. Today, we meet at their intersection. Welcome!
Sports are generally thought as means of entertainment only. But deep down they are far more than that. They are businesses. Big money businesses. For the starters; the matches are fueled by sponsorship deals from the companies who are looking to attract masses towards their products or services. And these are no ordinary deals. Hefty marketing budgets of giant organizations get consumed in the process.
The sponsors can associate(read buy) the brand names to the name of tournament like HBL PSL and Vivo IPL. This is one way of brand association. Another example of this can be attaching their name with players; for example if a bat manufacturing company wants to catch eyes, they will associate themselves with a high quality batsman. Similarly, a shoe making brand will connect with a top level football player.
Brand recognition techniques can include putting the name and logo of brand on the boards around the boundary line as well on the big screen for the audience in the ground as well as watching on camera.
The product placement strategies from companies are in action from decades. The logos are put on the playing kits, on the stumps and even on the boundary cushions to make sure the brand is well exposed to the viewers.
The players are not only running on the field for entertainment but also for moving the paddle of life-cycles of associated camera-men around the globe, the reporters across the world and commentators(radio and TV) from various countries. This whole coverage is a huge business in itself.
In addition to that, the player transfers generate a ridiculous amount of cash. The jersey selling helps each layer of sellers; from (say) official Nike stores down to your local sports shop, earn their bread as the kids and youth is attached to their heroes and feels pride in wearing them.
Lastly, the air traffic that carries players and supporters across cities, countries and even continents, the hotels that aid from travelling fans and teams, and the ticket money home grounds get in reward for their months(even year) long efforts are a big cycle of money that transfers from one pocket to the other, from one account to another.