Funding for Diverse Sports

Introduction

Fund raising activities are mostly focused towards improving the prospects of change or increasing any value propositions. The fund-raising activities are conducted by businesses with the purpose of assisting them with initial investments (Kokolakakis, Castellanos-García and Lera-López 2017). The case organization, Ace Junior Sports Club, is located in a London Borough being established in the year 1990 by a group of parents to improve sports opportunities among young people in the region. The grants and fundraising activities assisted in the establishment of a multi-use sports hall at a local comprehensive school in 1995. Different sports like the basketball, badminton, roller hockey, fencing and gymnastics were empowered through the club since its establishment. Moreover, the club also included changing rooms, a sports hall, indoor climbing wall, office and two smaller meeting rooms.

However, it has been observed through the case that the club directors and the volunteers identified an urgency towards the development of activities for disabled wheelchair user groups while improving on facility access like disabled changing facilities and toilets.The organization or the club requires a funding source and fundraising strategies with the purpose of establishing their objective of diversifying their sports-based services. Moreover, some investments would be required for equipment and volunteer training. In this connection, the report would analyze the needs of Ace Junior Sports Club and devise different sources of funding and fund-raising strategies with the purpose of meeting their needs.

Funding Avenues

The major funding source or avenue that might be considered by the concerned sports club is sponsorships. The use of sponsorships would allow the club in empowering their initial investments effectively through collaborating with different business organizations. The business organizations find sports sponsorships as efficient means of marketing their offerings and their brands in any sports events that are conducted by a club while in return the business ventures provide revenue to the sports clubs to improve their degree of operations (Kokolakakis, Castellanos-García and Lera-López 2017). According to Solntsev, Osokin and Vlasov (2019), sports sponsorship is an integral aspect that supports in the mutual growth and development of businesses along with the sports clubs. In the case of the chosen sports club the sponsorship activity with relevant business firms would allow in improving their scope of sourcing revenue for investments in their developments whereas provide the business organizations with an opportunity of making effective marketing activities.

Chang et al. (2020) stated that sports sponsorship activities are mostly based on improving the revenue streams or funding sources of the clubs while increasing the market awareness related aspects of the sponsor organizations. For an instance, the Red Bull energy drink manufacturing organization are indulged in different sponsorship programs that are specifically focused towards empowering the extreme sports. More than 62% of the sports clubs has taken the initiative of developing sports sponsorship activities in order to imp[rove their capability of growth as per the changing priorities (Chang et al. 2020) The organization provides large amounts of funds for the local clubs and organizers of the mega extreme sports events for equipment, training, and conduction of different other activities whereas in return the organization creates large hoardings and posters in the venue for making the people aware of the different propositions that are offered by Red Bull.

The idea of the sponsorship program is specifically derived from the example of the Red Bull’s sponsorship activities with different extreme sports organizers and clubs. The utilization of the sponsorship program in the chosen club would focus towards improving the revenue streams and the scope for initial investment for the changes. The sports agency might take the initiative of collaborating with social or voluntary working organizations, as the cause for change in the club is specifically related to the disabled. Close collaboration or attaining sponsorships from the voluntary service providing organizations would be an easy option while connecting the same with the cause of the clubs. On the other hand, the investments that might be made by the voluntary service providing organizations to the club would be rewarded through the increase in market awareness on the organizational operations of the ventures. The major objectives of the sponsors for the club would be specifically based on improving their market orientation while spreading awareness in the markets on their existence and the propositions that are being offered by the sameChang et al. (2020).

Elmose-Østerlund and Iversen (2020) stated that sports sponsorship activities generally support an organization in improving their marketing prospects while reaching out to a varied category of audience. In this connection, the mutual growth concept through the sponsorship activity would support the sports club in attracting the attention of the business organizations which are capable of investing on the sponsorships through effective marketing-based campaigns. However, it has been observed that the cause that is being highlighted by the club being specifically based on a social cause, businesses might not make investments due to the lower scope of marketing their own propositions. On the other hand, the club might take the initiative of attracting the attention of the voluntary working ventures which would not only support the current sporting club in gathering a better revenue source but also contribute towards ensuring the efficient marketing management activities of the businesses for better awareness.

The directors of the club would take the initiative of consulting with the volunteers and the relevant groups of stakeholders with the purpose of identifying the benefits and success factors that might be expected from the sponsorship activity. After consultation and planning, the directors of the club would devise a report on the different areas of operations where the funding or investments would be utilized and the benefits that the businesses would experience through the sponsorship program. The directors of the club would also take the initiative of contacting different social organizations with the purpose of attracting their active participation in the change initiatives through the initial investments.

Paakkari et al. (2017) stated that the identification of the benefits that would be experienced by the business owners through the sponsorship program supports a sports club in attracting the attention of the sponsors and influence their activities towards making investments. In this connection, the directors of the club wmust develop a persuasive report while discussing their cause for change or the new sports category that are being planned and the way the social organizations might benefit through the same while reaching out to a wider range of target audience. Lastly, the directors must contact different social organizational leaders and encourage their active participation in the sponsorship program with the purpose of ensuring that the club experiences an increased investment or funding stream through the larger participation of the sponsors. The club might also encourage donations from the alumni athletes from the club. The alumni program would also support the club in attracting sources of revenue in order to fund their change process.

Club practice

The club is specifically focused towards encouraging sports among the youths through widening the availability of categories. From the case study it was observed that the club was established with the motive of promoting sports among the younger generation or youths in London. In this connection, the club has devised a safe and inclusive culture which focused towards empowering a close collaboration between the volunteers, trainers, parents, and the board. Moreover, it has been observed that decisions of the Board were taken after consultation with the stakeholders which largely contributed to the values. The commitment, integrity and inclination towards different sports activities guided the operations of every member in the club. The amenities that are made available to the youths and the athletes aimed towards improving their experience.

Moreover, the club moved towards introducing sports for the disabled, a category which is focused towards ensuring the fulfillment of a social need. According to Kokolakakis, Castellanos-García and Lera-López (2017), the positive culture in an organization or a sports club contributes towards the image and reputation of the same in the markets. In this connection, the club devised different safety measures and continuously focused towards improving the degree of operations with the purpose of providing the athletes or the youths with a better experience. The social objectives and agenda that is being devised by the club also helps in identifying the intent towards contributing towards a healthy societal structure. Therefore, the positive outlook and motifs of the club might be considered as major aspects that would contribute towards building an efficient club culture. The social cause that was indicated by the club would contribute towards its CSR activities while empowering the disabled athletes through the creation of a platform for displaying their capabilities.

Summary

Therefore, from the above assessment it might be stated that the chosen club must take the initiative of attracting the attention of sponsors specifically like social organizations with the purpose of improving their funding sources. The organization is focused on the development of activities for disabled wheelchair user groups while improving on facility access like disabled changing facilities and toilets. Therefore, they would be requiring funds to address the initial investment-based requirements. The use of sponsorship programs while attracting the attention of social organizations would assist the organization in gathering huge funding to comply with their urgency. On the other hand, the sports sponsorships would support the sponsors in improving their brand awareness and growth.

Future Recommendations

Continuous funding is one of the major aspects that might be considered by the club with the purpose of maintaining the continuity of their operations as per their strategic goals. The organization might seek for continuous funding through the alumni athletes who have been a part of the club. Moreover, the club might also take the initiative of conducting crowd funding activities through which they would be able to encourage the active participation of the communities towards fighting a social cause that is being raised by the club. The aspects of continuous funding would allow the club in improving their growth prospects.

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Reference List

Chang, C.M., Chou, Y.H., Hsieh, H.H. and Huange, C.K.(2020) The Effect of Participation Motivations on Interpersonal Relationships and Learning Achievement of Female College Students in Sports Club: Moderating Role of Club Involvement. International Journal of Environmental Research and Public Health, 17(18), p.6514.

Elmose-Østerlund, K. and Iversen, E.B., 2020. Do public subsidies and facility coverage matter for voluntary sports clubs? Sport Management Review, 23(2), pp.315-329.

Kokolakakis, T., Castellanos-García, P. and Lera-López, F. (2017) Differences in formal and informal sports participation at regional level in England. International journal of sport policy and politics, 9(3), pp.491-504.

Paakkari, L., Kokko, S., Villberg, J., Paakkari, O. and Tynjälä, J.(2017) Health literacy and participation in sports club activities among adolescents. Scandinavian journal of public health, 45(8), pp.854-860.

Solntsev, I., Osokin, N. and Vlasov, A. (2019) Financing sports: Foreign practices. Mirovaiaekonomikaimezhdunarodnyeotnosheniia, 63(1), pp.67-74.