The COVID-19 pandemic in 2020 was a game-changing event that impacted the global sports industry. Sports organizations will position themselves to succeed in 2021, by addressing key opportunities such as fan interaction, advanced technologies, and the importance of sports in society.
Looking at the sports industry, it’s only a few professions that catch our attention, like that of an athlete. There is a wide range of sports-related interdependent occupations that go beyond athletic prowess. Jobs in this tangent are growing faster than ever, with new opportunities appearing daily.
Since 2014, the sports industry has grown at a compound annual growth rate (CAGR) of 4.3 percent, resulting in a $488.5 billion global market in 2018. It is projected to rise at a CAGR of 5.9% shortly, reaching nearly $614.1 billion by 2022, according to experts. With the industry’s tremendous pace of growth and vast array of opportunities, now is the ideal time to consider a career in this sector.
So, let’s take a look at the different career options and see which one is right for you:
On and off the field, any great team requires leaders. Although the head coach is in charge of bringing out the best of his or her team, the general manager is in charge of steering the entire organization in the right direction. GMs are at the very top of the organization, reporting directly to the club’s owners. Failure is not a choice at the highest levels because you’ll be working with some of the world’s most influential and challenging people.
General managers must have a passion for the game, a thorough understanding of how it functions, and razor-sharp business skills, such as people management, public relations expertise, and a keen eye for untapped revenue streams.
College athletic director
For a long time, the position of college athletic director was thought to be a safe one for retired professional athletes. However, the industry now attracts top coaches and executives who can earn big salaries and make a name for themselves in college sports, due to the growth in popularity of college sports combined with a massive increase in support for sports and athletics teams.
The day-to-day duties of an athletic director are more concerned with the activities management behind the scenes, although all they do is geared toward achieving success on the track, court, or field. This includes budget management and negotiating multi-million dollar media rights agreements. You’ll also be making decisions that will determine the organization’s short- and long-term performance, such as whether to construct new training facilities or expand the stadium to increase revenue.
Every week, billions of people around the world tune in to watch their favorite sports teams and athletes on TV, live streaming, and mobile devices. Rarely can so many people come together for such a common purpose. In other words, sports events are a marketer’s dream, providing a once-in-a-lifetime opportunity to draw the attention of the whole world to your product or service. To put this in perspective, a 30-second commercial during the Super Bowl costs over $5 million.
Sports marketers are in charge of developing and executing promotional campaigns. It is their responsibility to locate suitable placement opportunities and devise creative new campaigns to pique the attention of sports fans all over the world.
Sports consultants serve as advocates for their clients, negotiating new terms and securing the best offers. Agents who deal with celebrities appreciate the glamorous aspects of their employment, which include foreign travel, front-row seats at the world’s most prestigious sporting events, and significant commissions.
Throughout his long career, football agent Mino Raiola has facilitated over £700 million in transfer deals! But it’s not just about showing your clients the money, as in the popular sports agent film Jerry Maguire. Today’s agents are available 24 hours a day, 7 days a week to ensure that all of their clients’ needs are met. This could be as difficult as negotiating a raise or as easy as making a reservation at a restaurant.
By the time you graduate, you’ll be primed to kickstart a successful career in your dream industry. Graduates of the program can work as sports agents, sports managers, event coordinators, marketing professionals, Sports & Fitness School founders, and more.
The admissions team is always ready to answer questions or guide applicants through the application process. Join the new-age program in MBA Sports Management and catapult your career in the Sports Industry with MBAESG India.