Financial Liabilities and pressures on Sports

Football is organized and governed by Federation Internationale de Football Association (FIFA); cricket is governed by the International Cricket Council (ICC) while basketball is run by the Federation Internationale de Basketball (FIBA). These regulatory bodies should introduce rules that limit the number of players that can be transferred within a certain period of time. This will go a long way in ensuring that clubs do not overspend on players ignoring other important issues that need good financing. An example is in the NBA during the period preceding the recession.

Many clubs overspent on transfer of players and thus had to cut down on other important issues like coach and player bonuses. The regulatory bodies should introduce fair prices within which players can be transferred. FIFA should limit the amount of money that can be spent on a single player. This would reduce pressure on clubs to spend lots of money to acquire players. The cases that arise due to club misconduct leading to hefty fines should be controlled by code of conduct drawn by the governing bodies.

Marketing done by big firms that sponsor some clubs should also be limited as some firms benefit so much at the expense of the game. For instance, when Arsenal FC built its new stadium, The Emirates, it was left with loans of up to ? 460million. This has limited the club’s ability to buy more players as such leading to a comparatively dismal performance by the club. Colleges should also create schedules that do not conflict with academic programs. Currently, the college sports seasons run concurrently with the academic programs.

This reduces the focus and funding on sports. This move will give the college sports programs time to benefit from both academics and sports. The other sports governing bodies should also ensure that clubs have good funding before being allowed into any league. Most sports clubs in Africa and Asia can do better if well funded. Equitable distribution of funding will as such see these clubs achieve their goals and not vanish into oblivion as it is the case right now.