Answer the following questions and provide at least 2 references for each answer.


Question –

 There are a number of specialized areas of finance and sports finance is one of those specialties. It is clear that the sports industry is different from the banking industry or from manufacturing.  

However, regardless of the industry no business is able to succeed without using sound financial principles.

 Discuss why it is impossible to fully grasp sports finance without knowing the fundamentals of finance. What basic financial concepts do you feel are important to sport finance? How are those concepts applied to a sports organization?