The sports business industry is interdisciplinary and may involved planning sporting events and effectively marketing for sports, as well as working with accounting, communications, law, and psychology skills. Careers in this industry may include, but are not limited to, sports managers, sports agents, and/or publicists. The sports business industry tackles the development of risk management plans for any legal issues that may occur, the negotiations of contracts for players in the industry, and/or strategies for effective media relations.
The sports business industry endures competition within itself, from major sports business corporations, to smaller companies, to individual businesses. It is imperative that each establishment and employee must strive to market themselves in the sports world to garner business and clients. Demand in this industry is linked to personal consumer income, as attendance at sporting events depends upon admission fees, ticket sales, and sporting paraphernalia retailing.