The concerned assignment is going to discuss certain areas regarding the chosen company namely, Rising Coaches. Rising Coaches is an organization that has been working on providing mentorship and coaching to clubs, educational institutes like universities and schools. Rising Coaches is a well-known organization that works on providing guidance on basketball training. According to a report of FIBA (Federation Internationale de Basketball Amature), Rising Coaches is going to provide training to the Oceania region that will help in upholding the entire basketball scenario of the region and the concerned country Australia (Fiba.basketball, 2021). In this regard, the chosen country is Australia and the organization Rising Coaches is going to provide training to an educational institution, namely Kings Own University for entire development from initial stages. The project is going to cover fundraising methods, analysis, application of technical resources, and community impact with budget planning with sponsorship opportunities, and tax consideration aspects.
Pros and cons of methods related to fundraising
There are different advantages and disadvantages of significant fundraising strategy and operations. Capital investment is a proper strategic application, adopted by various companies to make the proper planning of their building establishment. A major advantage of this strategy is the implementation of publicity and future funding operations. In respect to this study, rising Coach is planning to create their development of stadium planning for King’s Own University. One of the major disadvantages of this fundraising operation is funds are to be raised as per the performance need (Soleh, 2020). Along with that, lack of leverage negotiations can also be counted among the cons of the strategy.
Figure 1: Methods of Fundraising
Crowdfunding can be another application tool of fundraising that can be adopted by the newly appointed sports manager of Rising Coaches to deliver a planned project for bringing up this team from Division II to Division I. A prime advantage of this strategy is to collect money in a short time and can deliver value to a plan in a short time. It can also help get feedback from experienced people (Adena, 2021). On the other hand, one of the major disadvantages of this fundraising strategy is; this does not apply to any project and builds interest in managing funds rather than project management.
Charity and donations can also be noted as a prime strategy for gathering money for any project performance. One of the major advantages of this program is getting benefits from tax slabs and including donors who are well informed about their project planning and operation (Di Lauro, Tursunbayeva, & Antonelli, 2019). On the other hand, a large amount of money cannot be gathered and initial commitments are also to be included. Along with that, the ongoing effort can also be discussed as a major operative disadvantage of this fundraising policy.
Analysis of impact on economy and community
This project development operation will have a major impact on both the economy and community of the area, where the stadium is going to be established. The prime purpose of this stadium is to bring the university to Division I from Division II. It can be hypothesized that this project can bring a major impact on the economic outlook of this university. In order to get better revenue approaches, it is required for the operators of this university to arrange different tournaments in this stadium. As stated by (Filo, Fechner & Inoue, 2020), it is seen that many universities in US and Australia, are conducting this kind of sports management approach to get an effective outcome and operational performances and development. Along with that, all the revenues, collected through this planned stadium, can also be utilized by the operators of this university to make proper planning for their sports development.
This project management of the construction of this basketball stadium by Rising Coaches can also make a significant impact on the student community of this university. As stated by Lundberg et al. (2020), many students in different universities are keen on sports. By constructing this project, many students will be motivated to join those sports events for planning their basketball ground. Along with that, it will be motivating for the students from both domestic and international education markets to get admission to this university where both education and playing opportunities are to be provided with equal importance (Shirangi, Volkov & Durlofsky, 2018). Furthermore, it can also be expected that through this stadium, this university can attract a lot of government-sponsored tournaments. Through this process, it can be expected that these organizations can gain major advantage through different position making in the community development of the area. Moreover, gathering people due to any venue can be helpful for the people to get a successful increase in the revenue generation of the locality.
Application of technical resources
It is required for the sports manager to include a successful technical process to make a successful promotion of the new team and stadium of the university. In order to make a vast number of people aware of the new stadium and team development, social media strategy can be used by the team to make a proper strategic approach to make it popular. It can be stated that crowd funding, and arranging sports events are two major strategies of fund collection for the proposed project. Therefore, sports managers of Rising Coaches should establish a proper communication chain with the fund investors to make their proper planning and operations.
In order to attract a vast amount of donors, respective authorities can include their performance operations by the inclusion of successful presentations. This presentation will include various attributes of scope development and hypotheses regarding financial investment and its outcomes. As commented by Byers, Hayday, & Pappous (2020), it is required for the leaders and managers of this project to gather effective knowledge from the people regarding their basketball stadium planning and operation. It can also be included in this communication operation, based on technology, to infuse effective social media policy and management practices.
Arranging events for collecting funds can be included as a major operational feature of fundraising of this project. On the other hand, it is also required for the planners to make a special sponsor attraction strategy to gain successful revenue. In order to construct an effective stadium for basketball, it will be tough for the sports manager of a respective company to establish it with only crowd funding (Alemany-Pagès et al. 2020). Hence, by arranging different tournaments, they can attract sponsors for their program operations and management. On the other hand, it will also be helpful for the sponsors to segregate the university as their new people for managing their brand images.
Attributes of sales regarding given budget
|Factors||Amounts Estimated||Strategies Required||Process of Usage|
|Approach to alumni||$10,000||Direct communication.||Application in the purchase of sports products.|
|Request to retire sportsperson||$10,000||Direct communication, telephonic conversation, presentation.||Application for both sports product and player training.|
|Tickets from matches||$30,000||Both online and offline scopes to distribute tickets.||For the development of stadium and sports ground|
|Sponsorships||$50,000||Present the hypothesis of organizational marketing.||Structural development of the stadium.|
|University fund||$15,000||Communication with authority||Developments of viewers’ seats.|
|Government grunts||$30,000||Direct communication with sports department officials of the government.||Overall development of the stadium.|
|Total amount (estimated)||$145,000|
Table 1: Budget Planning
There are different factors and sources of this operational project, from where the sports manager has planned to collect revenue. It is estimated by the sports manager of Rising Coaches, to arrange $10,000 and it will be used to purchase improved sports products from the market. In order to make this appeal to those alumni of this institution, direct communication like face-to-face talk and telephonic conversation will be applied as a strategy. Along with that, for making a proper community development through this stadium, this manager can also make an approach to the retired basketball players of the country with an expectation of fund gathering up to $10,000. Along with that, this manager has also planned to organize different sports events on the university grounds and infuse funds from the price of tickets. With the application of both online and offline ticket distribution, respective managers have expected an arrangement of $30,000. According to the planned budget, this will be invested in the development of a sports ground (basketball ground). It is expected that this organization can plan proper strategic development and operation for its sales strategy and growth. This sales strategy of this stadium is expected to include the potential of arrangement, courts, and lights during the match. Here, social media strategy can also be included as a major operational understanding.
Challenges during the review process
This budget will proceed as per the mentioning of financial data and information, mentioned in budget planning and operation. However, it can be stated that different project planning challenges can occur during the review process of that budget. As stated by Ho (2018), major non-government financial reports are based on donations and it cannot be expected that all the revenue operations are to be included accordingly. Moreover, the attraction of the sponsors is also dependent upon the hypothesis and it is possible that effective sponsors may not agree to the investment into those sports operations, organized in this stadium. One of the prime reasons for rejection is a lack of trust from the newly developed projects. It is required for the manager to make proper planning and operation for including retired and recognized sportspersons into their operational management.
It is required for the manager of this project, to make a proper planning of their performances to attract government’s grant into their structural development. As viewed by Bondarenko et al. (2020), government authority insulates their grants as per the utility of the project. A presentation without the lack of information regarding the impact, generated on the community development process can also generate challenges in front of that project. Along with that, sudden changes in university protocol can also generate a threat to the budget as well as stadium projects.
The coaching institute, namely, Rising Coaches, is going to establish a University stadium that will provide enormous opportunities to the country on basketball coaching and entire sports development activities. In this regard, it can be said that there are three types of sponsorship opportunities for Rising Coaches for the development of stadium and basketball development and they are as follows:
The financial sponsorship is related to those organizations that are going to direct financial support for the event. As opined by Baylouny & Mullins (2018), financial sponsorship is related to the matter of providing financial credits by having a guarantee and assistance to an organization or an individual for a contracted purpose. In this regard, there are top sports brands that will help in providing financial support to Rising Coaches for the concerned purposes.
Figure 2: Most Valuable Sports Brand in Australia
(Source: Statista.com, 2018)
The above picture depicts that Penrith Panthers is one of the most valuable brands and it has 46.2 billion dollars and Collingwood Magpies have 39.1 billion dollars of the value proposition. Rising Coaches can seek financial support from these brands that will help in a basketball tournament launching and stadium inauguration process.
In-kind sponsorship is related to providing assistance by having other than financial support to an individual or an organization (Blog.liveto.io, 2020). In this regard, it can be said that Rising Coaches can take in-kind sponsorship from some of the sportswear brands that are popular in Australia.
Figure 3: Most Valuable Sports Business Brands
(Source: Statista.com, 2021)
It has been found that Nike is the most popular brand in the sports industry with a value market of 36800 billion dollars. Moreover, ESPN and Adidas are other renowned sports business brands that will help Rising Coaches in this regard. Companies like Nike and Adidas can support the events by providing sports appeals like jerseys, sports shoes and balls to the pliers for a concerned purpose.
Media sponsorship is an essential part as it helps in providing brand advertisement in sports events and in other advertisement activities to do the best. Rising Coaches can take sponsorship from the most viewed daily news channel in Australia, which is Age and Sydney Morning Herald which have more than 11 million daily views on YouTube (Statista.com, 2022). In this regard, it will help in media sponsorship generation and it further helps in brand endorsement activities also.
Promotional sponsorship helps in the process of promoting the event through transmitting the news of the concerned event and by awarding people about the establishment also. In this regard, though organizing the event Rising Coaches can have promotional sponsorship that will help in the process of promoting the construction of the stadium and people can donate something to it.
Inclusion of premium seats, PSLs, and naming rights
It is important to have a well-decorated seating arrangement for the stadium so that the audience can easily be able to enjoy the match. As opined by Norsafiah et al. (2019), a seating arrangement of stadium-style involved rows that are perfectly inclined and angled to watch the match from every angle. It is important for Rowing Coaches to have five different seating sections to serve the purpose of seating arrangements. The organization is going to have an around 240 persons seating arrangement regarding each stadium that is going to be established. The five seating sections will include the following sections:
- Court level section
- Student Courts
- Lower level
- Upper level
The following table is going to describe the seating arrangements with its capacity level regarding the concerned sections
Table 2: Seating Capacity
Figure 4: Seating Structure
The court level is going to have a seating capacity of 100 persons and it will be divided into 4 sections which will be the closest to the basketball court. Each section is going to be placed at each side of the rectangular court. A student court of 30 persons is going to be placed along with the five court level sections on the one side of the basketball court. Each court level is going to have a seating capacity of 20 persons and it is going to be the nearest seating section for the audience. There will be 20 people seating arrangement on the sidelines and upper level of the court and student section regarding the PSLs. Considering the seating arrangement the lower level of the seating arrangement of 30 people is going to be arranged on the back to the goal lines and above the court levels. The upper level is going to be adjacent to the lower level seating arrangements with each section of 20 people seating arrangements. There will be PSLs availability which is a personal seat license that can help the visitors to have seasonal tickets.
The pricing of the tickets are going to be given in the following table:
Table 3: Ticket Prices
Boosting roles and responsibilities
The association of the alumni and the other profound clubs is going to help in the process of enhancing the brand awareness and will help in promoting the sport, basketball. Each of the university members has immense responsibilities regarding the event that is going to take place. The organization, namely, rising coaches should involve different basketball clubs on the second division level to promote the game and to create enthusiasm among the students to make them have better-engaging activities regarding basketball. In this regard, it can be said that Loose Cannons can be invited to play an exhibition match for inaugurating the stadium establishment and basketball endorsement. According to a report, it has been found that Loose Cannons is a second division club whereas it must have some youth faces to energize the team’s spirit (Sportsmatchmaker.com.au, 2022). Other teams like Melbourne United, Perth wildcats, Cairns Taipan and Illawarra Hawks are some profound teams that will take part in the exhibition tournament. In this regard, certain university teams like King’s Own Institute, University of Melbourne, UNSW Sydney, and the University of Adelaide are going to take part in the exhibiting tournament of basketball.
Loose Cannons, team manager, Beppe Della Noce will come as an invitee and give a speech to take some talented pliers for Loose Cannons that will help in enhancing the spirit of the game. Moreover, Aron Baynes is going to attend the tournament as a guest who will encourage the university students who are taking part in the tournament. Aron Baynes is going to give an introductory speech and he will give prizes to the players. Joe Ingles, Patty Mills, Ben Simmons are going to raise the fund for the establishment of the stadium and they are going to contribute around 50,000 dollars. All these alumni are going to help the university students in their basketball career development.
|Land Acquisition||100$/ month|
|Water and Pipe-line taxes||50$/month|
|Safety and Security Taxes||10$/monthly|
Table 4: Tax Distribution
The above-said section is going to discuss all the taxations that the organization has to pay down for establishing the stadium. Rising Coaches has to pay approximately six taxes and they are land acquisition tax, water and pipeline tax, governmental charges, electricity charges, establishment taxes and safety and security charges. It will take around 220 dollars on a monthly basis and 90 dollars annually.
The aforementioned discussion regarding the planning prospect of the Rising Coaches will help in upholding the basketball scenario of Australia. It has been found that constructing a stadium will help to create enormous scope for the university players to uphold their capabilities and skills. Crowd funding will be the most appropriate for upholding the basketball scenario and it will help in creating basketball awareness among the students and help in having a huge amount of enthusiasm among the upcoming players. An exhibition tournament is going to be played to have different sponsorships and seasonal and other ticketing systems will help the most.
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