ULTIMATE SPORTS CITY 2008
Executive Summary
Introduction
Over the last 30 years, the desire to host major sports events by cities and countries in all corners of the globe has become stronger as they balance the rising costs with the benefits that an event brings. An improved image, updated infrastructure and venues, a healthier nation, an increase in tourism, positive economic impact and the chance to promote itself on the world stage are outcomes that a host city strives to achieve and the reason why it is often prepared to spend billions of dollars on an event that may only be in town for two weeks.
The budget for the London 2012 Summer Olympic Games at the time of writing was standing at £9.35bn, nearly four times the original estimate of £2.4bn. Construction is budgeted at £5.3bn, there is a £2.7bn 'contingency fund', and tax and security costs have risen. The budget shows that £1.942bn will be needed to prepare the Olympic Park in east London and to install power lines, bridges and roads. Another £1.17bn has been allocated to venues. The UK government's contribution has risen to £6bn, with £2.2bn coming from the country's National Lottery and the rest from London's council tax payers. The cost of staging the event itself - estimated at £2bn at the time of writing - will be met through selling television rights, sponsorship and ticket sales.
Bidding for events in the first place has become a vast business in its own right with millions of dollars being spent on campaigns and improving infrastructure in order to secure an event. Sometimes a city or country may bid for an event as a promotional tool, showing the world it is to be taken seriously, even though it probably has little chance of being selected.
Whether it is a one-off event such as an Olympic Games, FIFA World Cup or a World Championship in Squash, or an annual event such as a Formula One Grand Prix, once a city (or country) has won its bid to host a major sports event, the hard work really starts.
There are many factors that a host city or country needs to consider when hosting an event to ensure that it runs seamlessly when the eyes of the world are upon it. For an event to run successfully, the host needs to be clear about its objectives, hire an effective team, ensure its finances are robust and its venues/infrastructure function effectively while having a planned after-use. All stakeholders in an event need to be consulted regularly and have clearly defined roles and expectations. All participants, from athletes and their entourages, the media and associated technology providers, VIPs and the wide spectrum of suppliers need to be accommodated. Only then can they perform their role to the best and create the best possible show for spectators and television audiences. In short, a city only has one chance to get it right.
About This Report
Section 1 of this report provides a guide to hosting a successful sports event through examining every major element in the delivery chain as well as assessing the role of commercial partners, using case studies and primary research. It tips some future contenders for the title of Ultimate Sports City.
Section 2 of this report provides extensive case studies of the 25 leading sports event host cities globally and presents tangible lessons that can be learned by other potential host cities and event organisers. Hosting a sports event successfully can reap dividends for years after the 'circus' has left town and can be used to attract future sports events. The winner of the title Ultimate Sports City 2008 is unveiled in this section.
For further details, contact:
Debra Lestrade
Information Sales Manager SportBusiness Group
E-mail : debra.lestrade@sportbusiness.com
URL : www.sportsbusiness.com/reports
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