This research has established that it is crucial to increase funding for Viu Athlete Programs. This is because the teams are currently struggling and performing poorly due to a lack of enough finances to hire good coaches and pay for their activities and programs. With their current financial situation, Viu is not able to hire better coaches and team instructors. This research has recommended many methods that can be used to increase funds for Viu teams. The proposed methods include increasing ticketing amounts, grants, donations, sponsorship, and conference payments.
Even though the teams have not been doing well, attendance during games has remained impressive. Viu has been successful in maintaining its fan base even during hard times marked by poor performances. Student attendance at the games is of particular importance to Viu increasing its finances. More than 23,000 students usually attend the game on one occasion. Despite the poor performances, attending Viu’s games has remained fun and exciting. It continues to promote bonding with other students and creates stronger school spirit. Considering that many students and other people like Viu’s games, it is essential to increase funding to help the teams improve their performances. The research has identified the following methods of raising funds as best for Viu’s situation.
To increase funding, Viu should:
- Increase ticket price
- The current ticket price should be increased by about 25%.
- Students are able to pay for the extra cost.
- Revenue will grow by more than 30%.
- Request for donations
- Ask for donations from alumni and team supporters.
- Viu can organize monthly or quarterly membership fees from alumni.
- Viu can organize regular fundraising drives through alumni and team supporters.
- Viu will generate more than 15% in revenue collection.
- Conferences payments
- Conference payments can come from participation in tournaments and bowl games.
- Viu should also arrange for a broad range of television agreements.
- Viu should increase their active participation in all tournaments and game bowls.
- Viu should start winning its tournament games.
- Sports grants
- Grant is the fastest-growing source of revenue for supporting athlete sports.
- There are thousands of grants that disburse payments to support athlete programs.
- Grants are provided to support directly the financial, educational, as well as health, and safety needs of athletes.
- Grants can be used to support different levels of activities, such as the purchase of equipment and uniforms, the cost for accommodation, travel, coaching, and officiating.
- Sports sponsorship
- There are several different types of athlete sponsorships.
- Corporate, government and private organizations are willing to sponsor competitive and responsible teams.
- Viu should create strong and beneficial partnership with sponsors such as Herbalife, CIBC, CanFund, BMO, and Hydro One.
Viu has been a crowd-pleaser for many years. However, it is losing that glory due to its poor financial position. Although a very popular athlete program, Viu is currently suffering due to several financial problems. The program does not have enough money to sustain its operations, administration, and sporting activities for the next few years. Ideally, it is a critical time to increase funds for the sports program at Viu. Doing so would help the Viu athlete program become more stable and competitive in the sporting industry. Vui is not financially secure, and that directly affects its performance and activities. For example, they do not have excellent coaches and team instructors due to a lack of enough finances. Their current coaches are underperforming.
Viu are not winning any game simply due to poor coaches and instructors. With good coaches, they can start winning all games in soccer, hockey, tennis ball, as well as basketball. In addition, the team is not saving any money due to poor performance. They are not earning money because they are not winning games. There is dire need for the team to have more funds to help improve its current devastating performance. More funds will help hire new better coaches and instructors. More funds will also be used to buy additional sporting facilities for improving the team’s performance.
At the moment, Viu teams are spending more money than they earn. The revenue collection is low yet team expenses are increasing. The current spending levels have surpassed the year’s estimated value. For example, the expenses for Hockey Red Team reached $2400 while the estimated cost was $2000. This was not the case within the past years. For instance, between 2000 and 2014, all the Viu teams were making good money. They had great results during these years due to a good financial position. However, the team’s revenue-earning started dropping in December 2014 due to overspending. In addition, Viu coaches Mata Mark and Jilly John and quit their jobs in 2014, and this marked the beginning of poor performances. The two coaches were high performers for Viu teams. All these challenges necessitate Viu to increase its funding.
The purpose of this research is to investigate, determine, and recommend ways of increasing funding for the Viu Athlete Program. In particular, the researcher determined possible methods of raising funds that apply to the Viu Athlete Program. These methods are discussed in detail and their strengths and weaknesses are exposed. The report goes ahead to discuss the importance of increasing funds for Viu Sports Program. In addition, the report also critical factors that are leading to an unfortunate financial situation in Viu. The report not only discusses these factors but also provides mechanisms for avoiding them. This is significant in helping Viu overcome its present poor financial situation.
The scope of this research study will be limited to Viu Athlete Program only. The research will not consider other athlete programs in the area other than Viu. The research will be organized to determine only specific issues affecting Viu Athlete Program. Interviewees and research respondents will be chosen from Viu. In addition, the researcher will not discuss other elements such as the cost of the program, return on investment, changes in coaching, as well as changes in recruitment and attendance. However, the research will consider the current financial situation of Viu Athlete Program and possible future prospects if recommended changes are implemented.
When undertaking this research, it was assumed that the methods of raising and increasing funds for the Viu Athlete Program are similar to other sports clubs and activities all over the world. For this reason, Viu Athlete Program can use the same method to increase funds for all its core sports segments such as soccer, hockey, tennis ball, and basketball. This is because the same method can apply to all different types of sports. It was also assumed that Viu Athlete Program has the ability to determine which method is appropriate at what and for what type of sport.
This research will use a descriptive survey design employing both quantitative and qualitative methods. This methodology is advantageous because it gives rich information about the phenomenon under study. Besides, it describes the real life situation as it is and gives information as it occurs. The use of descriptive survey design will allow the researcher to gather accurate information, summarize it, as well as present and interpret it for making clarifications.
Data for this research will come primarily from interviews, library sources, as well as online sources. The researcher will collect primary sources through interviews of a selected sample of 50 students and 20 administrators. The students and administrators will be surveyed during the sports breaks. Questionnaires will be the primary tool of data collection during the interview. A questionnaire is suitable for this research because it offers considerable advantage in administration. It also offers the advantage of easier collection of data from a large number of people.
This research has some limitations. The result of this research study may diverge due to different underlying factors related to athletic sports programs. In addition, the result may diverge simply as a function of data sources used, response rates as well as sampling techniques used and data collection method. For instance, sampled individuals may fail to give accurate information about athlete programs. The data sources used may also be outdated and obsolete thus limiting the accuracy of the result. Moreover, the interview may also have chosen to give biased information during the research.
Therefore, the use of convenience surveys in this research may make it impossible to generalize conclusions from people surveyed to the Viu Athlete Program. In addition, the research used a small sample, which could not be an accurate representation of the population under study. Timing of the survey also created an additional challenge. The survey was undertaken in the summer when many international students participating in the program were away. This limited the result of the survey to only a few local students. Lastly, some part of this research used secondary data, which may have been altered during analysis. Thus, may not give accurate information about the phenomenon under study (Stewart, 2014).
In the past, between 2000 and 2014, Viu enjoyed a sound financial position. However, that is no more with the current financial crisis. During these past years, the teams were performing very well and earning good money from tournaments and bowl games. Teams were able to pay well their coaches and instructors. As a result, the team enjoyed good performance and winning streaks. However, starting December 2014, teams started recording reduced revenues. They were not making good money. This trend has continued to date. In particular, teams are spending more than they have budgeted for in their monthly and yearly plans. This led to the exit of two best coaches namely Jilly John and Mata Mark.
In 2014, Viu Athlete Program spent $980 in excess of what they budgeted for. The estimated budget was $9,000. However, the actual budget was $9,980. This presented a declining financial performance. The table below shows a detailed financial situation by comparing estimated and actual expenditure.
|Description||Estimated Cost||Actual Cost||Difference|
|The Red Team||$400.00||$600.00||-$200.00|
|The Yellow Team||$400.00||$400.00||$0.00|
|The Blue Team||$400.00||$650.00||-$250.00|
|Description||Estimated Cost||Actual Cost||Difference|
|The Red Team||$2,000.00||$2,400.00||-$400.00|
|The Yellow Team||$2,000.00||$2,200.00||-$200.00|
|The Blue Team||$2,000.00||$1,900.00||$100.00|
|Description||Estimated Cost||Actual Cost||Difference|
|The Red Team||$300.00||$280.00||$20.00|
|The Yellow Team||$300.00||$250.00||$50.00|
|The Blue Team||$300.00||$250.00||$50.00|
|Description||Estimated Cost||Actual Cost||Difference|
|The Red Team||$300.00||$250.00||$50.00|
|The Yellow Team||$300.00||$300.00||$0.00|
|The Blue Team||$300.00||$400.00||-$100.00|
The bar graph below represents Viu’s current financial situation.
Viu athlete programs provide students with opportunities to not only participate in different sporting activities but also bond. In essence, the program helps create good school spirit. Viu’s games are also fun, enjoyable, and exciting. Increasing funding for Viu’s athlete programs will ensure continuity of all these benefits that students have been enjoying for several years.
Besides, there are students whose lives revolve around sports. They take sports as their career and income-generating activities. Therefore, letting Viu athlete programs die will be detrimental to such students. Increasing funding for this program would help promote and nurture students’ sporting talents. It also creates an opportunity for Viu athlete programs to market and generate income through sporting activities. Lastly, according to Rosner and Shropshire (2011) sports help students improve their academic performance.
Viu’s current financial problem is a result of a combination of many factors that started affecting the club in December 2014. The teams are unable to make money yet expenses are increasing monthly. Mainly, four factors have significantly contributed to Viu’s poor financial situation. They include poor performance, overspending, poor ticketing, and lack of dedicated sponsorship programs.
The teams are not making money. With the poor performance streak, they hardly win any tournament thus any income. These conditions have aggravated Viu’s financial woes over the past one year. When a team wins a tournament, it earns money. As asserted by Atwell, Grimes, and Lopiano (2012), without winning the team simply spends money towards the tournament but earns nothing.
Viu’s team expenditure has significantly increased over the last one year majorly due to overspending. For the last one year, Viu teams have considerably spent more money than their planned budgets. For instance, they budgeted for $2000 but spent $2400 in Hockey Red Team. In overall, they spent $980 in excess of their budgeted amount. The bar graph below shows the differences between estimated (budgeted) and actual costs.
Lack of dedicated sponsorship programs has also aggravated Viu’s financial problems. At the moment, there are no dedicated team sponsors. Due to lack of sponsors, teams pay for all their tournament expenses. This has resulted in increased expenditure over the past one year. The teams’ sponsors withdrew especially due to poor performances and the exit of the two best coaches, Mata Mark and Jilly John.
Poor ticketing has also resulted in Viu’s financial troubles. The club has not focused on maximizing its ticket revenue collection. In particular, the current ticket prices are considered low. This has contributed to a significant decrease in revenue collection. In addition, there are no proper measures of ensuring effectiveness in ticketing sales. Sometimes the club runs out of tickets for sale.
Methods of Increasing Funds for Viu Sports Program
Despite their differences in spending, funds for Viu Athlete Program can be increased using similar methods and revenue sources. As noted by Noll and Zimbalist (1997), large portions of the athlete’s programs are funded through grants. This makes grants one essential method of increasing funds for Viu Athlete programs. Also, funds for the program can be increased through revenue generation methods such as ticket sales, conference payout among others. Other methods of increasing funds include donations and membership fees. These methods are discussed as follows.
The first easiest way of increasing funds for Viu athlete program is by ticket sales. The current ticketing level is not sufficient to collect enough funds to support the program. Besides, the current ticketing level is considered undercharged. Viu has an option of increasing the ticketing amount. This would ensure more collection during the various sporting activities undertaken by Viu. The primary advantage of this approach is that Viu already has a massive and increasing fan base that would pay for the ticket. Increasing ticketing amount by 25% would be great given the potential of their fan base and target sports attendance. The current ticket sales represent less than 30% of the program’s total revenue collection. A 25% price increment would significantly boost the overall ticketing revenue collection.
In addition to revenue collection through ticketing, Viu can rely on donations to increase funds for all its athlete programs. Donations can come from alumni and other supporters of the Viu Sports Program. They can provide as many funds for the program as the revenue collection from ticketing. This is due to the big potential of Viu’s alumni and supporters. Notably, the number of Viu’s alumni active members more than triples the current membership level. As asserted by Crompton (2011), alumni can support the club through monthly or quarterly membership contributions. Besides, club supporters can have regular contributions towards supporting the programs. The organization can target to generate more than 15% of its annual revenue collection through specific programs targeting alumni and supporters. Alumni and supporters can also organize regular fund drives to sport the club activities.
Conference payment is another better option for increasing funds for Viu Athlete Program. As said by Groothuis, Johnson and Whitehead (2004), conference payments can come from participation in tournaments, bowl games as well as a broad range of television agreements. Many clubs are currently using conference payments to generate enough revenues for their sports programs. Viu can increase their funds by increasing their active participation in all tournaments and game bowls. However, for better payout, they need to be the tournament and bowl game winner. There is huge payout for the winner. In addition, Viu can increase their funding through television agreements. The club should negotiate new television contracts that would significantly boost their athletic revenues. These contracts can come in form of sport sponsorship programs.
College athlete sports can generate a lot of money through grants. According to Siegfried and Zimbalist (2000), the grant is the fastest growing source of revenues for supporting athlete sports. At the moment, there are thousands of sports grants that can disburse payments to support Viu’s athlete programs. Many organizations offer grants to support student-athletes. Most of these grants are provided to support directly the financial, educational, as well as health, and safety needs of athletes. There are many grant-offering organizations that Viu consider with Local Sporting Champions and NCAA being topmost. The club can search grant database and register with as many as possible to increase their funding opportunities. Grants can be used to support different levels of activities such as the purchase of equipment and uniforms, the cost of accommodation, travel, coaching, and officiating. Through grants, Viu can significantly reduce its expenses thus saving its revenue collection and subsequently increasing its funds.
Viu can actively increase their funds through dedicated athlete sponsorships. There are several different types of athlete sponsorships all suitable for funding activities. Both corporate, government and private organizations are willing to sponsor competitive and responsible athlete teams all over the world. Athlete Sponsors focus on creating healthy and beneficial partnership with teams as well as individual athletes and event directors who need financial support. Sponsors work with the primary goal of supporting the athletic performance through financial provisions. To increase funding for its athlete programs, Viu can partner with sponsors, such as Herbalife, CIBC, CanFund, BMO, Hydro One, Cosmos Sports, SportExperts, McDonalds, as well as ClifBar. These organizations have different sponsorship programs that can help Viu increase funds for its athletic programs and activities.
Viu games remain popular despite its recent run of poor performances. Lack of enough funds barely causes the poor performances. If Viu considerably increases its funding, the teams will start exhibiting remarkable performances. With enough funds, more and better coaches and instructors can be hired to spearhead the teams, leading to excellent performances. Teams will also buy enough equipment and materials necessary for their growth and welfare. It is recommended that Viu increase funds by raising ticketing prices, seeking for donations, grants, and sponsorships, as well as conference payments. Through these methods, Viu can raise enough money to support all its team’s activities and operations.
Atwell, R. H., Grimes, B., & Lopiano, D. A. (2012). The money game: Financing collegiate athletics. Washington, D.C: American Council on Education.
Crompton, J. L. (2011). Economic impact analysis of sports facilities and events: Eleven sources of misapplication. Journal of sport management, 9(1), 14-35.
Groothuis, P. A., Johnson, B. K., & Whitehead, J. C. (2004). Public funding of professional sports stadiums: Public choice or civic pride?. Eastern Economic Journal, 515-526.
Noll, R. G., & Zimbalist, A. S. (1997). Sports, jobs, and taxes: The economic impact of sports teams and stadiums. Washington D.C: Brookings Institution Press.
Rosner, S., & Shropshire, K. L. (2011). The business of sports. Sudbury, MA: Jones & Bartlett Learning.
Siegfried, J., & Zimbalist, A. (2000). The economics of sports facilities and their communities. The Journal of Economic Perspectives, 95-114.
Stewart, B. (2014). Sport funding and finance. London: Routledge.