It is no longer news that sports and sporting activities have left the realm of merely creating entertainment alone as it used to be in the past it has now become a major player in the economy.Moreso analysis and researches by most sports experts have come to a conclusion that there is a need for sports particularly football to combine sporting performance with financial performance.
Nigerian football has been overshadowed by a number of challenges ranging from government intervention in running of football (which is contrary to Article 17 of the FIFA regulation) to administrative and funding problems. Whatever prompted the visit of Amaju Pinnick led NFF to No. 2-4 Customs streets Lagos the Headquarters of the Nigerian stock exchange (NSE) one can’t tell. Whether it was to perform the increasing popular of function of ringing the closing bell at the floor of the NSE which is more like a tradition these days or actually to cement a relationship between the two institutions as they claimed only God can tell.
However the visit and the purported aspirations of pinnick in which he expressed his hope that one day a clubs of the NPFL would be quoted on the stock exchange was the pedestal of this piece.
We take a look of how investment in sports(football) could impacts on country’s economy.
* Source of Revenue
The Barclay’s football as it is now called has the highest revenue of any football league in the world, with a total club revenue of 2.479billion in 2009/2010. It has also amassed a lot income from sell of television rights. For instance it was reported that television rights alone for 2010 – 2013 was purchased for 1.782 billion. In 2002 the premier league was awarded the Queens award for Enterprise in international trade category by Her Majesty Queen Elizabeth ll. Where it was recognized for its astounding contribution to international trade.
* Creates Value for the Media and Broadcasting industry
Aside from the benefits of revenue generation, it also creates value for broadcasting and media outfits. Perhaps we’ve had of heard of Sky sports, ESPN , BBC etc. This media outfits have achieved tremendous success and international reputation from their collaboration with the BPL.
*Serves as a source of income and job creation
The Bpl has continue to serve as a means of livelyhood to many both British and non British. It has also jobs to many as well.
Their has been a lot of infrastructural developments witnessed in Britain as a result of the Bpl. It ranges from Erecting of stadiums to building good roads , hospitals, hotels and whaterview.
*Destination for Sports tourist
Many soccer fans are in the habit of travelling to watch their club play live and this will boost the tourism sector.
*Development of the Capital Market
Bpl clubs like Manchester and Arsenal are quoted on the stock exchange. What this implies is that they could decide to raise capital freely through the buying and selling of shares.
*Source of Revenue to the Government
The Bpl also serves as a room for generation of revenue to the government through tax.
*Boost for the transport industry
We all know Heathrow and Gatwick Airports as one of the biggest in the world. Perhaps this wouldn’t have been possible without the Bpl.
By Joshua Jesse Kelvin a graduate of University of Maiduguri and a free lance writer.
Twitter handle @RealDrjj
Views expressed are solely that of author and does not represent views of www.omojuwa.com nor its associates