Intro to Sport Management Chapter 10

Corporate governance model
Owners act as the board of directors, and the commissioner acts as the chief executive officer
Self governance
System in which leagues organize themselves (opposite of corporate governance)
Franchise rights
Privileges afforded to owners
Territorial rights
Limit a competitor franchise from moving into another teams territory without league permission and providing compensation to the rights holder
Revenue sharing
Gives a team a portion of various league wide revenue (expansion fees, national television revenue, gate receipts, and licensing revenues.)
corporate ownership
The ownership of a team by a corporation
public ownership
Ownership by stockholders via shares that can be freely traded on the open market
cross-ownership
The ownership of more than one sport franchise
Commissioner
The authority to investigate and impose penalties when individuals involved with the sport are suspected of of acting against the best interest of the game.
“League Think”
pioneered and implemented by NFL. Term represents notion that teams must recognize importance of their competition and share revenues to ensure that competitors remain strong
collective bargaining agreement (CBA)
A legal agreement between an employer and a labor union that regulates the hours, wages, and terms and conditions of employment
Impasse
A breakdown in negotiations
Franchise free agency
Team owners threaten to move their teams if their demands for new stadiums, renovations to existing stadiums, or better lease agreements are not met.
Premium seating
Personal seat licenses, luxury seats, and club seating
Gate Receipts
Revenue from ticket sales