Score big with sports business stories

Even though I can’t tell the difference between a running back and a shortstop – nor do I wish to – I’m not immune to the allure of sports business stories.

They’re picturesque, very accessible to the audience, often reveal interesting behind-the-scenes detail and generally kind of sexy relative to run-of-the-mill financial fodder.

Besides, with standalone business sections becoming as scarce as Detroit Lions touchdowns, crafting a sports business package worthy of a sports cover or 1A placement will bolster the look of your clips file.

If your news organization lacks a sports business beat, this is the week to pitch one. The NFL season opener is Thursday, college football is just under way, baseball is heading into its stretch run before the playoffs, motorsports series are winding down – the list goes on. Hockey season starts October 1 and we haven’t even touched on preps, basketball, amateur leagues, wrestling federations and more.

Angles abound. You can explore the value of local franchises – often difficult with privately owned teams, but Forbes does a great job of covering the major leagues; here’s their 2009 story about the most valuable leagues in sports, to give you an idea of methodology. Poke around for their franchise rankings of specific sports, too.

Sports Business Journal and its sister publication, Sports Business Daily, are comprehensive, but expensive.

They do offer brief free trials, which would give you an idea of how business news is covered in various sports-related categories, from sponsorships to marketing. In a recession, particularly, companies are restricting monies spent underwriting expensive sports. Are they turning instead to more grass-roots involvement?

Advertising Age, the bible of the advertising industry – much of which is tied to live and broadcast sporting events – is available in libraries. It also offers free online content and e-mail newsletters.

For perspective, seek out consultants and academics. New York University offers a master’s degree in sports business; the North American Society for Sport Management lists many more. Their faculty may be great sources of local and regional story ideas.

Fantasy football, licensed merchandise, naming rights to ball fields – it all has a financial facet.

On a more nitty-gritty level, seek out suppliers – concessionaires, uniform makers, T-shirt imprinters, the firms that design and print tickets and programs, the collectibles peddlers, the high-end chefs in the VIP boxes. Somebody has to wash those uniforms, pick up discarded beer cups, stitch the baseballs, design the chassis and paint the goalposts.

Don’t overlook online. The behemoth home shopping networks regularly have pro sports hours featuring high-end merchandise and of course many people turn a dime selling memorabilia on eBay and its imitators.

Come back to Your Daily Tipsheet each morning for advice on where to find sources, background and creative ways to make financial news and trends relevant to your audience.