Nowadays, the commercialization of sports is becoming increasingly commonplace since every sport club would like to generate income to support their club. The commercialization of sports is that aspect of the sports enterprise that involves the sale, display, or use of sport or some aspect of sport so as to produce income. Significant changes have taken place in sport in terms of increases in revenues. (Hassan and Hamil, 2010)
Figure 1: Expenses Breakdown from 2008 to 2014
In overall, the expenses keep increasing from 2008 to 2014. Cronulla Sharks allocated most of their expenses on football which is their main career in the club. Football clubs need to improve their infrastructure in order to support their athletes for the competition. …show more content…
Moreover, it also included the support facilities such as new small supermarket and specialty shops for cafes, sports medicine, pharmacy and club services.
This showed that Cronulla Sharks has put effort in the commercialization of sport. They are focusing on to create a cash flow to be utilised to improve the facilities and services to members.
The public was informed in February 2013 that the Cronulla Sharks may be involved in a drugs scandal (ABC News 2013).What followed was a period of intense and rigorous independent investigation by Australian Sports Anti-Doping Authority (ASADA) and the NRL. Poor governance leads to the management failure and causes Cronulla Sharks involved in the drugs scandal.
Governance is a set of relationships between a company’s management, its board, its shareholders and other stakeholders. Corporate governance also provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance are determined (OECD Ad Hoc Task Force on Corporate Governance 1999, p. 2).
There exists general agreement that good performance on the pitch will bring higher incomes (Szymanski and Kuypers, 1999; Deloitte & Touche 1999, 2000 …show more content…
Hibbert, a supplement sales representative for Advanced Sports Nutrition, was responsible for administering the majority of the second round of injections , prior to the team's following game against Penrith. Hibbert has no known medical qualifications.
Those issues showed that the board had failed to design a well-structured internal control system. Profound structural weaknesses allowed the players exposed to potential risks to their health and safety as well as the potential risk of using substances that were banned by AFL Anti-Doping Code and the World Anti-Doping Code.
On the other hand, Cronulla Sharks did not have an effective risk management strategy and process which showed this board did not meet the requirement of Principle 3.4. Cronulla Sharks and the coach, Shane Flanagan failed to take appropriate action when it became aware that unsafe practices had been employed in the administration of supplements to players.
Cronulla Sharks should review the likelihood and impact of all possible incidents and assess the actions required to minimise, avoid or eliminate potential risks.
Figure 2. Graph of Current Ratio from 2008 to
Figure 1: Expenses Breakdown from 2008 to 2014
In overall, the expenses keep increasing from 2008 to 2014. Cronulla Sharks allocated most of their expenses on football which is their main career in the club. Football clubs need to improve their infrastructure in order to support their athletes for the competition. …show more content…
Moreover, it also included the support facilities such as new small supermarket and specialty shops for cafes, sports medicine, pharmacy and club services.
This showed that Cronulla Sharks has put effort in the commercialization of sport. They are focusing on to create a cash flow to be utilised to improve the facilities and services to members.
The public was informed in February 2013 that the Cronulla Sharks may be involved in a drugs scandal (ABC News 2013).What followed was a period of intense and rigorous independent investigation by Australian Sports Anti-Doping Authority (ASADA) and the NRL. Poor governance leads to the management failure and causes Cronulla Sharks involved in the drugs scandal.
Governance is a set of relationships between a company’s management, its board, its shareholders and other stakeholders. Corporate governance also provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance are determined (OECD Ad Hoc Task Force on Corporate Governance 1999, p. 2).
There exists general agreement that good performance on the pitch will bring higher incomes (Szymanski and Kuypers, 1999; Deloitte & Touche 1999, 2000 …show more content…
Hibbert, a supplement sales representative for Advanced Sports Nutrition, was responsible for administering the majority of the second round of injections , prior to the team's following game against Penrith. Hibbert has no known medical qualifications.
Those issues showed that the board had failed to design a well-structured internal control system. Profound structural weaknesses allowed the players exposed to potential risks to their health and safety as well as the potential risk of using substances that were banned by AFL Anti-Doping Code and the World Anti-Doping Code.
On the other hand, Cronulla Sharks did not have an effective risk management strategy and process which showed this board did not meet the requirement of Principle 3.4. Cronulla Sharks and the coach, Shane Flanagan failed to take appropriate action when it became aware that unsafe practices had been employed in the administration of supplements to players.
Cronulla Sharks should review the likelihood and impact of all possible incidents and assess the actions required to minimise, avoid or eliminate potential risks.
Figure 2. Graph of Current Ratio from 2008 to