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Project financing examplified by stadium financing
Johann Kristoph Kaup
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Sozialwissenschaften, Recht, Wirtschaft / Betriebswirtschaft
Beschreibung
Seminar paper from the year 2016 in the subject Business economics - Investment and Finance, grade: 1,7, University of Applied Sciences Essen, language: English, abstract: Clubs need financial concepts to realise player´s transfers as well as the improvement of facilities like the club´s stadium. The second will be explored with this term paper. Foremost project financing is used in terms of stadium financing and other major infrastructural projects. But what do the participants have to consider in financing major projects? In doing so, what is important to accomplish the fulfilment of the project and what issues can arise? To answer these questions this work should give an insight into financing major projects exemplified by the stadium financing of FC Schalke 04 and Borussia Dortmund. In the course of this the main characteristics of project financing will be presented in detail. Also risks are displayed. The findings should lead to a recommendation of project financing for stadium financing. Within the professionalization of the football business in Germany clubs face more severe licensing standards defined by the Deutsche Fußball Liga (DFL). This includes infrastructural adjustments of stadiums as well as training grounds. Especially hosting the World Cup in 2006 introduced a modernisation of stadiums in Germany through the DFL and challenged clubs in terms of stadium financing. In Brazil the World Cup in 2014 and the recently finished Olympics in 2016 caused infrastructural adjustments in the hosting cities as well.
Kundenbewertungen
Financing, Risk Management, Stadium Financing, Project Financing