Theo Epstein, general manager of the Boston Red Sox, has one ofthe most coveted jobs in Boston, and not just because the Red Soxbecame a championship team after 86 years of trying. Sports marketinghas become a popular field, and business schools are offeringeverything from one class at MIT to a full major at the University ofMassachusetts at Amherst.
Daryl Morey, a 2000 graduate of MIT's Sloan School of Managementand senior vice president of operations and information for theBoston Celtics, said teaching the business of sports comes at aperfect time.
'New business approaches [from team managers] are provingsuccessful on the field. As a result, the Red Sox and the Patriotsare championship teams,' said Morey, who teaches sports managementclass at MIT's Sloan School of Management. 'The new ownership ofteams comes from venture capital and management consultingbackgrounds. They are analytical people and that is how they aregoing to run sports teams.'
At UMass-Amherst, students can earn a doctorate in sportsmanagement, which was moved in fall 2003 from the physical educationdepartment to the Isenberg School of Management, where it is one ofthe most popular programs. Department head Lisa Pike Masteralexis, a1987 graduate, said the students learn how sports affects communitiesand how to run a franchise.
Students learn business basics, including marketing, finance, andmanagement, as well as sports marketing, finance, law, history, andrace relations. They also discover unexpected opportunities,according to Masteralexis. 'If sports is their passion, we presentthem with their options. They might not realize what they wantbecause all they know is Theo, so we try to bring in different peoplein sports to talk to students about what they do,' she said.'Students don't think about working for the TD Banknorth Garden untilyou bring it to them. It doesn't seem sexy right away.'
Students are urged to focus on the bottom line and leave thechampionships and the glory to the players. 'Whether you're running[the team] as a business or a championship team, the goals are thesame: maximize profits,' said Morey.
Decisions behind the scenes can have more influence than action onthe court, according to Shawn Sullivan, vice president of ticketsales and service for the Boston Celtics. 'Business has changedsignificantly. While ticket sales remain primarily a relationship andcustomer service business, the tools have changed,' he said. 'Verysophisticated pricing and packaging is made possible by these toolsand a business background helps to use pricing and packaging tomaximize revenue.'
For those who would tackle ticket sales, labor disputes, and therest of the business of sports, Morey said the biggest asset ismotivation.
'The best part is that your skills are transferable,' he said. 'Ifyou fail, you've learned how to develop the skills and your skillsare transferable to other areas of business.'
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