Using Sport Financial Sustainability Principles to Develop an Optimal Strategic Financial Management Framework for Zimbabwe Premier Soccer League Teams.
- Author
- Bitoro, Tafadzwa
- Title
- Using Sport Financial Sustainability Principles to Develop an Optimal Strategic Financial Management Framework for Zimbabwe Premier Soccer League Teams.
- Abstract
- The study sought to develop an optimal strategic financial sustainability framework for Zimbabwe Premier Soccer League teams. This study used the concurrent mixed methods research design as the guiding model for data collection, analysis, and interpretation. In the qualitative strand, semi-structured interviews were used to collect data from ten (10) participants. In the quantitative strand, questionnaires were utilized to collect data from all eighteen (18) Premier Soccer League teams in Zimbabwe. The software tool NVivo version 12 was used to organize qualitative data into themes and Statistical Package for Social Sciences (SPSS) version 16 was used for descriptive statistical analysis and parametric tests. The findings revealed that the Zimbabwe Premier Soccer League teams are failing to contain their expenditure using the revenue they generate from their core operating and commercial activities exposing them to the risk of financial failure. Consequently, the Revenue Structure of Premier Soccer League teams in Zimbabwe is not grounded on financial sustainability principles resulting in the Premier Soccer League teams relying on internal controls for financial governance as opposed to sustainable regulations. The findings were used to develop the conceptual framework for achieving financial sustainability for Zimbabwe Premier Soccer League teams. The framework grouped numerous recommendations for financial sustainability from the study into two groups the internal controls and sustainable rules to achieve financial sustainability. The framework shows the potential for Premier Soccer League teams to move away from Red Financial Zone to a desirable financial model if all strategies recommended in the study are met, that is diversifying revenue streams, improving transparency, improving brand equity, improving stakeholder confidence, sustainability policy, and education. Finally, the study contends that if all of the identified strategies are implemented, the Zimbabwe Premier Soccer League teams can self-sustain and create employment for economic development as enshrined in the National Development Strategy One (NDS1)
- Date
- MARCH 2023
- Publisher
- BUSE
- Keywords
- Sport Financial Sustainability,Financial Management Framework, National Development Strategy One (NDS1)
- Supervisor
- Dr.L.T.Charumbira
