Key points:
- The future of sports leadership starts in the classroom
- Perception gap: Students overestimate career readiness
- 7 workforce readiness strategies to give grads an edge
- For more news on career readiness, visit eCN’s Teaching & Learning hub
The sports industry is bigger than ever–projected to grow from $506.93 billion in 2024 to $629.81 billion by 2028. Yet, even in this booming market, professional sports teams can sell for billions and still struggle to turn a profit. Athletes are evolving into entrepreneurs, leveraging personal brands that sometimes outshine their contracts. Meanwhile, streaming services, AI-driven data analytics, and global markets are rewriting the rules of fan engagement. The business of sports has never been more dynamic–or demanding.
Despite these shifts, many higher-ed sports management programs remain stuck in the past, focusing on game operations while overlooking financial strategy, legal compliance, and innovation.
Future sports leaders won’t just need to understand the game; they’ll need to understand the market. As revenue models evolve and regulatory challenges grow, universities must adapt to ensure their sports programs reflect the complexity of the industry they serve.
How sports industry trends are changing the business of sports
The sports industry is undergoing rapid transformation driven by technology, globalization, and innovative revenue strategies. Digital platforms like streaming services, social media, and AI-powered analytics are reshaping fan engagement, making online interaction as critical as in-person attendance. Leagues are expanding their global reach through international media deals and sponsorships with multinational brands, while sustainability and social impact now play a key role in corporate partnerships and consumer loyalty. Emerging financial models, including private equity in team ownership, are also redefining how organizations generate revenue.
The rising valuations of professional sports teams have made ownership increasingly exclusive. Goldman Sachs reports that franchise values are now outpacing the purchasing power of many high-net-worth individuals, with teams like the Denver Broncos selling for $4.6 billion. This shift means that sports executives must now navigate high-stakes financial planning, revenue diversification, and investor relations to remain competitive.
The increasing commercialization of sports isn’t just reshaping professional leagues–it’s driving job growth. According to the U.S. Bureau of Labor Statistics, employment in entertainment and sports occupations is expected to grow faster than average between 2023 and 2033, with 108,900 new job openings per year. This demand signals a clear need for sports professionals who not only understand the game, but also possess financial, marketing, and strategic expertise.
What future sports leaders need to know
A deep understanding of the game has always been essential for sports professionals, but today, that’s only part of the equation. Strategic innovation, financial planning, and legal compliance are just as critical to success.
Strategic innovation is shaping the future of sports. Advances in AI, data analytics, and digital media are transforming how teams engage with fans and monetize their brands. Social media algorithms dictate audience reach, virtual and augmented reality enhance live experiences, and direct-to-consumer models challenge traditional broadcasting. Athletes are no longer just players; they are brands. Forbes notes that personal branding has become a key driver of success, allowing athletes, coaches, and executives to create new revenue streams and attract career-defining opportunities. The ability to interpret market trends, leverage new technologies, and develop forward-thinking strategies is now a fundamental skill for sports leaders.
Financial planning plays an equally crucial role. Media rights deals, sponsorship agreements, and private investments have made the economics of sports more intricate than ever. Beyond maximizing revenue, professionals must understand budgeting, forecasting, and risk assessment. Personalized fan experiences are now major revenue drivers, requiring leaders who can blend financial acumen with consumer insights.
Legal and regulatory challenges add another layer of complexity. NCAA compliance education remains a critical concern at the collegiate level. Beyond that, professionals must navigate collective bargaining agreements, intellectual property rights, and contract negotiations. Risk management–especially regarding player safety and mental health–has also become a growing priority. Leaders who understand the legal landscape will be better equipped to anticipate challenges and make informed decisions.
Those who master the intersection of sports and business will be the ones shaping the industry’s future.
How universities can keep up
Sports management programs have long focused on the operational side of the industry. However, as financial strategy, media rights, and global markets play a bigger role in shaping the future of sports, universities must take a broader approach. The most effective programs blend business education with hands-on industry experience.
1. Stronger integration of business principles is the first step. Core economics, finance, marketing, and management courses provide the analytical skills upon which modern sports leaders rely. But business education alone isn’t enough–it needs to be tailored to the realities of the industry. Specialized coursework in strategic sports marketing, facility management, sports analytics, and globalization can bridge the gap between theory and practice, giving students a clearer understanding of how business decisions impact the sports world. Institutions that adopt a sports education curriculum model designed for the industry’s current demands will help graduates stand out in a competitive job market.
2. Experiential learning is key. Internships, case studies, and industry partnerships provide students with real-world exposure, helping them build professional networks and gain hands-on experience before they graduate. Programs that embed these opportunities into the curriculum set students up for long-term success, preparing them to transition seamlessly into leadership roles.
3. Soft skills are just as important. Communication, negotiation, and problem-solving are critical in an industry where deals are made in boardrooms as often as on the field. Whether crafting a sponsorship pitch, navigating player contracts, or leading a team through a financial crisis, sports professionals need the ability to think critically and communicate effectively.
Programs that innovate in their approach to sports management education will set their graduates apart. The industry isn’t standing still–sports education can’t afford to either.
The future of sports leadership starts in the classroom
The sports business is more complex than ever, and future leaders will need more than a love for the game–they’ll need strong business, legal, and strategic skills. As technology, globalization, and new financial models reshape the field, sports management programs must adapt to stay relevant. Universities that blend business education with hands-on experience and critical thinking will best prepare students to lead in this dynamic landscape.
Shawn O’Rourke, Ph.D., is Dean of Wehle Business School at Canisius University, where he has been a faculty member for more than 25 years. He has played a pivotal role in developing and directing the university’s sport management, sport administration, and sport product development programs–helping them achieve national recognition.