Singapore Needs Improved Sports Business Education, Expert Says

June 25, 2012

Singaporeisinauniquepositiontotakeadvantageofopportunitiestotransformitselfintoahubofsorts,sayssportsmarketingexpertPatrickNally.
NallyiscreditedashavingredefinedsportsmarketingandmakingtheOlympicsandFIFAWorldCupintomulti-billion-dollarevents.
“Therearetwothingshappeninghere,”Nallysaid.”Youhavethebigeventswherepeoplecomeandgo,andthenyouhavepeoplestrugglingtotryandmakethingsworkatthelocallevel.
“Youhavesomeagenciesbuttheytendtobeinternationalones,whobenefitinbeingherefromataxpointofviewbutruntheirownsportsmarketingforotherpartsoftheworld.
“YoungtalentwhoseeitasacareerpathmustbedevelopedbecausenobodyIamawareofisrecruitingpeopleoutofSingaporeasnonearebeingtrainedinthatareahere.AndI’mtalkingaboutsportsasabusiness,notsportsmanagement.Ithinkthisisanopportunitymissed.”
“IfSingaporewassuddenlyhometothe10or20biggestsportingbrands,itwouldbeinastrongpositiontobeaglobalForbes100list,”Nallysaid.
“Ifyoulookattheamountofmoneythatthecountryisinvestinginsport,mygoodnessjustputasmallproportionintoeducationsothatpeopleunderstandthesportsindustry.Itwillactuallyreapsubstantialdividends,”hesaid.Singapore is in a unique position to take advantage of opportunities to transform itself into a hub of sorts, says sports marketing expert Patrick Nally.

 

Singapore could become an international sports business hub if the right education and guidance is provided for young people, says sports marketing expert Patrick Nally.

Nally is credited as having redefined sports marketing and making the Olympics and FIFA World Cup into multi-billion-dollar events.

“There are two things happening here,” Nally said. “You have the big events where people come and go, and then you have people struggling to try and make things work at the local level.

“You have some agencies but they tend to be international ones, who benefit in being here from a tax point of view but run their own sports marketing for other parts of the world.”

“Young talent who see it as a career path must be developed because nobody I am aware of is recruiting people out of Singapore as none are being trained in that area here. And I’m talking about sports as a business, not sports management. I think this is an opportunity missed.”

“If Singapore was suddenly home to the 10 or 20 biggest sporting brands, it would be in a strong position to be a global Forbes 100 list,” Nally said.

“If you look at the amount of money that the country is investing in sport, my goodness just put a small proportion into education so that people understand the sports industry. It will actually reap substantial dividends,” he said.