Abstract
Any discussion on sustainable real estate would be incomplete without considering the impact of community sporting facilities on the environment and society. Despite there being over 700,000 community sporting clubs in Europe alone, sporting facilities have not been a major focus for sustainable real estate investment. This chapter examines the reasons why this is the case and offers a new model, “Community bonds”, based on the modern adaptation of debentures that were historically used as a financing mechanism to build community assets. Australia is used as a case study to outline a concept of how community bonds can be structured to unlock institutional investment and deliver social and environmental benefits.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsReferences
Australia Bureau of Statistics. (2013). Value of Sport, Australia (cat no 4165.0.55.002). Canberra. Retrieved August 15, 2017, from http://www.ausstats.abs.gov.au/ausstats/subscriber.nsf/0/A48910CF5F68EE18CA257C0D000F95F2/$File/4156055002_2013.pdf
Australian Bureau of Statistics. (2013, October 24). Sport Scores Goals for Aussie Economy. Australian Bureau of Statistics. Retrieved August 16, 2017, from http://www.abs.gov.au/ausstats/abs@.nsf/latestProducts/4156.0.55.002Media%20Release12013
Australian Government. (2015). The Australian Sports Commission’s Participation Game PLan. Retrieved August 16, 2017, from http://www.ausport.gov.au/__data/assets/pdf_file/0006/625902/PlaySportAustralia_brochure_MARCH_15_web.pdf
Badenhausen, K. (2015, July 15). The World’s 50 Most Valuable Sports Teams 2015. Forbes. Retrieved May 29, 2017, from https://www.forbes.com/sites/kurtbadenhausen/2015/07/15/the-worlds-50-most-valuable-sports-teams-2015/#3a1eac1227cb
Climate Bonds Initiative. (2016). Bonds and Climate Change: The State of the Market in 2016. Climate Bonds Initiative & HSBC Climate Change Center of Excellent. Retrieved May 29, 2017, from https://www.climatebonds.net/files/files/reports/cbi-hsbc-state-of-the-market-2016.pdf
Cordery, C. J., & Baskerville, R. F. (2011, 11). Understanding the Significance of Revenue Diversification in Nonprofit Sports Clubs. Victoria University, School of Accounting and Commercial Law. Retrieved May 29, 2017, from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1634476
Deloitte. (2017, 01). Deloitte Football Money League 2017. Deloitte. Retrieved May 29, 2017, from https://www2.deloitte.com/uk/en/pages/sports-business-group/articles/deloitte-football-money-league.html
Elton Consulting. (2015). Community and Cultural Facilities Strategic Plan. Hornsby Shire Council. Retrieved May 29, 2017, from http://www.hornsby.nsw.gov.au/__data/assets/pdf_file/0005/58937/Community-and-Cultural-Facilities-Strategic-Plan-August-2015.pdf
European Commission. (2007). White Paper on Sport. Luxembourg: Office for Official Publications of the European Communities. Retrieved August 15, 2017, from http://www.aop.pt/upload/tb_content/320160419151552/35716314642829/whitepaperfullen.pdf
Eurostrategies. (2011). Study of the Funding of Grassroots Sports in the EU. Retrieved May 29, 2017, from http://www.bloso-kics.be/Sporteneu/Documents/110601_EU_study_funding_grassroots_sports_finalreport_vol2.pdf
Fried, G. (2015). Managing Sport Facilities (3rd ed.). Champaign, IL: Human Kinetics.
Gayer, T., Drucker, A. J., & Gold, A. K. (2016). Tax-Exempt Municipal Bonds and the Financing of Professional Sports Stadiums. Brookings Economic Studies. Retrieved August 16, 2017, from https://www.brookings.edu/wp-content/uploads/2016/09/gayerdrukkergold_stadiumsubsidies_090816.pdf
Herriman, N. (2013, March 22). The Conversation. Australian Rules: How a Nation Fell in Love with Footy. Retrieved May 29, 2017, from http://theconversation.com/australian-rules-how-a-nation-fell-in-love-with-footy-12888
Jaekel, T. (2017). Modern Sports-for-All Policy: An International Comparison of Policy Goals and Models of Service Delivery—Working Paper no. WP BRP 04/PSP/2017. National Research University Higher School of Economics. Retrieved August 16, 2017, from https://wp.hse.ru/data/2017/03/06/1166665949/04PSP2017.pdf
Jeff Roorda and Associates. (2015). National State of the Assets. Australian Local Government Association. Retrieved August 16, 2017, from http://alga.asn.au/site/misc/alga/downloads/publications/ALGA_State_Of_The_Assets_Report_2015.pdf
Kumic, I., & Noble, G. (2017). Investing in Community Futures: A New Model to Invest in Communities.
McKenna, B. (2015, July 17). The Losing Game of Publicly Financed Sports Venues. The Globe and Mail. Retrieved August 15, 2017, from https://www.theglobeandmail.com/report-on-business/the-losing-game-of-publicly-financed-sports-venues/article25563294/
McKinsey Global Institute. (2014). Overcoming Obesity: An Initial Economic Analysis. McKinsey & Company. Retrieved July 31 2018, from https://www.mckinsey.com/~/media/mckinsey/business%20functions/economic%20studies%20temp/our%20insights/how%20the%20world%20could%20better%20fight%20obesity/mgi_overcoming_obesity_executive_summary.ashx
Povich, E. S. (2016, July 13). Why Should Public Money be Used to Build Sports Stadiums. PBS Newshour. Retrieved August 15, 2017, from http://www.pbs.org/newshour/rundown/public-money-used-build-sports-stadiums/
Putnam, R. D. (2016). Our Kids, The American Dream in Crisis. New York: Simon & Schuster.
Sheffield Football Club. (2017). Protect the Heritage of Football. Retrieved 08 15, 2017, from Sheffield Football Club: http://www.sheffieldfc.com/foundation
VAFA Women’s Football Club. (n.d.). VAFA Women’s Football Club Guide. Australia. Retrieved August 16, 2017, from http://www.vafa.com.au/wp-content/uploads/2015/02/VAFA-Womens-Football-Guide_v7a.pdf
Victorian Auditor-General’s Office. (2016). Local Government Service Delivery: Recreational Facilities. Retrieved August 16, 2017, from https://www.parliament.vic.gov.au/file_uploads/20160323-Rec-Facilities_8Lpv18Cc.pdf
White, D. (2016, May 9). The Guardian. Net Gains: Why Wimbledon Debentures Could Be Worth Their 31,000 Price Tag. Retrieved August 17, 2017, from https://www.theguardian.com/money/2016/may/09/wimbledon-debentures-31000-price-pros-cons
Women’s Game Kicks Off Boom. (2017, May 14). Herald Sun.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2019 The Author(s)
About this chapter
Cite this chapter
Noble, G. (2019). Sustainable Investing in Community Sporting Facilities. In: Walker, T., Krosinsky, C., Hasan, L.N., Kibsey, S.D. (eds) Sustainable Real Estate. Palgrave Studies in Sustainable Business In Association with Future Earth. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-94565-1_15
Download citation
DOI: https://doi.org/10.1007/978-3-319-94565-1_15
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-94564-4
Online ISBN: 978-3-319-94565-1
eBook Packages: Business and ManagementBusiness and Management (R0)