Catering and Hospitality:
Catering and hospitality is fast becoming one of the most lucrative forms of generating revenue for professional sporting franchises and clubs.
In 2006/07 West Ham United generated ₤4.7m from its catering and hospitality exercises, such as lunches, dinners, fundraisers and of course the sale of corporate box seats on match days.
West Ham United Hotel:
In 2001 West Ham reconstructed their main grandstand at Upton Park. The new Dr Martens’ Stand now includes all of the club's offices, board rooms, suites, dressing rooms, the official club store, the club museum and the new West Ham United Hotel.
The hotel is open year-round, and on a match day can take in up to ₤100,000.
Many clubs are now doing the same when constructing new stands, with Arsenal and Chelsea also incorporating hotels into their stadiums following reconstruction work.
New Shirt Sponsorship:
In 2006 West Ham United signed a deal with XL Airlines to be their official shirt sponsor for 3 seasons. It also entitles XL to 80% of the hoarding space available at Upton Park. The deal is worth almost ₤2.5m a season to the Hammers.
References:
BBC News
Accessed on 25th August, 2008
http://news.bbc.co.uk/1/hi/business/5032978.stm
Bobby, D. 2002. Can a Sports Club be a brand? Sports business International, April 2002, pp 1
Branscombe, N.R., Wann, D.L. 1991. The positive social and self-concept consequences of sports team identification. Journal of Sport and Social Issues. Vol. 15, pp. 115-127
Crompton, J. 1995. Economic impact analysis of sports facilities and eleven sources of misapplication. Journal of Sports Management. Vol. 9, no. 1, pp. 14-35
Crompton, J., Howard, D. 2003. Financing major league facilities: Status, evolution and conflicting forces. Journal of Sport Management. Vol. 17, no. 2. pp. 156-184
Forbes.com
Accessed on (19th August, 2008)...