Author: Soummyadip Mandal
DOI Link: https://doi.org/10.70798/Bijmrd/03060024
Abstract: In the rapidly evolving domain of contemporary sports, financial management has become a critical determinant of sustainability, growth, and performance. This study explores the role of Strategic Financial Management (SFM) in sports programs across various levels, including grassroots, institutional, and professional settings. The paper examines key challenges such as limited funding, inadequate financial literacy, irregular revenue streams, and ineffective budget planning that hinder the efficient operation of sports organizations. It further investigates how global economic fluctuations, digitalization, and market competition intensify the need for agile and strategic financial responses. In addition to identifying the constraints, the study highlights opportunities for improvement through innovative practices such as diversified funding, public-private partnerships, and the use of financial technology. The research underscores the importance of aligning financial strategies with organizational goals to ensure long-term stability and competitive advantage. Ultimately, the findings provide valuable insights for sports administrators, policymakers, and stakeholders to adopt forward-looking financial strategies that foster resilience, inclusivity, and sustainable development in the sports sector.
Keywords: Strategic Financial Management, Sports Programs, Financial Sustainability, Budget Planning, Sports Administration.
Page No: 219-224