Private Investment Management and Possible Return from Investments in Sports in Latvia

Humanitārās un sociālās zinātnes 2017
Mārtiņš Lauva, Uldis Grāvītis, Rihards Pāže

State institutions are the main organisers and maintainers of sports life in Latvia; however, they are unable to successfully provide equally good support to all athletes who are in need of it. It is particularly difficult to receive support for improvement of individual abilities for athletes engaged in team sports. Often enough, exactly the individual skill is the impediment for the majority of athletes that prevents them from moving from junior sport to seniors, even if they used to be highly talented and among the most skilled athletes in the country back in their youth. To assess shortcomings in the distribution of funds in the field of sports in Latvia, the descriptive statistics method as well as content analysis was used. Conclusions were made on the collected data, according to which a new method for sports management was developed and its efficiency was tested by means of an experiment. By analysing the most popular types of sports among youngsters in the country, as well as infrastructure therein, a conclusion can be made on the kinds of sports, wherein investments can be attracted most successfully. It can be concluded that the state can successfully resolve this problem by attracting private investors who would be personally interested in development of athletes and who would also carry out successful process of investment management. The study proves that the successful private investment process can ensure both positive return on investments and development of athletes. One way of establishing successful cooperation is to create high-class sports development centres or sports investment management companies, which would effectively promote the transition of athletes from junior sport to professional sport. By creating a company, as an example for the attraction of private investment in development of athletes, it is possible to prove the effectiveness of the created methodology. Development of athletes would become more effective and purposeful. It is necessary to shape sports as a possible object for investments with return satisfactory for investors, thus establishing tripartite cooperation between the state, athletes and private investors, benefiting each of them. Additional financing for development of athletes in Latvia would have a positive impact on the field of sports in general.

Keywords
Sports in Latvia, private investment, financing of sports, investment criteria, high level sports, sports development, effective management of investments

Lauva, M., Grāvītis, U., Pāže, R. Private Investment Management and Possible Return from Investments in Sports in Latvia. Humanitārās un sociālās zinātnes, 2017, Vol.27, pp.114-125. ISSN 1407-9291. e-ISSN 2255-8543.

Publication language
Latvian (lv)