Research On The Forming Mechanism Of Contract Price Of Commercial Sports

Sports property transactions increasingly attracted the attention of academia and industry, research the transaction price on right to host sports events commercial is still a relatively new field. In this paper, the characteristics of a commercial property right to host sports events, characteristics of property rights transaction, a source of value and influencing factors were discussed. The Factors Index System was established through anglicizing 17 transaction agreements(contracts) related to the sports events and more than 20 articles closely related events, the importance of factors and index system were investigated. On this basis, the price mechanism of the right to host commercial sports events was discussed by the “Generalized Price Theory”, constructing the mechanism model.The main conclusions are:First, property ownership clear, the "market" as the dominant mode of operation,profit is an important purpose, the transaction is the way to realize the value is an important attribute of commercial sports events. Commercial Sports Event Right have private property rights, exclusive features, limited rights, Severability. Perspective from the transaction price, commercial sports as an intangible capital property, the value from human labor, including the majority of the direct and indirect producers,producers behind the media, especially the majority of the race spectators(eyeball attention);Second, the property of the right to host sports commercial events has the following characteristics: the righe is a non-physical property, able to realize the value-added assets, a strong asset accumulation and dependency, the organization consumption characteristics, value uncertainty, Scarce Commercial Sports Event is relatively scarce economic resources, an advance asset, a comprehensive asset.Through surveys: Population broadcast rights protection, sponsorship rights protection, tournament-level events in the same project, the level of participation and the number of tournament star athletes, the event attracted media quantity and level,scale events, event spread coverage geographical spread covering events, projects valued degree, athletes bonuses, contract costs, implementation costs, localgovernment support, the event sponsor of operational capability, the sponsor of the tournament and development capabilities, the strength of competitors play an important role in the transaction price, and the importance of these factors vary.Third, From trading perspective, the right to host business events has the following features: Diversified portfolio of transactions bring incompleteness transfer of property rights; The relative scarcity of monopoly trading business event sporting event brings strong additional transactions; "Posterior characteristics" transaction triggered event organizer reinvested resistance, higher information asymmetry and asset specificity and other features.Fourth,The price of right to host the sporting event is combined effects of cost mechanism, supply and demand mechanism, information mechanism, the mechanism of the game. Based on a comprehensive analysis, the price mechanism formula of the right to host event obtained: Event host city of the transaction price = cost event(Event transfer Fang) + races transaction costs(Race transferor) + future revenue sharing(advertising, sponsorship transfer discount) + Game Price(with competitors,event owner price game)...