Doctor of Philosophy (PhD)



Document Type



This dissertation seeks to introduce financial modernization as a distinct subcategory of modernization and present practical applications for sport managers. Modernization literature has shown that, as society advances, levels of complexity increase. Modernization is generally concerned about the impact of technology, transportation, financial operations, and the reduction of risk in society (Seifried & Novicevic, 2017). These facets are not only important to established modernization subcategories, reflexive and ecological, but are also applicable to financial systems and demonstrate how financial modernization is both complementary and a distinct type of modernization. It is possible to take larger risks over time because so many different financial mechanisms are available.

Modernization also involve progress and change of society through introduced innovations including political structures, court systems, financial structures, and environmental pursuits, all of which apply to the sport industry. These innovations and/or structures stem from the maturation of capitalism, increasing interactions of community members, and interest in the wealthy to demonstrate their wealth and build more wealth for themselves and their community. Notably, these structures reflect the emergence of meritocracy and advancing demonstrations of civic pride. Furthermore, these examples are especially prevalent within the sport industry through a cursory examination of sport facilities and the increased luxuries and amenities sport spectators have come to expect. Moving forward, more composite and flexible financial models will be required to address the growing needs of sport industry stakeholders.

Within this dissertation, I will conceptually make the case for financial modernization using various primary and secondary sources. Next, I will present various areas of practical application for sport managers to consider. As a theoretical sample, I will connect my perspective on financial modernization to the history of intercollegiate stadia construction because it has grown increasingly complex over the years and required new ways to finance such projects. Finally, I will speculate about how the future of sport will undoubtedly include new types of business and organization partnerships, as well as involve impacts from sports betting, broadcasting, and other social influences. Collectively, these all could compel more inventive forms of financing options for successful integration into the sport industry.



Committee Chair

Seifried, Chad