Tag: Business of Sports

Rishe

Olin’s own Patrick Rishe is featured in the January issue of Ingram’s Magazine as one of “50 Missourians You Should Know.” Rishe is the Director of the Sports Business Program and Senior Lecturer of Management.

Here’s an excerpt from Ingram’s profile of Dr. Pat as he is known on social media:

“His family instilled a passion for sports back in his hometown of Potsdam, N.Y., and mentors at his alma mater, UNC-Charlotte, “opened my eyes to how I could apply my passion for sports in both an academic and business setting,” says Patrick Rishe. Today, this sports economist is a professor in Washington University’s Olin School of Business, an author, and a nationally-regarded authority on all aspects of the intersection between sports and money.”

Link to the entire story here.

Before Super Bowl LI kicks off in Houston, analysis of the game’s economic impact on the city is already underway. Olin’s director of the Business of Sports program, Patrick Rishe, weighs in on the financial forecasts and concludes it’s best to wait until the game is over to measure revenue reaped by the local community. Here’s an excerpt from report in the Houston Chronicle:

Last year, right before Super Bowl L (that’s 50 for non-Latin speakers) in the San Francisco Bay area, Rockport guesstimated — without doing a full analysis — that the event would bring in $350 million for local communities. The official post-game analysis, done by a firm called Sportsimpacts, found the actual amount was closer to $240 million.

That study also incorporated both indirect and induced spending, and accounted for out-of-town spending and displaced tourism. But author Patrick Rishe — the director of the sports business program at Washington University in St. Louis — cautions against trying to draw parallels between different reports, since every firm has its own assumptions and methodologies and set of expectations from the host committee.

“Comparing economic impact studies across Super Bowls is risky business,” Rishe says, “and ultimately, a futile one.”

From the pre-Rio ban on Russian athletes to the Ryan Lochte apology for his bad behavior that overshadowed the final days of the 2016 Olympic Summer Games, Olin’s Director of the Business of Sports program has been in the spotlight sharing his expertise with the media. Here are a few of the highlights of Rishe’s commentaries on the Rio Olympics this summer.

FOX BUSINESS: Ryan Lochte’s Costly Mistake

NBC NEWS: Ryan Lochte Apologizes

FORBES: Horrific pre-Olympics press dooms Brazil’s economic returns from hosting 2016 summer games

MONEY.CNN: Olympic sports apparel wars

GLOBAL INTERESTS: Russian Athletes Banned

The opening ceremony for the 2016 Rio Olympic Games is set for Aug 5. But Olin’s Director of the Business of Sports program, Patrick Rishe, says these games may be tainted by more than doping scandals and fear of the Zika virus. He blames the International Olympic Committee’s bidding process for the many inefficiencies and failures of recent games to benefit the cities where they are held in a recent opinion column on Forbes.com:

“The great irony of the Olympic Games over the last several decades is that the International Olympic Committee (IOC) wants bidding host cities to express in their bids how hosting the Games will have venue legacy impacts, yet the legacy in practice (more often than not) has been the wasteful erection of white elephants whose future community benefits are significantly less than the costs of construction and upkeep.”

Link to Rishe’s column on Forbes: The Inefficiencies Of The International Olympic Committee And Olympic City Site-Selection Process

Golden State Warriors’ star player Stephen Curry is nursing a Grade 1 MCL sprain and could be off the court for at least two weeks. Patrick Rishe, Olin’s director of the Business of Sports program, told CNBC that the MVP’s injury could have repercussions beyond the Warriors’ quest to defend their championship title. Curry is also Under Armour’s superstar endorser and Rishe says the sports apparel brand could feel some pain.

Watch CNBC video here.

Images: Under Armour