The Features of the Combination of Social and Economic Characteristics in a Modern Approach to Management of Sports

The management in sport is usually associated with a number of aspects and features of administration, adopted in national and international sports federations and organizations, but also in the past decades, sports management in most countries entirely absorbed the sphere of sports marketing. The development of sports business is associated with the marketing principle of customer-orientation, with an offer of expanded service package to the audience, with improving the quality of sports and entertainment services to viewers. Widespread use of sponsorship for the financing of sports and the application of marketing technologies for the organization of spectator flows suggests the formation of modern management concepts in the area of professional sport, which is based on a sports business (provision of recreational and sports entertainment services on a commercial basis). The paper concludes that sports business in professional sport and its elements in the sphere of amateur Olympic sports is formed by a combination of the two major levels or components - competition process of professional athletesand the organization of spectacular entertainment side of sports events. The paper distinguishes and describes seven key characteristics that reflect the actual combination of social and economic characteristics of sport management.