Best practice governance principles in the sports industry: an overview

The paradigm of sport participation as well as sport management has shifted globally from amateur to professional levels. Sport now operates in the business environment as an economic entity and, as such, is more complex to govern. Concerns in corporate business practice such as globalisation of business that transcends national laws and the regulations of a single country, increasing pressure on companies to achieve superior financial returns and increased public expectations of accountable and transparent behaviour have resulted in the formalisation and development of codes for corporate governance. This overview examines the British and Australian models and codes of corporate governance since South African Company Law as well as Australian Company Law have their roots in British Company Law. From the literature seven pillars of good governance emerged and their applicability to sports governing bodies is argued. South African Journal for Research in Sport, Physical Education and Recreation Vol. 27(2) 2005: 1-1