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Private Sport Finance in Finland : New Socially Responsible Financing for Individual Athletes

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Private Sport Finance in Finland : New Socially Responsible Financing for Individual Athletes

This master's thesis dives into the shifting landscape of sports financing in Finland, emphasizing the historical reliance on state funding, particularly through Veikkaus Oy, the state-owned gambling monopoly. Many factors have resulted in diminished financial support for athletes and sports in Finland. To address this, new private funding entities have emerged.

The research investigates the motives of financial contributors in these entities, emphasizing socially responsible investing, responsible philanthropy, and responsible decision-making. Findings from ten respondents highlight motives such as social responsibility and community impact, with a focus on broader societal benefits over financial returns.

The theoretical framework comprises two content chapters illustrating the financing of individual athletes, the financial landscape of Finnish sports, and responsible funding forms, including socially responsible investing, impact investing, and responsible philanthropy. Methodologically, the study employs a qualitative study in which interviews and online questionnaire with open-ended questions were utilized to collect the empirical data. The research data is analysed through content analysis.

The findings provide insights into the responsibility of private funding entities in Finnish sports finance, emphasizing their potential impact in addressing challenges for athletes and the broader sports ecosystem. The study links sports finance with sustainable finance, highlighting a shift in investment mindset towards personal values and ethical considerations. Overall, the thesis contributes to understanding the rise of private funding in Finnish sports finance, its responsibility, and its ability to navigate financial challenges in the sports ecosystem.

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