KINGSTON – Sport Marketing Specialist, Carole Beckford is calling on CARICOM and Caribbean Governments to give up 1% of their 2024 – 2025 budgets towards a Sport Development Fund.
The Fund could be a partnership with existing agencies that have operations in the region.
Beckford says “with focus being placed now on the Paris 2024 Summer Olympic Games, T20I World Cup Cricket; there are other international competitions that the region’s best would be aiming for. These would include the World Cup Football men and women; Netball World Cup. The region has to be placed in a better position to win on and off the field.” She also feels a comprehensive plan with specific eligibility criteria can be developed to identify where the allocation goes and how much.
The Fund aims to focus on
- Technical
- Infrastructure
- Marketing and Business Development
- Research and Development
The funds are to be distributed based on criteria designed to enhance the four areas listed above.
Technical – there are several categories of athletes who are preparing for a number of regional and international games/championships over the next ten years and would need access to the most durable equipment. There could be a first time allotment of funds to import the listed and approved equipment. The applicable duty waivers could be applied as incentives. This could be for five years in the first instance.
Infrastructure – All regions have facilities to host major events and most need upgrades. The awards could be granted based on which country has commitments to host any regional and/or international events over the next ten years. The allocations would be based on detailed plans on events to come.
Marketing and Business Development – The athletes have largely done well on the field of play, but their post life plans could be enhanced by opportunities in the marketplace and ongoing awareness of how to plan for life changes. The allocations here would be based on the business plans and their forecast.
Research and Development – The suggestion that talent alone is enough does not hold and so, there are reasons why the athletes continue to perform. However, with all the environmental and related issues, times are changing and could affect how sport is managed, governed and even hosted. Funds here would focus on discussions on how the Caribbean can manage its resources in a more efficient way.
The recommendation is for a Team with expertise in:
- Commercial Planning
- Marketing
- Finance and Planning
- Governance
- Academic Development
Globally, the sport industry is estimated to value at least a billion dollars and there is more to access, but athletes need to be better prepared. The Caribbean as a region is a sporting destination, but there is always an opportunity to capture a bigger piece of that global pie with more intentional planning among the nations in the region.
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CaroleBeckford 