Crowdfunding in sports

The sale of naming rights to sport facilities is a widespread practice. However, there may be public resistance to naming rights because sport remains associated with tradition and local identity. In response, sport facility operators have searched for alternatives. The newest naming alternative comes from the stadium in Nuremberg, where the Consorsbank initiated a crowdfunding project. In this study, we primarily aim to evaluate the factors separating capital providers from non-participants and to determine which factors influence the investment decision. This study provides insights into a new financial instrument by focusing on a crowdfunding project in sport that was actually implemented. The findings, which are based on between-group comparisons and logit and probit regressions, indicate that participants who identify with the project are generally the most willing to participate in a crowdfunding project. Additionally, the findings underline the relevance of effectively integrating the most involved groups into a campaign.