Finance plays a bigger role in sports than most people think. It’s not just about budgets and reports. In sports, finance teams deal with real-time changes that affect decisions on and off the field. Weather, ticket sales, and team performance can shift plans overnight.
A freezing game day means extra costs. A winning season can raise revenue for the next year. This fast-paced environment needs finance teams who can plan, adapt, and support the business at every level.
Dan Crumb is the Chief Financial Officer of the Kansas City Chiefs. He has held this role for over 15 years. Before that, he worked in the NBA with the New Orleans Hornets and the bottled water industry. Dan now leads all financial planning for the Chiefs. This includes budgeting, forecasting, stadium planning, and international growth.
He also helped the team move from slow, manual spreadsheets to a faster, more accurate system using Vena. Dan believes strong finance teams need more than skill. They must think ahead, work with others, and understand how the business runs.
In this article, we’ll explore how FP&A in Sports works in real life. You’ll learn how finance supports game days, long-term plans, global growth, and better tools. You’ll also see what skills help FP&A teams succeed in this fast-moving industry.
How does FP&A in Sports shape the sports CFO role versus the corporate CFO role?
The finance work behind the scenes stays mostly the same. Both roles involve budgets, payroll, reports, and financial planning. But in sports, the game day adds many layers that a regular corporate job doesn’t have.recast cash. These tools help connect what happened with what’s likely to happen. That’s when real change starts.
Game Day Changes Everything
Game days come with new challenges. Weather, timing, and fan turnout affect how money is planned and spent.
For example:
- Cold weather means extra costs for hand warmers and heated spots in the stadium.
- Fans buy more jackets, gloves, and warm food.
- Hot drinks and comfort food sell more than usual.
If the game falls in winter, the team must plan early. Budgets change depending on how cold it gets and what’s needed to keep fans safe and warm.
Weather and Timing Influence Forecasts
Games later in the season often need higher budgets. Freezing weather affects what’s sold and how the team runs the event. These aren’t fixed costs. They change with the forecast.
Team Performance Affects Financial Outlook
Winning teams draw more fans and media. A Super Bowl appearance leads to better sales the next season. This changes how the CFO plans. Corporate jobs rarely deal with such quick swings in demand.
How does FP&A in Sports compare to other entertainment sectors?
Other venues, like resorts or indoor theaters, also face weather issues. But in sports, especially outdoor football, the weather can hit hard. A snowstorm on game day changes everything. The financial impact is fast and big.
How does FP&A in Sports support strategy and short-term priorities?
FP&A plays a key role in keeping football operations focused. They do this by removing distractions and supplying clear, timely information.
Supporting Operations Through Reliable Systems
Finance helps ensure all internal systems work without delays. These systems support long days for coaching and scouting staff.
They must stay up-to-date to match the pace of the team. FP&A also helps maintain tools used for analytics and scouting, which support game planning and decision-making.
Leading Strategic Projects
The finance team handles large projects that shape the future of the organization. These include:
- Stadium Planning: Running models to compare building a new stadium or upgrading the current one.
- International Growth: Forecasting budgets and revenue in seven global markets, including the UK and Germany.
- Media Ventures: Measuring the cost, risk, and return of producing sports films and documentaries.
Each project involves quick decisions. FP&A builds models that adjust fast based on feedback from states or partners.
Running Scenario Plans with Strong Data
In a changing environment, planning needs flexibility. The team builds best, worst, and middle-case models. They rely on clean, accurate data.
This includes internal numbers and market data like resale ticket prices. That helps set fair prices and adjust plans with confidence.
How does FP&A in Sports boost efficiency with technology?
Old budgeting used giant spreadsheets across 21 departments. It slowed things down and caused errors. Now, with tools like Vena, each department enters its numbers.
The system does the rest. No more back-and-forth or manual fixes. Teams can test options, adjust quickly, and immediately see the impact. This saves time and helps make better, faster decisions.
What is the impact of FP&A in sports on budgeting and forecasting through technology?
The Kansas City Chiefs’ finance team has seen major gains from automation. Before switching to Vena, budgeting was slow and full of manual work. Each department sent its data in large spreadsheets. Every small change meant hours of corrections and rechecks.
Budgets, once approved in May, will now be finished by early April. That means every department can act sooner and with more clarity.
From Reactive to Predictive Planning
The Chiefs’ finance team now focuses more on forecasting than just reporting. This shift helps them spot and act on new ideas quickly. When fans asked for better food and seating options, the team responded.
They built all-inclusive club areas, and every one sold out. They plan for every season the same way, stay ready, win or lose. That mindset helps the team respond fast and stay ahead.
How does FP&A in Sports build the right FP&A team?
The team looks for more than technical skill. They want people who:
- Understand finance, tech, and how the full business works
- Think ahead and treat each dollar like it’s your own
- Fit the team culture and support others.
Advice for Future CFOs
If you want to lead, look beyond your desk. Learn what other teams do. Support their work. Step in and help when you can. It builds respect and sharpens your view.
Think like an owner. Care about how choices affect the whole team. That’s how FP&A professionals grow into strong, trusted CFOs.
What does the future of FP&A in Sports look like, and what skills matter most?
FP&A is moving from support to strategy. It’s no longer just about reports. Now, it’s about helping lead business decisions. With faster systems and better tools, finance teams can give clearer direction on where to invest and why.
The Path Ahead for FP&A
FP&A will act more like a business partner in the next few years. The focus will shift to growth, planning, and results. Teams that use tools well and think long term will earn a bigger role in company decisions.
To do this well, FP&A needs more than numbers. People who protect resources, find value, and help others make smart choices.
What challenges does FP&A in Sports need to solve?
Many teams still spend too much time fixing data or working across many systems. These issues slow progress. Better software and stronger links between tools can reduce this pain.
Another issue is time. FP&A often joins too many meetings. Teams must protect their time and focus on work that drives results.
Skills to Grow a Career in FP&A
- Technical Knowledge: Know the basics—finance, accounting, and how to work with data and tools.
- Certifications” A CPA or CGMA shows that you understand both rules and strategy.
- Communication Skills: You must explain numbers in a way anyone can understand, regardless of background.
- Cultural Awareness: Learn how your company works. Fit into that culture and help it grow stronger.
To grow in FP&A, build trust, learn fast, and always stay ready for change. Skills matter, but mindset matters more.
Conclusion
FP&A in sports is key to helping teams make faster and smarter decisions. It supports both daily needs and long-term plans. From managing game-day budgets to leading big projects like stadium planning, the finance team stays involved at every step.
Unlike regular corporate roles, sports finance teams deal with fast changes. Weather, ticket sales, and team performance can shift plans quickly. That’s why strong forecasting and clear data matter so much.
Technology also helps. Tools like Vena make budgeting quicker and more accurate. Departments can now manage their numbers and test different plans with ease.
Strong FP&A teams are more than just skilled. They think ahead, support others, and treat each dollar like their own. They also understand how the full business works and how their work affects every department.
Looking ahead, FP&A teams will continue to act as business partners. They will help guide spending, measure risk, and support growth. To do that well, they need the right tools, clear thinking, and teamwork.
For anyone building a career in this field, stay curious, take ownership, and keep learning. Those who combine skill with the right mindset will play a big part in the future of FP&A in Sports.
FAQs
What does a typical day look like for someone in FP&A in Sports?
They usually review financial data, update forecasts, meet with other departments, and support game-day or event planning.
How does FP&A in Sports handle last-minute schedule changes?
They update forecasts quickly using flexible models and clear data to adjust real-time budgets and resource needs.
What tools are most useful in FP&A in Sports beyond Vena?
Tableau, Power BI, and Excel are widely used for reports, dashboards, and quick scenario testing.
How does FP&A in Sports track return on investment for sponsorships?
They compare the cost of the sponsorship to direct and indirect revenue generated, including ticket sales and brand exposure.
How is fan feedback used in sports FP&A?
Teams collect feedback through surveys or sales data, then adjust budgets and services based on trends and preferences
