中国大型体育赛事融资模式及其创新

Financing Model and Innovation of China’s Large-scale Sports Events

全球大型体育赛事的融资主要有政府投融资、市场化投融资和混合投融资3种模式,混合投融资模式逐渐占据主流。基于项目分类法来看,公益性项目主要依赖于政府全额投入,准公益性项目一般由政府先期主导,同时吸引社会资本参与,而经营性项目的融资主要由企业自主筹资。从创新方向上看,公益性项目适合于政府投融资模式,但要对部分项目进行以PFI为导向的制度创新;准公益性项目应灵活运用PPP等方式吸引社会资本参与;经营性项目应尝试资产证券化和建立体育产业投资基金。融资模式的创新需要政府从法律法规、人才建设、制度建设等方面加以保障。

The financing modes of global large-scale sports events mainly include government investment and financing mode,market-oriented investment and financing mode,and mixed investment and financing mode.The mixed investment and financing mode gradually occupies the mainstream.Based on the project classification,public welfare projects mainly depend on the government’s full investment.Quasi-public welfare projects are generally led by the government in advance,while attracting the participation of social capital,but the financing of business projects is mainly funded by enterprises themselves.From the perspective of innovation direction,public welfare projects are suitable for government investment and financing mode,but some projects should be innovated with PFI-oriented system;quasi-public welfare projects should be flexibly used to attract the participation of social capital,such as PPP;operating projects should try asset securitization and establish the direction of sports industry investment fund.The innovation of financing mode needs to be guaranteed by the government from the aspects of laws and regulations,talent construction and system construction.