The financial challenges of hosting sports events: a problem of insufficient separation between decision-making and decision-control

Research question This article aims to explain that poorly functioning separation between decision-making, decision-control, and risk-bearing is a fundamental reason for the financial underperformance of major or large sport events. We look at empirical data from four sports events hosted in Norway: The 1994 Lillehammer Winter Olympics, 2011 International Ski Federation (FIS) World Skiing Championship, 2014 FIDE Chess Olympiad, 2017 Cycling Union (UCI) Road Championships. All these suffered financially.Research methods study were collected 66 semi-structured interviews different types documents, like guides reports filed by stakeholders, applications support, collaboration agreements, protocols meetings, e-mail correspondence, statements, budgeting documents.Results findings Through an examination previous literature, our analysis confirms drivers symptoms problems These are: exaggerated focus on legitimising event, soft-budget practices, interference political interests, so on. argue many factors could have been handled better if more consequent risk-bearing, decision-control was place.Implications propose decision-making function, means permanent independent entity responsible function. Such institution enhance knowledge transfer, contribute competence skills, improve outcome