The Role of Sports Sponsorships in Shaping Financial Strategy and Accounting Practices

Abstract

This research explores the pivotal role of sports sponsorships in shaping corporate financial strategies and accounting practices in Türkiye and European countries. As a strategic investment, sports sponsorships enhance brand visibility, drive revenue growth, and foster consumer engagement while presenting complex challenges in financial reporting and risk management. The research employs the Bee Colony Algorithm (BCA) to optimize sponsorship strategies, balancing investment costs, revenue generation, and intangible benefits like brand equity. By analyzing financial data, regulatory frameworks, and case studies, the study highlights how sponsorship agreements influence financial decision-making and compliance with accounting standards such as IFRS and TFRS. Key findings demonstrate that data-driven optimization can maximize return on investment (ROI) while ensuring transparent financial reporting. The research also addresses tax implications, risk management strategies, and the evolving landscape of sponsorships in digital markets, offering practical insights for sponsorship managers and theoretical contributions to sports finance literature.