Directions: Create a budget worksheet based on the information listed below in the Case Study for Gils Sportsplex. Create two budget projections showing Best Case Scenario and Worst Case Scenario. Label each budget worksheet as Best Case Scenario and Worst Case Scenario.

The American Softball Congress is willing to bring a national championship to Gils place. It wants $30,000 for the rights to host the tournament. The tournament will bring in a significant amount of teams over a 5-day period. Gil feels he can get $5,000 back from the local hotels he directs the players to stay in which will be included in the best case scenario budget worksheet.

Worst case scenario he would get less than $5,000 in sponsorship opportunities which would be included in the worst case scenario budget worksheet.

Gil plans on charging each team $400 to participate.

It will cost around $2,500 in personnel time to prepare for and run the event.

Develop best-case budget worksheet where it shows 55 teams sign up for the tournament, most likely, and worst-case scenarios to make a profit if 40 teams register or if 55 teams sign up for the tournament. Develop a budget for the event and look at how much in concession sales is needed for the event to make a $5,000 profit.

Items to be included in both worksheets:

Revenue Expenses

Registration Fee Naming Rights

Sponsorship Personnel / Staffing

Concessions Choose two expenses

Choose two revenue streams

In total, there will be two Budget Worksheets Best Case Scenario and Worst Case Scenario. Each one should be labeled. Follow the format as provided in the example on Page 2. For Revenue, include Registration Fee, Sponsorship, and Concessions and then add two revenue streams.

For Expenses, include Naming Rights, Personnel / Staffing and then add two expenses related to running a tournament as a sports facility. Use the financial numbers provided as a base and then manipulate numbers accordingly to show a break even and a profit for the two budgets. ( answer with excel sheet)