Sport is a widely used as a vehicle for promoting business. Global
brands invest tens of millions of euros in high performance athletes,
top teams, and popular sporting events. Studies have also shown the
potentiality of sport in the business context. However, relatively few
studies have focused on the interaction of business and sport from a
value-creation perspective. Knowledge focusing on value creation within
and through sport is scattered throughout literature and a systematic
understanding of how value creation manifests itself in a business
context is lacking. Using a systematic literature review and inductive
analysis of 44 empirical studies, the article presents six identified
topics that represent the various angles to value creation in the nexus
between sport and business. The topics are 1) the many shades of value,
2) brands and sponsorship as value-creators, 3) the value of CSR in and
through sport, 4) sport as a network and platform, 5) sport for
developing organisations internally, and 6) value congruence and
identification. The article contributes to both business management and
sports management. The article proposes theoretical and managerial
implications and identifies avenues for further research.