The discussion of corporate governance in business is relevant for any discussion on the performance of governance in sport due to the increasingly corporate nature of professional sport. Corporate terminology is prevalent in many sports. In the AFL the game is sold as a “product”, financial viability of the clubs is an important strategic requirement, formal licensing agreements have been struck, and an increased emphasis is put on meeting stakeholders’ needs. The corporatisation of sport has many facets beyond the legal nature of the entity. It can refer to the structure, ownership, prime stakeholders, focus on sponsors, process of management and treatment of employees (including the players). The major sporting clubs in the US and the UK have embraced corporatisation to the extent that in the US many of the major Hockey, Baseball and Football franchises are listed stocks within the pro-sport industry (Garrity, 2000). Similarly, in the UK, the 20 Premier League clubs are listed on the London Stock Exchange.