Damitio, James W.Schmidgall, Raymond S.2024-04-262018-11-132018-01-01https://doi.org/10.7275/qs7q-rp82https://hdl.handle.net/20.500.14394/31029The approach clubs take to evaluate capital budgeting projects has evolved over the years. This study provides evidence that clubs appear to continue favoring the payback approach to capital budgeting. In addition, the internal rate of return approach appears to be used more than in the past when evaluating projects. The study compares club capital budgeting practices over a four-decade time frame.capital budgetingclubsinternal rate of returnnet present valuepaybackrefereed