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By: Klaus Nielsen & Rasmus K. Storm

In: When Sport Meets Business: Capabilities, Challenges, Critiques

Chapter 11: Profits, Championships and Budget Constraints in European Professional Sport

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Profits, Championships and Budget Constraints in European Professional Sport
Profits, Championships and Budget Constraints in European Professional Sport
Klaus Nielsen Rasmus K. Storm
Introduction

The business of professional team sports is not an ordinary business. The competitive environment and the character of the product are indeed peculiar, which explains why consumers and producers behave differently from economic actors in other industries. In a ground-breaking article, Neale (1964) identified the need for uncertainty regarding the outcome of sporting contests as the reason for the many peculiarities of North American professional team sports, which takes place in closed leagues organized by monopolies. However, the peculiarities of team sport business in North America compared to the normal business enterprise are not ...

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