Written by European professors and focusing on the specificities of European sport, When Sport Meets Business analyses the growing commercialisation of professional sport in recent years and explains how it has developed into a major global industry. Structured into four sections, the book covers the key issues in the Business of professional sport: The New Sport Environment – Analysing the consequences of increasing commercialisation by looking at the multi-billion dollar sports goods industry; the effects of globalisation and how commercial influences have made running one of Europe’s most popular sports. Sport Marketing and Media – Investigating the role media and marketing has in commercialisation, with emphasis on the growth of sponsorship; media rights in European club football and the growing influence of social media in sport. Sport and Finance – Relating to the economics of European sport: there is an investigation into the financial policies employed by European Football clubs, specifically in regards to the Financial Fair Play regulations, and the topical issue of high level corruption. Sporting Events – Looking at additional factors that affect professional sport: highlighting the impact an Olympic Games can have on a host city and the longevity of an Olympic urban legacy. To guide readers through this myriad of sports related content, the authors have included insightful case studies from across the continent, including anti RB-Leipzig media campaigns in Germany, financial policies at England’s Chelsea FC, French Tennis Federation corporate responsibility, Media rights in Spain’s LaLiga, the sponsorship viability for Ukraine’s Klitschko brothers and the case of Denmark’s Viborg F.F. Suitable for undergraduate and postgraduate students studying Business, sports management, sports economics, sports policy, and any other sports studies course.
Chapter 12: Financial Fair Play in European Football
Financial Fair Play in European Football
The need for regulation in European Club Football
According to the UEFA Benchmarking Report for the financial year 2011, the revenues of 700+ European top division clubs had grown by an average yearly rate of 5.6% in the preceding five years to a record total of €13.2bn. The 26 European top divisions with the biggest aggregate revenues had grown by 42% in five years (UEFA, 2013). While club revenues fluctuate more in the 27 mid and smaller top divisions, their aggregate revenues still increased by 29% in the same period, 2007 to 2011. The football industry was booming everywhere in Europe despite the challenging economic climate.
In the same ...