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Financial Fair Play in European Club Football What is it all about?

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Author Info

  • Egon Franck

    ()
    (Department of Business Administration (IBW), University of Zurich)

Abstract

The new UEFA Club Licensing and Financial Fair Play Regulations have encountered stiff criticism. The concerns are that the new regulations may harm football in three different ways: By forgoing the potential benefits from substantial injections of external money into payrolls, by restricting competition in the player market without at the same time achieving benefits from more balanced competition, and by creating some sort of barrier to entry which could freeze the current hierarchy of clubs. It is the purpose of this paper to take these concerns as a starting point for discussing the true objectives of the new regulations. As a by-product it will become obvious why and in which points the concerns are unfounded.

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File URL: http://repec.business.uzh.ch/RePEc/zrh/wpaper/328_IBW_full.pdf
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Bibliographic Info

Paper provided by University of Zurich, Department of Business Administration (IBW) in its series Working Papers with number 328.

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Length: 34 pages
Date of creation: Jun 2013
Date of revision:
Handle: RePEc:zrh:wpaper:328

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Postal: Rämistrasse 71, CH - 8001 Zürich
Web page: http://www.business.uzh.ch
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Related research

Keywords: Financial Fair Play; Soft Budget Constraints; Hard Budget Constraints; Moral Hazard; Rent-Seeking; Sugar Daddies; Competitive Balance; Ossification;

This paper has been announced in the following NEP Reports:

References

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  1. Maskin, Eric S., 1996. "Theories of the soft budget-constraint," Japan and the World Economy, Elsevier, vol. 8(2), pages 125-133, June.
  2. Edward P. Lazear & Sherwin Rosen, 1979. "Rank-Order Tournaments as Optimum Labor Contracts," NBER Working Papers 0401, National Bureau of Economic Research, Inc.
  3. Mathias Dewatripont & Eric Maskin, 2004. "Credit and efficiency in centralized and decentralized economies," ULB Institutional Repository 2013/9605, ULB -- Universite Libre de Bruxelles.
  4. Wladimir Andreff, 2011. "Some comparative economics of the organization of sports: competition and regulation in north American vs. European professional team sports leagues," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 8(1), pages 3-27, June.
  5. Helmut M. Dietl & Egon Franck & Markus Lang, 2008. "Overinvestment In Team Sports Leagues: A Contest Theory Model," Scottish Journal of Political Economy, Scottish Economic Society, vol. 55(3), pages 353-368, 07.
  6. Egon Franck, . "Private Firm, Public Corporation or Member`s Association – Governance Structures in European Football," Working Papers 0106, University of Zurich, Institute for Strategy and Business Economics (ISU).
  7. J�nos Kornai & Eric Maskin & G�rard Roland, 2003. "Understanding the Soft Budget Constraint," Journal of Economic Literature, American Economic Association, vol. 41(4), pages 1095-1136, December.
  8. Wladimir Andreff, 2011. "Some comparative economics of the organization of sports: Competition and regulation in north American vs. European professional team sports leagues," Post-Print halshs-00677436, HAL.
  9. PEETERS, Thomas & SZYMANSKI, Stefan, 2012. "Vertical restraints in soccer: Financial fair play and the English Premier League," Working Papers 2012028, University of Antwerp, Faculty of Applied Economics.
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