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The Financial Fair Play Regulations of UEFA: An Adequate Concept to Ensure the Long-Term Viability and Sustainability of European Club Football?

Author

Listed:
  • J. Christian Müller

    () (SRH University Heidelberg)

  • Joachim Lammert

    () (Chemnitz University of Technology)

  • Gregor Hovemann

    () (Chemnitz University of Technology)

Abstract

In response to the severe financial plight of many clubs that regularly take part in European competitions, UEFA developed the concept of Financial Fair Play as an extension of its licensing regulations. The aim of the concept is to curtail financial foul play in European football (nonpayment of liabilities owing to rival clubs or employees) and financial doping (excessive funding provided to cover losses arising from expenses for playing talent not balanced by revenues). The paper addresses the question if the Financial Fair Play is an adequate concept to ensure the long-term viability and sustainability of European club football as intended by UEFA. To answer this question, we illustrate the empirical background and search for a theoretical justification within the field of sport economics. Based on structuring UEFA’s objectives, we analyze and evaluate the major amendments of the Financial Fair Play Regulations.

Suggested Citation

  • J. Christian Müller & Joachim Lammert & Gregor Hovemann, 2012. "The Financial Fair Play Regulations of UEFA: An Adequate Concept to Ensure the Long-Term Viability and Sustainability of European Club Football?," International Journal of Sport Finance, Fitness Information Technology, vol. 7(2), pages 117-140, May.
  • Handle: RePEc:jsf:intjsf:v:7:y:2012:i:2:p:117-140
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    Cited by:

    1. Budzinski, Oliver & Müller, Anika, 2013. "Finanzregulierung und internationale Wettbewerbsfähigkeit: Der Fall Deutsche Bundesliga," Ilmenau Economics Discussion Papers 82, Ilmenau University of Technology, Institute of Economics.
    2. Marc Rohde & Christoph Breuer, 2016. "Europe’s Elite Football: Financial Growth, Sporting Success, Transfer Investment, and Private Majority Investors," International Journal of Financial Studies, MDPI, Open Access Journal, vol. 4(2), pages 1-20, June.
    3. Stephen Morrow, 2014. "Football finances," Chapters,in: Handbook on the Economics of Professional Football, chapter 6, pages 80-99 Edward Elgar Publishing.
    4. 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.
    5. Budzinski, Oliver, 2014. "The competition economics of financial fair play," Ilmenau Economics Discussion Papers 85, Ilmenau University of Technology, Institute of Economics.
    6. Budzinski, Oliver, 2017. "Sind Wettbewerbe im Profisport Rattenrennen?," Ilmenau Economics Discussion Papers 104, Ilmenau University of Technology, Institute of Economics.

    More about this item

    Keywords

    financial fair play; integrity; licensing; regulation; rat race; sports leagues; professional football;

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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