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Financial Conditions and Transparency of the Czech Professional Football Clubs

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  • David Procházka

Abstract

The UEFA approved the Club Licensing and Financial Fair Play Regulation in 2010, which governs the requirements on transparency and financial conditions of football clubs participating at the European cups. The paper focuses on the specifics of Czech professional football clubs. The research is carried out in two ways. Firstly, the compliance with information duties set up by Czech commercial law is analysed. According to the performed empirical survey, a significant number of Czech football clubs submit their financial statements to the Business Register with a delay or they do not submit the statements at all despite the submission is mandatory. This unsatisfactory state of affairs boosts the risk of bankruptcy of football clubs rapidly taking into account an overall poor financial health of Czech football clubs, which is evidenced by the second part of empirical study.

Suggested Citation

  • David Procházka, 2012. "Financial Conditions and Transparency of the Czech Professional Football Clubs," Prague Economic Papers, University of Economics, Prague, vol. 2012(4), pages 504-521.
  • Handle: RePEc:prg:jnlpep:v:2012:y:2012:i:4:id:437:p:504-521
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    References listed on IDEAS

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    1. Simon Rottenberg, 1956. "The Baseball Players' Labor Market," Journal of Political Economy, University of Chicago Press, vol. 64, pages 242-242.
    2. Edward I. Altman, 1968. "Financial Ratios, Discriminant Analysis And The Prediction Of Corporate Bankruptcy," Journal of Finance, American Finance Association, vol. 23(4), pages 589-609, September.
    3. Guido Ascari & Philippe Gagnepain, 2006. "Spanish Football," Journal of Sports Economics, , vol. 7(1), pages 76-89, February.
    4. Richard A. Posner, 1974. "Theories of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 5(2), pages 335-358, Autumn.
    5. Babatunde Buraimo & Rob Simmons & Stefan Szymanski, 2006. "English Football," Journal of Sports Economics, , vol. 7(1), pages 29-46, February.
    6. Carlos Pestana Barros & Julio del Corral & Pedro Garcia-del-Barrio, 2008. "Identification of Segments of Soccer Clubs in the Spanish League First Division With a Latent Class Model," Journal of Sports Economics, , vol. 9(5), pages 451-469, October.
    7. Sloane, Peter J, 1971. "The Economics of Professional Football: The Football Club as a Utility Maximiser," Scottish Journal of Political Economy, Scottish Economic Society, vol. 18(2), pages 121-146, June.
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    Cited by:

    1. Andrews, Matt & Harrington, Peter, 2016. "Off Pitch: Football's Financial Integrity Weaknesses, and How to Strengthen Them," Working Paper Series 16-009, Harvard University, John F. Kennedy School of Government.
    2. Jan Molín, 2013. "Notes to the Auditor’s Position when Corrupt Conduct Is Detected," Český finanční a účetní časopis, University of Economics, Prague, vol. 2013(3).

    More about this item

    Keywords

    information duty; transparency of financial reporting; financial health; Czech professional football clubs; UEFA´s Financial Fair Play;

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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