Handbook on the Economics of Professional Football
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Handbook on the Economics of Professional Football

Edited by John Goddard and Peter Sloane

In this comprehensive Handbook, John Goddard and Peter Sloane present a collection of analytical contributions by internationally regarded scholars in the field, which extensively examine the many economic challenges facing the world's most popular team sport.
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Chapter 6: Football finances

Stephen Morrow


The substantial increases in income enjoyed by top-level football clubs in recent years, coupled with the resultant benefits gained by elite players, have resulted in a markedly increased emphasis on the business of football. Indeed financial performance has become one of the dominant narratives about football, with regular commentary on financial success or failure at both league and club level. This chapter begins with an overview of information available about football finance, identifying academic, professional and new media sources. It continues with an analysis of the financial state of professional football, focusing both on its impressive high-level revenue figures but also on financial challenges faced by some of its leagues and clubs. This provides the context for a discussion on the theoretical case for financial regulation in professional football, and on financial regulation in practice, specifically the Union of European Football Associations (UEFA)’s Financial Fair Play (FFP) regulations. The chapter concludes with a section on political consequences of FFP.

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