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

J. Christian Müller (), Joachim Lammert () and Gregor Hovemann ()
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J. Christian Müller: SRH University Heidelberg
Joachim Lammert: Chemnitz University of Technology
Gregor Hovemann: Chemnitz University of Technology

International Journal of Sport Finance, 2012, vol. 7, issue 2, 117-140

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.

Keywords: financial fair play; integrity; licensing; regulation; rat race; sports leagues; professional football (search for similar items in EconPapers)
JEL-codes: L83 (search for similar items in EconPapers)
Date: 2012
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International Journal of Sport Finance is currently edited by Arne Feddersen, Babatunde Buraimo, Joachim Prinz and Jane Ruseski

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