Jsou pravidla finanční fair play spravedlivá a udržitelná? Případ anglické Premier League
Are the Financial Fair Play Regulations Fair and Sustainable? Case of English Premier League
David Procházka and
Politická ekonomie, 2021, vol. 2021, issue 1, 73-98
The paper investigates whether the Financial Fair Play Regulations have contributed to a sus- tainable economic framework of club football while retaining equal opportunities for sport success. Mutual relations among economic strength of football clubs, their financial aggres-siveness in investments into squads and league results after the implementation of the FFP rules are assessed. Using a dataset of the English Premier League clubs over 2011-2017, empirical data reveal that the league is economically sustainable in the long run. However, profitability improves by increasing broadcasting revenue, and clubs' profits are driven by their ownership structure rather than FFP. Furthermore, we identify a statistically signifi-cant financial aggressiveness in spending on squads. A regulation aiming at securing sustain-able economic development may, thus, curtail sport competitiveness of smaller clubs and boost dominance of teams that are economically strong around the time of regulation launch.
Keywords: football; FFP rules; competitiveness; sustainable development; revenue; profits; Premier League (search for similar items in EconPapers)
JEL-codes: M41 Z23 Z28 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlpol:v:2021:y:2021:i:1:id:1306:p:73-98
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