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    Soft budget constraints in professional football

    Storm, R. and Nielsen, Klaus (2012) Soft budget constraints in professional football. European Sport Management Quarterly 12 (2), pp. 183-201. ISSN 1618-4742.

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    Abstract

    Professional football in Europe is characterized by persistent deficits and growing debts among the majority of the top league clubs. Despite these problems, the clubs have an abnormally high survival rate. This paper focuses on this apparent paradox and poses the question: Why do only very few European professional football clubs go out of business even though they operate chronically on the edge of financial collapse? The paper argues that the paradox can be explained by the fact that professional football clubs operate within soft budget constraints in a way which is similar to the role of large companies in socialist economies – a phenomenon which was first identified by the Hungarian Economist János Kornai.

    Metadata

    Item Type: Article
    Keyword(s) / Subject(s): soft budget constraints, European professional football, economics of sport
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Management
    Research Centres and Institutes: Innovation Management Research, Birkbeck Centre for
    Depositing User: Administrator
    Date Deposited: 05 Jun 2013 11:54
    Last Modified: 06 Dec 2016 10:09
    URI: http://eprints.bbk.ac.uk/id/eprint/7247

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