Hamil, Sean and Holt, M. and Michie, J. and Oughton, C. and Shailer, L. (2004) The corporate governance of professional football clubs. Corporate Governance: The International Journal of Business in Society 4 (2), pp. 44-51. ISSN 1472-0701.
Abstract
Professional football clubs in England face serious financial and operational difficulties and challenges. Our survey reveals that less than a quarter of football clubs responding had an internal audit committee. Even where clubs had an audit committee, almost one third of those clubs report there being no regular board review of risk assessment reports. The need to undertake risk assessment is now accepted as part of good corporate governance. The collapse of the ITV Digital agreement, which led to Football League clubs losing significant revenue, forcing some into administration, simply illustrates the reasoning behind the practice (following the Turnbull Report). Football clubs (and the companies that own them) need improved corporate governance practice, financial planning and risk assessment procedures; 76 percent of clubs responded that they would benefit from a guide to good corporate governance and 80 percent that they would find advice on Company Law useful.
Metadata
| Item Type: | Article |
|---|---|
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Research Centres and Institutes: | Birkbeck Sport Business Centre |
| Depositing User: | Administrator |
| Date Deposited: | 01 Oct 2019 12:25 |
| Last Modified: | 02 Aug 2023 17:54 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/29192 |
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