Professional Team Sports and the Soft Budget Constraint (Hardcover)


Exploring why professional team sport clubs are almost always able to survive despite financial mismanagement, inflated player salaries and persistent deficits, this book provides new evidence on how to explain this phenomenon. It looks at the context in which many clubs operate - the soft budget constraint - and how the clubs in this respect resemble state-owned enterprises in socialist countries or big banks in financial crises. Chapters discuss the challenge of hardening the budget constraint, including UEFA's Financial Fair Play regulation. They include new data about the soft budget constraint phenomenon, including evidence from Central and Eastern Europe. Leading scholars in the field develop the theoretical approach to the topic using institutional theory, dialogue with critics and discussions on the merits and limits of soft budgets. The book also investigates key case studies of bailouts and liquidation of professional sports teams. This will be an invigorating read for scholars and students of sports economics and sports management. It will also be helpful to managers and directors in professional sports clubs looking for a better understanding of the soft budget constraint.

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Product Description

Exploring why professional team sport clubs are almost always able to survive despite financial mismanagement, inflated player salaries and persistent deficits, this book provides new evidence on how to explain this phenomenon. It looks at the context in which many clubs operate - the soft budget constraint - and how the clubs in this respect resemble state-owned enterprises in socialist countries or big banks in financial crises. Chapters discuss the challenge of hardening the budget constraint, including UEFA's Financial Fair Play regulation. They include new data about the soft budget constraint phenomenon, including evidence from Central and Eastern Europe. Leading scholars in the field develop the theoretical approach to the topic using institutional theory, dialogue with critics and discussions on the merits and limits of soft budgets. The book also investigates key case studies of bailouts and liquidation of professional sports teams. This will be an invigorating read for scholars and students of sports economics and sports management. It will also be helpful to managers and directors in professional sports clubs looking for a better understanding of the soft budget constraint.

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Product Details

General

Imprint

Edward Elgar Publishing Ltd

Country of origin

United Kingdom

Series

New Horizons in the Economics of Sport series

Release date

September 2022

Availability

Expected to ship within 12 - 17 working days

Editors

, ,

Dimensions

234 x 156 x 22mm (L x W x T)

Format

Hardcover

Pages

246

ISBN-13

978-1-80037-598-7

Barcode

9781800375987

Categories

LSN

1-80037-598-0



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