Abstract
The majority of elite sport leagues and clubs are organized as profit-oriented firms that must be managed in the same way as any other professional business. In European sports, football is the most advanced sport in this regard. The top five European clubs, Real Madrid CF, FC Barcelona, Manchester United FC, Paris Saint-Germain FC and FC Bayern Munich, generated €2.61 billion during the 2014/2015 season (Deloitte Sports Business Group, 2016). Sponsorship, media and match day revenues from the largest 122 European football clubs reached €13.27 billion in 2014, which is equivalent to 67 per cent of the total revenues of the four major North American sports, the NFL, MLB, the NBA and the NHL (UEFA, 2015). European football leagues such as the English Premier League, the Spanish La Liga, the Italian Lega Serie A and the German Bundesliga are continuously seeking additional income.
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