Abstract
Abstract. The purpose of the study is the analysis of financial and economic aspects and assessment of current trends and prospects for the development of professional football industry as an independent academic field. In this article the following general scientific and applied methods were used: analysis and comparison — to determine the main trends in the development of top professional football clubs in the context of globalization; generalization — to establish the influence of institutional factors on the economic results of football clubs activity; expert assessments — to determine the market value of players in the global transfer market; abstract and logical methods — for theoretical generalization of the obtained results, forecasting the prospects for the development of European professional football and formulating conclusions of the study. The article deals with the analysis of financial and economic results of European football top clubs functioning in the pre-crisis period (before COVID-19). The author emphasizes the dualistic origins of modern professional football, which combines sports and commercial components. It is analyzed the impact of «Bosman case» and the rules of «financial fair play» on the professional football industry development in the context of globalization. The sources and structure of football top clubs income are also analyzed. The main focus is on European football, where current trends are most clearly manifested. The source of information was the annual reports of audit firms, specialized analytical laboratories and FIFA data. As a result of globalization processes, the author predicts the creation of full-fledged «SuperLeague» championship of top clubs with the greatest financial opportunities, as well as the appearence of polycentrism phenomenon in the world football industry. The forecast scenarios of football industry perspectives, formulated by the author, to substantiate the financial and economic aspects of clubs and players transfer market functioning, can be used in practice to assess the potential and formulate strategies for professional football leagues and clubs. Кeywords: «financial fair play», football industry, transfers, capitalization, investments, «Bosman case». Formulas: 0; fig.: 6; tabl.: 0; bibl.: 29.
Highlights
The globalization processes, which are inherent in the international economic system, have led to the rapid development of the sports market, the volume of which is approximately 471 billion dollars [1] — 0,5 % of world GDP
The share of revenues of the professional football organization FIFA, which represents the most popular sport and more countries than the UN, reached a maximum of 4.641 billion dollars in 2018 [2]. This indicates the dualistic origins of modern professional football, which combines socioal, cultural and commercial components: on the one hand — the sport with the greatest mass demand and elements of the show, on the other — as a specific and separate area of respectable business
Professional football is a specific type of commercial activity, where sports component is balanced with financial and economic; and we cannot state that one of the components is dominant
Summary
The globalization processes, which are inherent in the international economic system, have led to the rapid development of the sports market, the volume of which is approximately 471 billion dollars [1] — 0,5 % of world GDP. The share of revenues of the professional football organization FIFA, which represents the most popular sport and more countries than the UN, reached a maximum of 4.641 billion dollars in 2018 [2]. One of globalization changes consequences in the world football market is a migratory redistribution of the most talented and promising players by professional qualities (not by nationality) in favor of financially powerful European football clubs which are attractive employersimporters. According to the «CIES Football Observatory» data, the volume of investment payments of the European transfer market at the level of the «Big Five» clubs has increased over the past decade by 340 % to a new record: 6.6 billion euros in 2019, which is 10 % more than the previous maximum value of 2017; incl.
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