Abstract
The aim of this research is to evaluate the financial strengths of football clubs comparatively on an international scale. In this regard, the financial strengths of 24 football clubs from six national leagues affiliated with the Union of European Football Associations (UEFA) were examined using the Piotroski F-Score method. During the analysis process, nine financial indicators under the categories of profitability, liquidity-leverage, and operational efficiency for the period 2019-2023 were calculated and scored from 0 to 9. The research concluded clubs exhibit moderate financial strength, indicating investable profile. In terms of average F-Score values, Bayern Munich and Sporting Lisbon emerged as the most successful clubs, while Lazio and AS Roma were identified as the least successful. The evaluation of the nine financial indicators revealed changes in paid-up capital, earnings quality, and cash flows from operating activities as the most successful. Conversely, return on asset, changes in leverage, and changes in gross profit margin were the least successful financial indicators.
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