Abstract
ABSTRACT Purpose/Rationale This article identifies whether domestic and foreign owners of professional football clubs in England have a different propensity to gamble on sporting success by spending excessively on wages. Design/Methodology/Approach Data on wages, revenue and profit was extracted from the financial accounts of the football clubs in the Premier League and Football League from 2009–2010 to 2018–2019 to identify seasons in which the clubs gambled. In each case the ownership of the club was classified as either domestic or foreign. T-tests were performed to identify any statistically significant differences in incidents of gambling related to ownership type. Findings Foreign owners have provided more financial stability to football clubs in the Premier League, with less propensity to gamble for success, than domestic owners. Practical Implications The research shows the importance of understanding differences in ownership and the objectives of club owners at a league level for professional football clubs in England. Research Contribution The paper uses gambling as an indication of sporting ambition and provides evidence on the relative priorities of owner types to prioritise profits or sporting success. Originality/Value Neither the relationship between ownership and sporting ambition, nor between the ownership of clubs in different leagues, has previously been addressed.
Published Version
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