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Financial Conditions and Transparency of the Czech Professional Football Clubs

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  • David Procházka

Abstract

The UEFA approved the Club Licensing and Financial Fair Play Regulation in 2010, which governs the requirements on transparency and financial conditions of football clubs participating at the European cups. The paper focuses on the specifics of Czech professional football clubs. The research is carried out in two ways. Firstly, the compliance with information duties set up by Czech commercial law is analysed. According to the performed empirical survey, a significant number of Czech football clubs submit their financial statements to the Business Register with a delay or they do not submit the statements at all despite the submission is mandatory. This unsatisfactory state of affairs boosts the risk of bankruptcy of football clubs rapidly taking into account an overall poor financial health of Czech football clubs, which is evidenced by the second part of empirical study.

Suggested Citation

  • David Procházka, 2012. "Financial Conditions and Transparency of the Czech Professional Football Clubs," Prague Economic Papers, Prague University of Economics and Business, vol. 2012(4), pages 504-521.
    • Handle: RePEc:prg:jnlpep:v:2012:y:2012:i:4:id:437:p:504-521
    DOI: 10.18267/j.pep.437
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    Cited by:

    1. Havran, Zsolt & András, Krisztina, 2022. "A puha költségvetési korlát szindrómája a hivatásos labdarúgásban. Kitekintés a nemzetközi és a magyarországi sajátosságokra [The soft-budget constraint in professional football syndrome. A view of," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(2), pages 230-254.
    2. Andrews, Matt & Harrington, Peter, 2016. "Off Pitch: Football's Financial Integrity Weaknesses, and How to Strengthen Them," Working Paper Series 16-009, Harvard University, John F. Kennedy School of Government.
    3. Jan Molín, 2013. "Notes to the Auditor's Position when Corrupt Conduct Is Detected [Poznámky k roli auditora při odhalování korupčního jednání]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2013(3), pages 35-48.

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    More about this item

    Keywords

    information duty; transparency of financial reporting; financial health; Czech professional football clubs; UEFA´s Financial Fair Play;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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