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Financial Performance of Football Clubs and The Impact of The Covid-19 Epidemic: Comparison of the Five National League of Union of European Football Associations

Author

Listed:
  • Karadeniz, Erdinc

    (Mersin University)

  • Iskenderoglu, Omer

    (Nigde Omer Halisdemir University)

Abstract

The main purposes of this research are to comparatively analyse the financial performance of football clubs in national leagues in the European continent and to examine the effects of the Covid-19 outbreak on financial performance. In this context, the financial performance of 23 football clubs in five national leagues (Italy-Seria A, England-Premier League, Portugal-Liga Nos, Denmark-Superliga, Turkey-Super Lig) affiliated to the Union of European Football Associations (UEFA) and whose financial data are available between 2017-2021 was examined by the ratio analysis method. In the study, it was also tested with the wilcoxon signed rank test whether there is a statistically significant difference in the financial performance of football clubs between the pre-Covid-19 epidemic (2017-2019) and post-Covid-19 epidemic (2020-2021) period. As a result of the research, it has been determined that the liquidity and financial risk levels of football clubs are very high, whereas their profitability, activity and cash flow performance are very low. It was determined that the activity, profitability and cash flow performance of football clubs decreased further after the Covid 19 epidemic. On the other hand, a statistically significant difference was found only in terms of activity ratios and return on asset ratio in the context of the pre- and post-epidemic period.

Suggested Citation

  • Karadeniz, Erdinc & Iskenderoglu, Omer, 2022. "Financial Performance of Football Clubs and The Impact of The Covid-19 Epidemic: Comparison of the Five National League of Union of European Football Associations," Business and Economics Research Journal, Uludag University, Faculty of Economics and Administrative Sciences, vol. 13(2), pages 299-317, April.
    • Handle: RePEc:ris:buecrj:0594
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    More about this item

    Keywords

    Financial Performance; Ratio Analysis; Football Clubs; Covid-19 Outbreak; UEFA;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • Z20 - Other Special Topics - - Sports Economics - - - General
    • Z23 - Other Special Topics - - Sports Economics - - - Finance

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