Professional Team Sports and the Soft Budget Constraint

Rasmus K. Storm, Klaus Nielsen, Zsolt Havran (Herausgeber)

Buch | Hardcover

246 Seiten

2022
Edward Elgar Publishing Ltd (Verlag)
978-1-80037-598-7 (ISBN)

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Exploring why professional team sport clubs are almost always able to survive despite financial mismanagement, inflated player salaries and persistent deficits, this book provides new evidence on how to explain this phenomenon. It looks at the context in which many clubs operate – the soft budget constraint – and how the clubs in this respect resemble state-owned enterprises in socialist countries or big banks in financial crises.

Chapters discuss the challenge of hardening the budget constraint, including UEFA’s Financial Fair Play regulation. They include new data about the soft budget constraint phenomenon, including evidence from Central and Eastern Europe. Leading scholars in the field develop the theoretical approach to the topic using institutional theory, dialogue with critics and discussions on the merits and limits of soft budgets. The book also investigates key case studies of bailouts and liquidation of professional sports teams.

This will be an invigorating read for scholars and students of sports economics and sports management. It will also be helpful to managers and directors in professional sports clubs looking for a better understanding of the soft budget constraint.

Edited by Rasmus K. Storm, Head of Research, Danish Institute for Sports Studies, Denmark and Adjunct Associate Professor, NTNU Business School, Norwegian University of Science and Technology, Trondheim, Norway, Klaus Nielsen, Professor of Institutional Economics, Birkbeck University of London, UK and Zsolt Havran, Senior Assistant Professor, Corvinus University of Budapest, Hungary

Contents:

Foreword xvii
Miklós Rosta
Acknowledgements xx
Obituary, János Kornai (1928–2021) xxi
Klaus Nielsen
1 Introduction: new research pathways in the soft budget
constraint approach 1
Rasmus K. Storm, Klaus Nielsen, and Zsolt Havran
2 Soft budget constraints and institutional logics in European
Football 12
Bernt Arne Bertheussen and Harry Arne Solberg
3 Hardening the soft budget constraint in professional team
sports: why is it so hard? 33
Wladimir Andreff
4 Budget constraints in French professional football:
contrasting situations 77
Nadine Dermit-Richard and Aurélien François
5 Heterogeneity of budget constraints in Hungarian and
Polish football 103
Karolina Nessel, Zsolt Havran and Tünde Máté
6 The soft budget constraint syndrome in Hungarian
professional football from a Central and Eastern European
perspective 130
Zsolt Havran and Krisztina András
7 Is there evidence of softness in the budget constraint in
football? Some evidence from English clubs 155
Stefan Szymanski
8 Limits of softness in professional team sport clubs 172
Klaus Nielsen, Christian Gjersing Nielsen and Rasmus K.
Storm

Index

Erscheinungsdatum	09.09.2022
Reihe/Serie	New Horizons in the Economics of Sport series
Verlagsort	Cheltenham
Sprache	englisch
Maße	156 x 234 mm
Themenwelt	Sachbuch/Ratgeber ► Sport
Themenwelt	Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie
ISBN-10	1-80037-598-0 / 1800375980
ISBN-13	978-1-80037-598-7 / 9781800375987
Zustand	Neuware