Football finance and Covid-19

Sports Economics Review Pub Date : 2023-11-08 DOI:10.1016/j.serev.2023.100021

Mobolaji Alabi, Andrew Urquhart

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Abstract

This study looks at the financial performance of top English football clubs to understand the impact of the Covid-19 pandemic. Our analysis focuses on English Premier League (EPL) and English Football League (EFL) clubs that have participated at least once in England’s highest league, the EPL. Using panel data methodology from 36 clubs between 2005 – 2021, we quantify the impact and severity of Covid-19 on top English football clubs’ financial performance. We find statistically significant evidence that profitability deteriorated during the pandemic with EPL clubs more reliant on matchday revenue the most impacted. Both financial stability and indebtedness deteriorated during the pandemic but the deterioration was not statistically significant. EFL clubs were the most impacted by reduced financial stability and increased indebtedness. These findings are vital for football’s regulators as it provides empirical evidence on the stability of the industry and also provides insights football club owners on strategies they can adopt to survive during external shocks to the industry

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足球财经与Covid-19

本研究着眼于英国顶级足球俱乐部的财务表现，以了解Covid-19大流行的影响。我们的分析重点是英超联赛(EPL)和英格兰足球联赛(EFL)中至少参加过一次英格兰最高联赛的俱乐部。利用2005年至2021年间36家俱乐部的面板数据方法，我们量化了Covid-19对英国顶级足球俱乐部财务业绩的影响和严重程度。我们发现有统计学意义的证据表明，在疫情期间，英超俱乐部的盈利能力恶化，更依赖比赛日收入的影响最大。金融稳定性和债务状况在大流行期间都有所恶化，但这种恶化在统计上并不显著。受财务稳定性下降和债务增加影响最大的是EFL俱乐部。这些发现对足球监管机构至关重要，因为它提供了行业稳定性的经验证据，也为足球俱乐部老板提供了在行业外部冲击中生存的策略

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Sports Economics Review

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