The impact of the sports and financial performance of European football clubs on their share prices

Luís Fernandes, Luís Miguel Costa



Purpose: The aim of this research is to analyse the shares of European football clubs listed on the stock exchange.

Methodology: This paper empirically examines the relationship between sports performance and financial performance indicators and the determination of the market price of a group of 9 European football clubs between 2016 and 2022. The empirical methodology selected was panel data.

Findings: The results indicate that the sports performance of football clubs plays a crucial role in determining the market prices of their shares. In addition, financial performance variables such as size, indebtedness and net return on sales also have a statistically significant influence on determining the share price of European football clubs.

Originality: This work aims to contribute to the development of the literature on the determinants of the share price of football clubs traded on the capital market and can be a very useful tool for potential investors in football clubs.

Keywords: Share price, football clubs, sports performance, financial performance, solvency ratio.

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