The Economics of English Soccer: Why the Financial Fair Play Regulations Were Necessary
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This thesis analyses the economics of present-day professional football (soccer), in order to understand how and why the Financial Fair Play Regulations were developed. The role of economics in football is not new and has existed since the founding of the football clubs. The thesis examines the extent to which the corporatization of the clubs has affected the sport. Given the influx of capital, it is somewhat perplexing that many clubs do not seek to make money and often deal with constant debt. This thesis begins with case studies of Liverpool Football Club and Manchester United Football Club, the two most successful clubs in English history. Then this thesis moves to describe the formation of the English Premier League and the court case known as the Bosman Decision, and the consequences of these actions. Finally, the thesis explores Financial Fair Plays Regulations produced by the Union of European Football Clubs. This thesis shows that the Financial Fair Play Regulations were developed as a response to the development of professional football in England as shown by the histories of Liverpool Football Club, Manchester United Football Club, and the English Premier League.