Resource dependence in football clubs: An analysis of the interplay between capital gains from athletes and media revenues in Italian Serie A League

Journal title CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES
Author/s Gianluca Antonucci, Gaetano Spera
Publishing Year 2024 Issue 2024/2
Language English Pages 19 P. 11-29 File size 0 KB
DOI 10.3280/cgrds2-2024oa16960
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This study delves into the financial strategies of Italian Serie A football clubs, focusing on the relationship between revenues obtained through the sale of players' tags and those from broadcasting and media rights. Using Resource Dependence Theory (RDT) as lens, this research aims to understand how clubs strategically manage these two critical revenue streams amidst external pressures and dependencies. The analysis of balance sheet data, from nine clubs over eight seasons, reveals a significant negative correlation between the two variables for “long-lasting” clubs, suggesting a potential shift in strategies in response to external market conditions, while it finds different results from incoming and/or growing ones. The findings offer insights for stakeholders in the football industry, emphasizing the need for agile management and governance structures.

Keywords: ; Resource Dependence Theory; Football Clubs; Serie A; Capital Gains; Media Revenues; Financial Strategy

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Gianluca Antonucci, Gaetano Spera, Resource dependence in football clubs: An analysis of the interplay between capital gains from athletes and media revenues in Italian Serie A League in "CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES" 2/2024, pp 11-29, DOI: 10.3280/cgrds2-2024oa16960