Professional Team Sports and the Soft Budget Constraint

• Author(s): Storm, Rasmus K., Nielsen, Klaus, Havran, Zsolt,
• Publisher: Edward Elgar Publishing
• Pages: 246
• ISBN_10: 1800375999
  ISBN_13: 9781800375994
  
• Language: en
• Categories: Business & Economics / Economics / Microeconomics , Sports & Recreation / Business Aspects ,

Description:... 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.