Professional football and Stock Exchange: experince in some European Leagues

Abstract

From January, 2002, the Sports Limited Companies (SAD) can quote in Stock Exchange in Spain. For several years, other European leagues take us the front part and the most excellent teams exchange their actions in the Stock exchanges. Nevertheless soccer has already had relation with the secondary market in Spain. In the present work, these experiences are revised and the necessary conditions are exhibited so that the SADs quote in Spain. On the other hand, a trip is done by different European Stock Exchanges to know the requisites demanded for the quotation of qualifications. In particular those of London, Portugal, Italy and Germany are analyzed. With this exercise, we try to discover the factors that have facilitated that numerous teams of Premier League and English First Division already quote, that two clubs - Oporto and Sporting of Lisbon - are already quoting in the Stock Exchange of Lisbon, or that in Italy two Roman teams negotiate his actions on the Secondary Market and recently the Juventus has been added to them. The proper characteristics of the markets, the financial culture of the different countries does that there is more or less widespread this form of search of resources. Also they are exhibited in this sense of comparative form as the investors have answered before this type of values. Finally, a study is done on the problems that the analysts find to consider the prices adapted to buy or to sell the actions of the clubs of soccer. A series of financial reports is analyzed on the A.S. Rome and the S.S. Lazio between May, 2000 and September, 2001.Soccer; Stock Exchange; finances