The complexity that surrounds football as sport and as business, led us to question how corporate communication and reputation management might help build a balance between financial control and great achievements in football competitions. With the purpose of studying this issue, an exploratory single case study research was conducted. The choice was the Portuguese club FC Porto, and its sports operating company, FC Porto – Futebol, SAD, which can be regarded as a Category of One company. The findings suggest that even if corporate reputation is not a core issue for the club, the role of communication and the effective attention on reputation management might help the club to benefit from a better stakeholder management
