Economic sustainability: a solution to the financial problems of football clubs

Abstract

Purpose Financial problems of football clubs during economic crises (such as COVID-19 pandemic) highlight the necessity of achieving economic sustainability. In addition, the economic sustainability of football clubs is accepted as a principle of the development of sports business. Therefore, it is reasonable to conduct a study with the aim of examining economic sustainability in the field of sports club management. Design/methodology/approach The present study adopted a qualitative approach to research and used semi-structured interviews in order to develop a framework for the economic sustainability of football clubs. A total of 13 members of football clubs in the Iranian premier league participated in this study. Findings The findings highlighted the fact that a number of factors, including media and social networks, entrepreneurship and development of club business, commercialization of the club, privatization, investment and ownership, strategic communication plan, financial management and management instability, promoted the economic sustainability of football clubs and improved their financial performance. Originality/value This study highlighted the importance of the changes in the structure of football clubs and the strategic plans for promoting entrepreneurship and commercialization. Moreover, it underlined the major role of the environmental and management components of football clubs in their financial sustainability.