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Financial Strength And Position Of Axa Video
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Sport finance experts have completed a year-long study into the financial state of English football. A year-long academic study into the financial state of English football has Funancial the strength of Liverpool's financial position but painted a rather grim picture for those chasing the dream. The research, authored by Dr Dan Plumley, Dr Rob Wilson and Dr Jean-Phillipe Serbera, looked at financial data from English football's top two divisions between and and painted a rather bleak picture for many clubs even before COVID wreaked havoc with the game's finances. The research hinged on the use of 'Altman's Z-Score', a financial equation that takes into account such things as working capital, retained earnings, earnings before interest and taxes, market value of equity and sales before coming out with a scale of one to three.
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Three represents a business in rude financial health that is spending within accepted parameters when it comes to turnover and at very little risk of bankruptcy. Between 2. Anything below 1. The paper takes a close look at the impact of financial fair play FFP regulations and how they, safety measures introduced in to try and limit the risk of financial crisis in clubs and to preserve competition, have had and impact.
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Plumley, Wilson and Serbera's research showed that the financial strength of the perceived 'big six' of LiverpoolManchester United, Arsenal, Chelsea, Manchester City and Tottenham Hotspur demonstrated an almost 'too big to fail' element, where the clubs were all pretty OOf safely around the three mark in relation to the 'Z-score' owing to their ability to generate considerable commercial revenue that other clubs simply cannot compete with and their regular European qualification. Plumley explained to the ECHO: "We looked at a separate discussion around the 'big six' and what we found was those six were better than the rest.
In some instances we found no instances of any real business risk in the big six and when we aggregated and looked at them as a whole, they are mostly okay in terms of financial risk. The big six are not risk free but more risk free than others.
The big six are becoming more dominant, they become bigger Ppsition bigger and stretch the gap, hence the calls for the European Super League, reform of the Premier Financial Strength And Position Of Axa and Project Big Picture. Everton's were a bit more fluctuating where as Liverpool's stayed broadly the same and a better picture of click risk. Plumley, whose research took into account the period of ownership under Tom Hicks and George Gillett before FSG took over, said that Liverpool had enjoyed a period of continued growth in the 10 years of stewardship under John Henry and Tom Werner et al.
In English football we tend to take a dim view on owners trying to take a profit from a business because fans think it should be reinvested into Poxition club. The City Football Group owners of Manchester City have a different model but I think we'll see more of that in the future from the big clubs.
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The research used as a starting point to allow a broader view each side of the introduction of FFP rules. Plumley said: "What we have seen in some instances, less so in the case of Liverpool and the bigger clubs, is that there has generally been a theme around Europe where financial sustainability has got better because of FFP but in some cases in English football we have found that it has got worse.
A lot of clubs gamble against FFP to try and close the gap at the top and then FFP has some unintended consequences because it is trying to do one thing and clubs risk financial stability by chasing promotion or the top six in the Premier League. The financial benefits of being in the Premier League, the richest league in the world, are clear and obvious with the bountiful amounts of TV money available. It's no surprise that clubs have decided to bet the house when it comes to trying to get Financial Strength And Position Of Axa slice of the pie. But that has led to a grim picture for clubs in English football's second tier. Get all Marketing Analysis Minit Lube latest Liverpool injury and team news as Klopp faces selection dilemma, plus Financial Strength And Position Of Axa news and analysis of what's next for the Reds.
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