How European Soccer Clubs Are Lured to Game Accounting Rules

Press/Media: Expert comment

Description

The entire board of Italian soccer giant Juventus resigned at the end of November (2022) after being accused of false accounting - the latest in a long list of scandals across European football. Nothing has been proven and the team says it’s done nothing wrong, but if the allegations turned out to be true, it wouldn’t be the first time that one of Europe’s biggest and wealthiest clubs tried to cook the books.

Period16 Dec 2022

Media coverage

1

Media coverage

  • TitleHow European Soccer Clubs Are Lured to Game Accounting Rules
    Media name/outletBloomberg
    Media typeWeb
    Country/TerritoryUnited Kingdom
    Date16/12/22
    DescriptionUnder European rules, clubs can be penalized for losing too much money—and they face harsh penalties if they do.

    “They won’t go bust like a normal company,” said Christina Philippou, an accounting lecturer and football finance expert. Teams have captive audiences of loyal fans, she said, so even if they go bankrupt, they don’t go under; they simply re-emerge as another club.
    Producer/AuthorMichael Kapoor
    URLhttps://news.bloombergtax.com/financial-accounting/how-european-soccer-clubs-are-lured-to-gaming-accounting-rules
    PersonsChristina Philippou
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