Prevendo a crise financeira no futebol Espanhol (2018-2021):  o papel adaptativo da competição

Antonio Somoza López

doi:10.5585/podium.v13i3.26148

Authors

Antonio Somoza López University of Barcelona https://orcid.org/0000-0002-0501-4028

DOI:

https://doi.org/10.5585/podium.v13i3.26148

Keywords:

Soccer, COVID-19, Finances, Spain, League

Abstract

Objective: The objective is to analyze and compare the financial distress in football addressed to the first and second division.
Methodology: Initially, we calculated the comparative scores from models such as Altman (1968, 1983, 2000, 2016), Conan and Holder (1979), Springate (1978), Taffler (1982), and Zmijewski (1984). Subsequently, we applied factorial analysis to investigate the differences across the teams. Finally, we re-estimated the models for the data and contrasted the results.
Originality: This paper applies insolvency prediction models to Spanish football teams for the period 2018-2021 and compares the teams according to the division in which they participate.
Main Findings: The findings reveal that profitability and indebtedness are the main explanatory variables, highlighting the teams’ lack of adaptation to shocks. Furthermore, the second-division teams exhibited better solvency and profitability than the first-tier clubs in the year following the pandemic outbreak.
Contributions: At a theoretical level, this research evaluates the adequacy of these models for this sector and underlines the need to constrain expenses during an exceptional period.

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Author Biography

Antonio Somoza López, University of Barcelona

Ph.D. in Economics and Business Studies from the University of Barcelona. He is currently an Associate Professor at the Faculty of Economics and Business at the same university. He has previously taught at other universities, including the Universitat Autònoma de Barcelona, Universitat de Vic, and Pompeu Fabra University, and has been a collaborator for several years at the Universitat Oberta de Catalunya. Additionally, he has been a visiting professor at the University of Vaasa (Finland) and in Stockholm (Sweden). He has also worked in the private sector in accounting and auditing, as well as in the public sector in public auditing/intervention (Generalitat de Catalunya).

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