Enviar búsqueda
Cargar
Ffp pres
•
0 recomendaciones
•
412 vistas
Kjetil Haugen
Seguir
A talk by Prof Holger Preuss on a common project
Leer menos
Leer más
Tecnología
Economía y finanzas
Denunciar
Compartir
Denunciar
Compartir
1 de 15
Descargar ahora
Descargar para leer sin conexión
Recomendados
Easm 2008
Easm 2008
Kjetil Haugen
Sport broadcastingmindmap rh
Sport broadcastingmindmap rh
Raymond Huynh
Intro to Sports broadcasting
Intro to Sports broadcasting
Vijay Bharadwaj
SGP
SGP
kellyxosfirakis
Sports broadcasting
Sports broadcasting
bcw92010797
Havas SE_XXXI Summer_Olympics_in_numbers
Havas SE_XXXI Summer_Olympics_in_numbers
VictoriaKhinevich
Belgian Sports Technology Club TV GLOBO presentation May 2010
Belgian Sports Technology Club TV GLOBO presentation May 2010
HM Solutions
International Sport(s) Marketing
International Sport(s) Marketing
Bert Van der Auwera
Recomendados
Easm 2008
Easm 2008
Kjetil Haugen
Sport broadcastingmindmap rh
Sport broadcastingmindmap rh
Raymond Huynh
Intro to Sports broadcasting
Intro to Sports broadcasting
Vijay Bharadwaj
SGP
SGP
kellyxosfirakis
Sports broadcasting
Sports broadcasting
bcw92010797
Havas SE_XXXI Summer_Olympics_in_numbers
Havas SE_XXXI Summer_Olympics_in_numbers
VictoriaKhinevich
Belgian Sports Technology Club TV GLOBO presentation May 2010
Belgian Sports Technology Club TV GLOBO presentation May 2010
HM Solutions
International Sport(s) Marketing
International Sport(s) Marketing
Bert Van der Auwera
A Strategic and Financial Valuation Of Celtic Football Club
A Strategic and Financial Valuation Of Celtic Football Club
Jørgen Breistein
Study global sports_media nexus
Study global sports_media nexus
Sunil Wadhwa -MIE, EPLM (IIMC)
Contract Issues: Banned Activities in Sports Contracts
Contract Issues: Banned Activities in Sports Contracts
Richard Fajardo, MA, LPC, NCC
Automation Engineering Services & Solutions - Offering A Globally Sustainable...
Automation Engineering Services & Solutions - Offering A Globally Sustainable...
Sunil Wadhwa -MIE, EPLM (IIMC)
UEFA report about European football clubs finance
UEFA report about European football clubs finance
jeremylepaulbinet
Unit 42 - P1 - Bethany Blackburn
Unit 42 - P1 - Bethany Blackburn
Beth1Blackburn
Media relations in sport class
Media relations in sport class
Game Day Communications
Sports law module
Sports law module
renjith-thomas
Broadband revolution in sport
Broadband revolution in sport
Peter Holmes à Court
Eu Media Landscape And Trends
Eu Media Landscape And Trends
ilda_cz
Sports Fan-based Decision Making
Sports Fan-based Decision Making
Game Day Communications
Deloitte Football Money League - Planet Football
Deloitte Football Money League - Planet Football
Deloitte UK
Usikkerhet, verdi av flesibilitet og innfasing av petroleumsprosjekter
Usikkerhet, verdi av flesibilitet og innfasing av petroleumsprosjekter
Kjetil Haugen
Private vs. Public Cost-Benefit in Scheduling Petroleum projects - The case o...
Private vs. Public Cost-Benefit in Scheduling Petroleum projects - The case o...
Kjetil Haugen
MIljøintegrasjon i Logistikkmodeller
MIljøintegrasjon i Logistikkmodeller
Kjetil Haugen
Samfunnsøkonomiske konsekvenser av anleggsinvesteringer i fotballbransjen
Samfunnsøkonomiske konsekvenser av anleggsinvesteringer i fotballbransjen
Kjetil Haugen
Fotball for alle penga
Fotball for alle penga
Kjetil Haugen
Struktur adferd og regulering i intermodale transportkorridorer
Struktur adferd og regulering i intermodale transportkorridorer
Kjetil Haugen
Weioti
Weioti
Kjetil Haugen
Ullevaal moete-171299
Ullevaal moete-171299
Kjetil Haugen
Russia
Russia
Kjetil Haugen
Pde brno
Pde brno
Kjetil Haugen
Más contenido relacionado
Destacado
A Strategic and Financial Valuation Of Celtic Football Club
A Strategic and Financial Valuation Of Celtic Football Club
Jørgen Breistein
Study global sports_media nexus
Study global sports_media nexus
Sunil Wadhwa -MIE, EPLM (IIMC)
Contract Issues: Banned Activities in Sports Contracts
Contract Issues: Banned Activities in Sports Contracts
Richard Fajardo, MA, LPC, NCC
Automation Engineering Services & Solutions - Offering A Globally Sustainable...
Automation Engineering Services & Solutions - Offering A Globally Sustainable...
Sunil Wadhwa -MIE, EPLM (IIMC)
UEFA report about European football clubs finance
UEFA report about European football clubs finance
jeremylepaulbinet
Unit 42 - P1 - Bethany Blackburn
Unit 42 - P1 - Bethany Blackburn
Beth1Blackburn
Media relations in sport class
Media relations in sport class
Game Day Communications
Sports law module
Sports law module
renjith-thomas
Broadband revolution in sport
Broadband revolution in sport
Peter Holmes à Court
Eu Media Landscape And Trends
Eu Media Landscape And Trends
ilda_cz
Sports Fan-based Decision Making
Sports Fan-based Decision Making
Game Day Communications
Deloitte Football Money League - Planet Football
Deloitte Football Money League - Planet Football
Deloitte UK
Destacado
(12)
A Strategic and Financial Valuation Of Celtic Football Club
A Strategic and Financial Valuation Of Celtic Football Club
Study global sports_media nexus
Study global sports_media nexus
Contract Issues: Banned Activities in Sports Contracts
Contract Issues: Banned Activities in Sports Contracts
Automation Engineering Services & Solutions - Offering A Globally Sustainable...
Automation Engineering Services & Solutions - Offering A Globally Sustainable...
UEFA report about European football clubs finance
UEFA report about European football clubs finance
Unit 42 - P1 - Bethany Blackburn
Unit 42 - P1 - Bethany Blackburn
Media relations in sport class
Media relations in sport class
Sports law module
Sports law module
Broadband revolution in sport
Broadband revolution in sport
Eu Media Landscape And Trends
Eu Media Landscape And Trends
Sports Fan-based Decision Making
Sports Fan-based Decision Making
Deloitte Football Money League - Planet Football
Deloitte Football Money League - Planet Football
Más de Kjetil Haugen
Usikkerhet, verdi av flesibilitet og innfasing av petroleumsprosjekter
Usikkerhet, verdi av flesibilitet og innfasing av petroleumsprosjekter
Kjetil Haugen
Private vs. Public Cost-Benefit in Scheduling Petroleum projects - The case o...
Private vs. Public Cost-Benefit in Scheduling Petroleum projects - The case o...
Kjetil Haugen
MIljøintegrasjon i Logistikkmodeller
MIljøintegrasjon i Logistikkmodeller
Kjetil Haugen
Samfunnsøkonomiske konsekvenser av anleggsinvesteringer i fotballbransjen
Samfunnsøkonomiske konsekvenser av anleggsinvesteringer i fotballbransjen
Kjetil Haugen
Fotball for alle penga
Fotball for alle penga
Kjetil Haugen
Struktur adferd og regulering i intermodale transportkorridorer
Struktur adferd og regulering i intermodale transportkorridorer
Kjetil Haugen
Weioti
Weioti
Kjetil Haugen
Ullevaal moete-171299
Ullevaal moete-171299
Kjetil Haugen
Russia
Russia
Kjetil Haugen
Pde brno
Pde brno
Kjetil Haugen
Pclsp ntnu
Pclsp ntnu
Kjetil Haugen
Paris september2009
Paris september2009
Kjetil Haugen
Nsw rio
Nsw rio
Kjetil Haugen
Noas 93
Noas 93
Kjetil Haugen
Lean
Lean
Kjetil Haugen
Kurt60 bergen
Kurt60 bergen
Kjetil Haugen
Island
Island
Kjetil Haugen
Ifip 94
Ifip 94
Kjetil Haugen
Iase 2006
Iase 2006
Kjetil Haugen
Hsm seminar 210901
Hsm seminar 210901
Kjetil Haugen
Más de Kjetil Haugen
(20)
Usikkerhet, verdi av flesibilitet og innfasing av petroleumsprosjekter
Usikkerhet, verdi av flesibilitet og innfasing av petroleumsprosjekter
Private vs. Public Cost-Benefit in Scheduling Petroleum projects - The case o...
Private vs. Public Cost-Benefit in Scheduling Petroleum projects - The case o...
MIljøintegrasjon i Logistikkmodeller
MIljøintegrasjon i Logistikkmodeller
Samfunnsøkonomiske konsekvenser av anleggsinvesteringer i fotballbransjen
Samfunnsøkonomiske konsekvenser av anleggsinvesteringer i fotballbransjen
Fotball for alle penga
Fotball for alle penga
Struktur adferd og regulering i intermodale transportkorridorer
Struktur adferd og regulering i intermodale transportkorridorer
Weioti
Weioti
Ullevaal moete-171299
Ullevaal moete-171299
Russia
Russia
Pde brno
Pde brno
Pclsp ntnu
Pclsp ntnu
Paris september2009
Paris september2009
Nsw rio
Nsw rio
Noas 93
Noas 93
Lean
Lean
Kurt60 bergen
Kurt60 bergen
Island
Island
Ifip 94
Ifip 94
Iase 2006
Iase 2006
Hsm seminar 210901
Hsm seminar 210901
Último
Tech Trends Report 2024 Future Today Institute.pdf
Tech Trends Report 2024 Future Today Institute.pdf
hans926745
Strategies for Landing an Oracle DBA Job as a Fresher
Strategies for Landing an Oracle DBA Job as a Fresher
Remote DBA Services
Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...
Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...
apidays
Data Cloud, More than a CDP by Matt Robison
Data Cloud, More than a CDP by Matt Robison
Anna Loughnan Colquhoun
TrustArc Webinar - Stay Ahead of US State Data Privacy Law Developments
TrustArc Webinar - Stay Ahead of US State Data Privacy Law Developments
TrustArc
Strategies for Unlocking Knowledge Management in Microsoft 365 in the Copilot...
Strategies for Unlocking Knowledge Management in Microsoft 365 in the Copilot...
Drew Madelung
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
The Digital Insurer
🐬 The future of MySQL is Postgres 🐘
🐬 The future of MySQL is Postgres 🐘
RTylerCroy
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
DianaGray10
From Event to Action: Accelerate Your Decision Making with Real-Time Automation
From Event to Action: Accelerate Your Decision Making with Real-Time Automation
Safe Software
Exploring the Future Potential of AI-Enabled Smartphone Processors
Exploring the Future Potential of AI-Enabled Smartphone Processors
debabhi2
How to Troubleshoot Apps for the Modern Connected Worker
How to Troubleshoot Apps for the Modern Connected Worker
ThousandEyes
2024: Domino Containers - The Next Step. News from the Domino Container commu...
2024: Domino Containers - The Next Step. News from the Domino Container commu...
Martijn de Jong
A Year of the Servo Reboot: Where Are We Now?
A Year of the Servo Reboot: Where Are We Now?
Igalia
Axa Assurance Maroc - Insurer Innovation Award 2024
Axa Assurance Maroc - Insurer Innovation Award 2024
The Digital Insurer
Strategize a Smooth Tenant-to-tenant Migration and Copilot Takeoff
Strategize a Smooth Tenant-to-tenant Migration and Copilot Takeoff
sammart93
Developing An App To Navigate The Roads of Brazil
Developing An App To Navigate The Roads of Brazil
V3cube
[2024]Digital Global Overview Report 2024 Meltwater.pdf
[2024]Digital Global Overview Report 2024 Meltwater.pdf
hans926745
Apidays New York 2024 - The value of a flexible API Management solution for O...
Apidays New York 2024 - The value of a flexible API Management solution for O...
apidays
ProductAnonymous-April2024-WinProductDiscovery-MelissaKlemke
ProductAnonymous-April2024-WinProductDiscovery-MelissaKlemke
Product Anonymous
Último
(20)
Tech Trends Report 2024 Future Today Institute.pdf
Tech Trends Report 2024 Future Today Institute.pdf
Strategies for Landing an Oracle DBA Job as a Fresher
Strategies for Landing an Oracle DBA Job as a Fresher
Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...
Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...
Data Cloud, More than a CDP by Matt Robison
Data Cloud, More than a CDP by Matt Robison
TrustArc Webinar - Stay Ahead of US State Data Privacy Law Developments
TrustArc Webinar - Stay Ahead of US State Data Privacy Law Developments
Strategies for Unlocking Knowledge Management in Microsoft 365 in the Copilot...
Strategies for Unlocking Knowledge Management in Microsoft 365 in the Copilot...
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
🐬 The future of MySQL is Postgres 🐘
🐬 The future of MySQL is Postgres 🐘
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
From Event to Action: Accelerate Your Decision Making with Real-Time Automation
From Event to Action: Accelerate Your Decision Making with Real-Time Automation
Exploring the Future Potential of AI-Enabled Smartphone Processors
Exploring the Future Potential of AI-Enabled Smartphone Processors
How to Troubleshoot Apps for the Modern Connected Worker
How to Troubleshoot Apps for the Modern Connected Worker
2024: Domino Containers - The Next Step. News from the Domino Container commu...
2024: Domino Containers - The Next Step. News from the Domino Container commu...
A Year of the Servo Reboot: Where Are We Now?
A Year of the Servo Reboot: Where Are We Now?
Axa Assurance Maroc - Insurer Innovation Award 2024
Axa Assurance Maroc - Insurer Innovation Award 2024
Strategize a Smooth Tenant-to-tenant Migration and Copilot Takeoff
Strategize a Smooth Tenant-to-tenant Migration and Copilot Takeoff
Developing An App To Navigate The Roads of Brazil
Developing An App To Navigate The Roads of Brazil
[2024]Digital Global Overview Report 2024 Meltwater.pdf
[2024]Digital Global Overview Report 2024 Meltwater.pdf
Apidays New York 2024 - The value of a flexible API Management solution for O...
Apidays New York 2024 - The value of a flexible API Management solution for O...
ProductAnonymous-April2024-WinProductDiscovery-MelissaKlemke
ProductAnonymous-April2024-WinProductDiscovery-MelissaKlemke
Ffp pres
1.
UEFA Financial Fair
Play – The Curse of Regulation Holger Preuß Institute of Sport Science, Johannes Gutenberg-University Mainz, Germany Kjetil K. Haugen Department of Economics, Molde University College, Norway Mathias Schubert Institute of Sport Science, Johannes Gutenberg-University Mainz, Germany | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert |1
2.
Outline 1 Situation in
European Club Football 2 Financial Fair Play Concept 3 Methodology 4 Selected Results 5 Conclusion | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert |2
3.
Revenues of the
“big five“ European leagues doubled in the last ten years from € 4.2bn (2000) to € 8.4bn (2010) (Deloitte, 2011) YET: Club spending has increased even more rapidly than revenues aggregate net losses of € 1.6bn in 2010 for top division clubs (UEFA, 2012) Running as “normal“ companies, many top-flight clubs would already be bankrupt! (cf. A.T. Kearney, 2010) | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert |3
4.
WHY DOES THIS
NOT HAPPEN? “too big to fail“-phenomenon many loss-making clubs are constantly bailed out by different benefactors: correlation between sporting success and relative expenses for player salaries Sources: Storm, 2012; Szymanski, 2003 Financial Doping: “financial means not earned by a club directly or indirectly through its sporting operations or supporter reputation, but rather provided by an external investor, benefactor or creditor“ (Müller, Lammert & Hovemann, 2012) | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert |4
5.
Basic Games Theory:
Prisoner‘s Dilemma http://science.howstuffworks.com/game-theory3.htm | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert |5
6.
Basic Games Theory:
Prisoner‘s Dilemma http://ingrimayne.com/econ/IndividualGroup/PrisDilm.html | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert |6
7.
Basic Games Theory:
Prisoner‘s Dilemma In its simplest form the PD is a game described by the payoff matrix: satisfying the following chain of inequalities: C D C R, R S, T D T, S P, P satisfying the following chain of inequalities: PD1)T>R>P>S PD1) T > R > P > S http://plato.stanford.edu/entries/prisoner-dilemma/#Sym2t2PDOrdPay | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert |7
8.
Clubs are trapped
in Prisoner‘s Dilemma STRATEGY OF ALL OTHER CLUBS Expensive Player (Ep) Cheap Player (Cp) - ++ -- + Expensive Player (Ep) p) Expensive Player (E MY STRATEGY AS CLUB DOMINANT STRATEGY Cheap Player (Cp)(Cp) Cheap Player Rationality trap leads to over-indebtedness of clubs Source: cf. Haugen & Solberg (2010) | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert |8
9.
Aims: “[…] introduce more
discipline and rationality in club football finances […] to protect the long-term viability and sustainability of European club football“ (UEFA, 2010) Core element: break-even requirement “relevant expenses” of each individual club are not allowed to exceed the club’s “relevant income” Basic relevant expenses: cost of sales, employee benefits, cost of player transfers (not: expenditure on infrastructure and youth development) Basic relevant income: gate receipts, sponsorship, broadcasting rights, commercial activities, profit from player transfers monitoring period includes previous three years; acceptable aggregate deviation of € 5 million | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert |9
10.
Game model (basic
assumptions): (1)Two teams (T1 and T2) are engaged in an upcoming match against each other and have made a player buying decision. (2)The two teams are assumed to be perfect clones. Hence, the probability of a victory for any team before the talent acquisition is 1/2. (3)Both teams can choose from the same two-dimensional strategy space {Ep, Cp}. Ep means buying an expensive player, while Cp means buying a cheap player. Buying an expensive player while the other team buys a cheap player leads to a probability advantage/increase of > 0 of winning the match. (4)We assume that the “buying markets” of the two teams are non-connected – the prices of the players (cE, cC) are exogenously given. (5)The playing strength and price of each of the expensive players and each of the cheap players are identical (cloned in pairs). (6)The team winning the single decisive match receives a pay-off of R (common for both teams), the losing team receives a pay-off of zero. (7)Teams are assumed profit maximizers, maximizing the expected pay-off. (8)Simultaneous game with complete information. | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert | 10
11.
Team 2 Ep Ep Team 1 Cp R
- CE ( - [ - ]) R+- CM - CE ( )R R - CE R - CE Cp R - CE ( - ) R - CC R - CC ( + ) R - CE ( + ) R - CE ( + [ - ]) R – CE R - CC | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert ( - ) R - CC ( - ) R - CC | 11
12.
the concept comes
into force… Team Team 2 2 Ep Ep Team 1 Ep Cp Ep Mp ( + ) R - CE ( + [ - ]) R – CE R - CC ( + [ - ]) R – CE Team 1 Cp ( - ) R - CC ( - ) R - CC R - CE ( - [ - ]) R - CM - CE ( + )R R - CE R - CE R - CE ( - ) R - CC Cp ( + ) R - CE R - CC ( - ) R - CC R - CM Mp R - CM ( - [ - ]) R - CM ( + ) R - CM ( + ) R - CE Cp ( - ) R - CC ( - ) R - CC | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert ( + ) R - CM | 12 R - CC R - CC
13.
Assumption: clubs try
to bypass FFP regulations, resulting in extra cost Team 2 Ep Mp ( - [ - ]) R - CM R - CE Ep R - CE - ( + [ - ]) R - CE - ( + [ - ]) R - CE Team 1 ( - ) R - CC ( + ) R - CE ( - ) R - CC R - CM Mp R - CM ( - [ - ]) R - CM ( + ) R - CE Cp if Cp > ( - ) R - CC ( ) ( + ) R - CM ( + ) R - CM ( - ) R - CC is satisfied, the clubs will buy expensive players in equilibrium | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert | 13 R - CC R - CC
14.
Strong incentive to
bypass the FFP reguations for the clubs due to the situation of being in a Prisoner‘s Dilemma Adding to inefficiency through additional costs for clubs (cover-up) and UEFA (monitoring & enforcing) Additional costs and risk of conviction might deter smaller clubs with less financial capabilities from trying to bypass the regulations Ossifies dominance of rich clubs by enabling financial doping Competitive Balance on national level decreases BUT: long term governance project, initial problems inevitable; initially the power of sugar daddies and the “total dependency culture” will be reduced | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert | 14
15.
Thank you! Holger Preuß preuss@uni-mainz.de Institute
of Sport Science, Johannes Gutenberg-University Mainz, Germany Kjetil K. Haugen kjetil.haugen@himolde.no Department of Economics, Molde University College, Norway Mathias Schubert schubert.m@uni-mainz.de Institute of Sport Science, Johannes Gutenberg-University Mainz, Germany | UEFA Financial Fair Play – The Curse of Regulation © H. Preuß / K. Haugen / M. Schubert | 15
Descargar ahora