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The Price of Football
Professional football is the most popular sport in the world in terms of both spectator attendance and television viewing figures. As its popularity has grown so has its monetary value. Kieran Maguire looks at the different ways in which professional football operates as a business – how clubs make their money, or more commonly, lose it. In particular he analyses how success is measured by the different and often competing stakeholders in football clubs – owners, managers, fans, players, commercial partners and the media. Throughout, he draws on a range of case studies using the finances of professional clubs in the UK and overseas to show how the traditional profit based approach of limited companies applies to football.
The book begins by interrogating the balance sheet, income statement and cash flow statement of the football club and explains how assets are financed and how clubs account for players in different ways. The supply and demand of players and managers is examined, including the reasons for the rise in wage levels at the elite end and how clubs account for player acquisitions, disposals, contract extensions and loans. How clubs are traded, why they are bought and sold, and how they are valued is contrasted with other businesses. The rich variety of ownership models is explored, from the overseas government wealth fund (Manchester City), the wealthy individual's vanity project (Chelsea, Newcastle) to the brand extension of private companies (Bayer Leverkuesen) and the cooperative ownership model championed by Barcelona. How ticket prices, the benefits and costs of television rights and the success or otherwise of brand monetization impact on the finances of clubs are all explained as well as the main causes of financial distress and why some clubs may be too big to fail.
At a time when many commentators are bemoaning the effects of “too much money” in the game, this clear-headed and rigorous analysis and presentation of the financial imperatives and challenges facing football will be welcomed not only by students of the industry, but by the wider consituency of fans and supporters.
The book begins by interrogating the balance sheet, income statement and cash flow statement of the football club and explains how assets are financed and how clubs account for players in different ways. The supply and demand of players and managers is examined, including the reasons for the rise in wage levels at the elite end and how clubs account for player acquisitions, disposals, contract extensions and loans. How clubs are traded, why they are bought and sold, and how they are valued is contrasted with other businesses. The rich variety of ownership models is explored, from the overseas government wealth fund (Manchester City), the wealthy individual's vanity project (Chelsea, Newcastle) to the brand extension of private companies (Bayer Leverkuesen) and the cooperative ownership model championed by Barcelona. How ticket prices, the benefits and costs of television rights and the success or otherwise of brand monetization impact on the finances of clubs are all explained as well as the main causes of financial distress and why some clubs may be too big to fail.
At a time when many commentators are bemoaning the effects of “too much money” in the game, this clear-headed and rigorous analysis and presentation of the financial imperatives and challenges facing football will be welcomed not only by students of the industry, but by the wider consituency of fans and supporters.
224 pages, Paperback
Published October 1, 2019
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Displaying 1 - 19 of 19 reviews
July 26, 2020
Arguably the official offspring of accounting, financial analysis and football!
Definitely a recommended read for any accounting/finance professional with a love for the beautiful game.
Accounting jargon is defined in layman’s terms, with specific examples from the footballing world so it all makes sense.
Definitely a recommended read for any accounting/finance professional with a love for the beautiful game.
Accounting jargon is defined in layman’s terms, with specific examples from the footballing world so it all makes sense.
November 28, 2020
Still can't believe I read a book about finance, even if it is football finance.
October 22, 2024
The Accounting principles are basic stuff, but getting into the football business side of things enlightened me
December 27, 2023
I read the second edition of this and it’s incredible. It’s very niche but if you want to understand finances in football this is the Bible. Brilliantly explained and great case studies to bring it all to life. Excellent book
February 19, 2023
Despite being the son of an accountant, I have always shied away from football’s numbers ( unlike Kevin Day’s agent ‘Bobby Numbers.’) but when someone like Kieran Maguire enters ‘spreadsheet heaven’ I just had to explore this book.
I won’t pretend to be confident in this new lexicon of chapter headings ranging from ‘The Balance Sheet’ or ‘The Cash Flow Statement’ but passion is, wherever you find it, a particularly beguiling trait. Maguire walks us through the intricacies that often underpin some of football’s outrageous financial decisions with scenarios for us numerically challenged readers to illustrate his accounting points. With my ‘art shite, eat lard’ (kindly sprayed outside my former English course building in Manchester) background I found some of the chapters intimidating. ‘Trend Analysis’ and ‘Ratio Analysis’ fired up synapses normally safely dormant, but the bizarre emotional ownership trilogy is also explored as ‘Love, Vanity and Insanity.’
For accounting heathens like me, the reward for exploring this new landscape was a new set of tools to (try to) understand football’s surreal landscape. Royalties also went to support the heart-breaking results of Putin’s attack on Ukraine. Those are some numbers I can definitely understand…
I won’t pretend to be confident in this new lexicon of chapter headings ranging from ‘The Balance Sheet’ or ‘The Cash Flow Statement’ but passion is, wherever you find it, a particularly beguiling trait. Maguire walks us through the intricacies that often underpin some of football’s outrageous financial decisions with scenarios for us numerically challenged readers to illustrate his accounting points. With my ‘art shite, eat lard’ (kindly sprayed outside my former English course building in Manchester) background I found some of the chapters intimidating. ‘Trend Analysis’ and ‘Ratio Analysis’ fired up synapses normally safely dormant, but the bizarre emotional ownership trilogy is also explored as ‘Love, Vanity and Insanity.’
For accounting heathens like me, the reward for exploring this new landscape was a new set of tools to (try to) understand football’s surreal landscape. Royalties also went to support the heart-breaking results of Putin’s attack on Ukraine. Those are some numbers I can definitely understand…
August 23, 2021
Kieran Maguire - The Price of Football-Agenda Publishing (2020).epub
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July 11, 2023
I won't lie, some of it went over my head, but that was a very small %. The vast majority presented financial concepts in easy to understand ways using real club examples using real submitted accounts which made it even more interesting to read but also quite an alarming one.
August 18, 2020
An excellent and comprehensive look at the sometimes murky world of football finance
December 26, 2020
Excellent. Very readable book. Great explanation of accounting terms as they relate to football. Can’t believe I enjoyed such a geeky book!
January 10, 2021
What Kieran Maguire doesn't know about football finance probably isn't important. If you want to understand football behind the scenes, especially during the covid-19 pandemic, this is a must read.
May 16, 2022
It's like redoing my college accounting courses, but through the lens of football. If that sounds fascinating, this is the book for you. Otherwise, you might want to pass.
January 9, 2024
Definitely a very good introduction to the world of accounts and football finance, starting off at the basics and building from there to show why & how various aspects of the accounts are important, and some analysis/context which still hold up despite Covid happening since then & the various changes which have occurred in football.
Obviously a bit technical if you’re not into that, it’s not exactly easy to make financial statements flow from the page, but this book does a very good job of making it as easy to read as possible.
Obviously a bit technical if you’re not into that, it’s not exactly easy to make financial statements flow from the page, but this book does a very good job of making it as easy to read as possible.
October 18, 2024
finished 18/10/2024
February 6, 2025
Really good info, more of a text book than a book but a really good intro to football accounting
January 9, 2025
I loved this book. If you’re interested in the finance behind football then this is a must read - it provided more colour to the events happening in football. A basic understanding of accounting does help but this breaks it down very well that you’ll be fine without
June 21, 2021
A very informative book from an author who has been writing and broadcasting on the subject of football finance for some time.
The mechanics of a balance sheet and profit and loss account are of significant interest to me professionally so this was not a subject in which I was starting from scratch but Kieran Maguire does a good job in explaining why such things should matter to the football fan with an attachment to their club to provide some insight into whether the club is being run on a sound footing or not.
Detailed and insightful, one to keep on the shelf and to return to when my own club hits the headlines again for the wrong resons.
The mechanics of a balance sheet and profit and loss account are of significant interest to me professionally so this was not a subject in which I was starting from scratch but Kieran Maguire does a good job in explaining why such things should matter to the football fan with an attachment to their club to provide some insight into whether the club is being run on a sound footing or not.
Detailed and insightful, one to keep on the shelf and to return to when my own club hits the headlines again for the wrong resons.
June 16, 2021
Super comprehensive and really well explained. It's obviously detailed, but if you are interested in the subject it's relatively accessible. I enjoyed and understood it with no background. Great subject for fans to understand.
June 5, 2021
Brilliant look at the other side of football
January 7, 2024
I found this via the podcast by the author and this book is an excellent look at the money behind the game and the questionable ways that owners muddy the waters in their finances.
Displaying 1 - 19 of 19 reviews