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The new type of coronavirus (COVID-19) has deeply affected football, the most followed sport in the world, financially and socially. The clubs that have been heavily hit financially will certainly focus more on the digital world to overcome this problem. Competition in the field will take place in the digital world at the same rate. Three factors will be very important for clubs in the new period: firstly, reassuring the loyal fans' expectation of success as before; secondly, adjusting themselves to the rules of financial fair play and being financially successful; and lastly, meeting the expectations of the new and digitalized fan generation. As a result, the football industry should find the most suitable way for itself, considering the negative consequences of COVID-19 and the changing dynamics of the industry.

This paper analyses competitive balance in the “big five” women's football leagues in Asia longitudinally between 2010 and 2019.

Competitive balance has been measured using recognised measures of concentration, HICB and NHICB, alongside recognised measures of dominance, i.e., identification of top teams. A time-trend analysis has been employed to identify trends of CB in the respective leagues followed by ANOVA and relevant post-hoc tests to identify difference in concentration measures. A multiple linear regression analysis has been conducted to identify the impact of external economic factors on CB.

Some significant differences were detected in the levels of concentration between leagues. There was also some variation in terms of some leagues being dominated by a fewer number of teams. However, these two measures of competitive balance (concentration and dominance) were not necessarily correlated with each other. The paper also tries to find the optimum number of teams to maintain CB in the women's football leagues in Asia, but an exact figure could not be found.

Some significant differences were detected in the levels of concentration between leagues. There was also some variation in terms of some leagues being dominated by a fewer number of teams. However, these two measures of competitive balance (concentration and dominance) were not necessarily correlated with each other. External economic factors were found to have negative impact on CB.

The paper is an original research and aims to add to the growing body of CB research in world through analysis of competitive balance (ACB).

The introduction of financial fair play (FFP) regulations in 2011 was accompanied by criticism that they would have an adverse effect on competitive balance in European football. Counter-points were also expressed, suggesting that the opposite would occur; that they would actually increase competitive balance through reducing the importance of financial power. The lack of clarity and cohesion on this issue prompted this paper. The purpose of this paper is to examine the effect FFP has had on competitive balance in the English Premier League.

The analysis conducted uses the Herfindahl Index of Competitive Balance as the primary method, and is supported by standard deviation of points analysis and a Scully-Noll ratio analysis, which together provide an indication of the level of competitive balance for each of the past 21 seasons, from 1995/1996 to 2015/2016. This examination allows for the trends in competitive balance to be identified, with emphasis drawn on the seasons after the introduction of the regulations.

The results provide no indication that FFP regulations have resulted in a decline in competitive balance in the EPL, instead hinting that a positive effect may have been caused. This positive effect exceeds the primary aim of the regulations and underlines their importance in the future stability of club football.

While underlining the need for further research on the topic, this study provides the first insights into the effects of FFP regulations on competitive balance in the EPL. These insights would support the view that FFP initiatives have begun to shift the focus of sporting competition away from financial strength towards more natural means of competition such as efficiency, innovation and good management.

Despite multiple structural changes since its 2011 inception, many English Women's Super League (WSL) clubs have recorded losses and carried debt, leading to concerns about the financial health of the league. This study is the first to analyse the financial health of any professional women's sports league in the world. The authors examine WSL club finances between 2011 and 2019, theoretically situate the findings within joint production, and make policy recommendations.

In total, 73 annual accounts of 14 WSL clubs between 2011 and 2019 were scrutinised.

Since 2011, club revenue has increased 590% but is outstripped by club debt increase (1,351%). The authors find poor financial health throughout the league, which may damage both its and the clubs' future growth. Findings also indicate an emergent group of dominant clubs on and off the pitch, which may threaten long-term sporting integrity and disrupt the joint production of the WSL product.

Women's football exists at an important crossroad, and its next moves need careful consideration in relation to its governance structures and league design.

The authors provide a road map for necessary action (e.g. revenue distribution, licensing criteria, rewards) to protect the financial health of the WSL's clubs and promote sporting competition to assist the sport to capitalise further on positive gains in recent years.

This introduction provides the methodological framework for the book, approaching the business of football through the lens of its most reliable consumers – the fanbase. Fan cultures necessarily inform the normative understanding of a football club, due to the popularly held belief that it is the fan’s – or some reified idea of the fan – that is the permanent feature of a football club and that provides its identity. Players and owners come and go, but the relationship between the club and the fan is, theoretically, never-ending. In truth, this is never a real fan who could exist, but a constructed image of the fan built out of other narratives and that, at some level, football fans associate themselves. This fan is no one in particular, but is drawn from a close reading of football culture and identifying the directives of the traditional fan. Utilising a combination of critical theory and the existing literature on football club ownership, our goal is to reveal the distinction between how people talk about the social dimension of football clubs, and how they actually relate to their fans and the wider world in the era of late capitalism. A club is not simply the romanticised notions held by those within the games, but, as with all businesses, it is also the product of it conducts itself in a series of other networks of exchange. Often irreconcilable with the aforementioned romantic notions, these networks often get hidden by the prevailing discourse.

The purpose of this paper is to report a critical analysis of the plan recently launched by the Chinese Government for the development of the football industry in China. The analysis encompasses the impact exerted by the new policy instrument on the Eurocentric trend that configured the power relations in the football realm, as well as the challenges raised by barriers deeply rooted in culture that Chinese authorities should face in order to foster pervasive change and thus create the conditions for success.

The analysis of the policy document has been carried out under the light of the theory of innovation, namely, the contributions of Peter Drucker, who looks at innovation as a means to foster change in the social and economic environment, inducing new patterns of behaviour and creating new habits. This theoretical framework provides ground to the analytical endeavour because the Chinese plan for football development presents the overall goal of shifting the habits of sporting practice and consumption.

The first and most visible “innovative” effect of the policy took the form of a shock provoking an unprecedented change in the geopolitics of football and the inherent disturbance in the traditional Eurocentric structure of football power relations. At the domestic level, the Chinese Government is assuming the “educating” role in order to change behaviour and habits, that is, to ensure the transformative power necessary to overcome barriers deeply rooted in culture. Accordingly, rather than the availability of financial resources, the capacity to materialise this pervasive switch in behaviour and habits in terms of football practice and consumption is the major challenge, the one of a social innovation endeavour.

The research reported in this paper provides an original and innovative approach to the analysis of a sports relevant public policy document, namely, because of the theoretical framework wrapping up the analytical endeavour.

The paper analyzes the effects of financial fair play (FFP) in the competitive balance of European football industry throughout a long-term perspective.

The authors analyze the evolution of the competitive balance in the European football industry through a time-series analysis from season 1992/93 to 2018/19.

Results indicate an industry by nature dominated by a few clubs showing a general stationary behavior. FFP has had very little impact in local competitions. Just in some leagues, such as the Spanish, German, and French leagues, we can observe an increase in the imbalance in some indicators, but these results are not very robust. The improvement on the financial situation happens especially in a small group of firms that coincide with the big leagues with a strong European market orientation and strict local financial control standards.

Although the study covered 17 European Leagues, there are several leagues not accounted for and thus results should be generalized with caution.

The authors observe heterogeneity of the results of FFP in the competitive balance, associated to how the standard has been implemented in each market. This opens opportunities to study and deepen the local codes and their influence, especially in the recommendations of future financial control standards.

The authors’ main contribution to the literature is to examine the impact of the FFP rules in the competitive balance utilizing a very broad study of 17 European markets with a rich and unusual overview and long-term perspective.

Moving away from the stories of financial disaster we encountered in Chapter 2, Chapter 3 examines what it means for fans when their club is suddenly awash with more financial muscle than some nation-states due to the generosity of a wealthy benefactor who is seemingly more interested in sporting glory than in financial gain. This chapter engages with the notion of the football club as a billionaire’s plaything. Roman Abramovich’s acquisition of Chelsea in 2003 saw the West London club embark on an eye-watering spending spree and a sustained period of on-field successes, one that was unknown in the club’s history to that point. As a result, we take Chelsea during the Abramovich era as a starting point for considering how this model of ownership affects the relationship between fans and the connection that they have with their club. The evident success that financial muscle can bring shows owners what a happy fanbase is capable of, what they are capable of doing, and what they are capable of ignoring. The success of the financially doped teams of the 2000s created a precedent for winning over a fanbase with a successful football club, but nevertheless sat awkwardly with the normative ideals of how a football club should exist in the world and relate to its supporters.

Football, or soccer as it is known in the United States, is one area in which managerial positions are hugely volatile with what is often called a ‘merry-go-round’ of managers sacked for poor performance at their club and reemployed by another club. Not only does this practice often not increase performance but it is also very costly. Considering the nature of football, that is, the relatively high impact of chance on the rare events that goals are, and the high correlation between success and the wage bill, the influence of managers on performance is often over-estimated. However, potentially better preparation of future managers might help to increase competitive advantages. In this chapter, we are looking in depth at leadership in the context of football and the lessons we can draw for other contexts.

Since the beginning of the 2000s, investors have more frequently invested into professional football clubs, thereby radically changing the industry landscape. This review's purpose is to analyze and synthesize the state of research to understand motives, roles and implications of football club investors, and to provide recommendations for further research.

The paper presents an integrative literature review by identifying relevant English articles based on the search terms investor, owner, investment, ownership, shareholder and stakeholder in combination with soccer or football. Around 2,431 articles were reviewed. A total of 129 relevant articles was analyzed and synthesized within eight subject areas.

Investors in professional club football is a young research stream with a clear European focus. Investor motives and roles are diverse and implications are multidimensional. Investors mostly aim for indirect returns rather than pure profit- or win-maximization.

Football clubs comprise an own investment class for which the identified, unique specifics must be considered to develop a financially successful investment model. Thorough academic research of investors' inherent characteristics, investor-club pairings and the pillars of long-term strategies for successful investor-club liaisons are avenues of future research. Furthermore, the results illustrate the need for research outside of Europe.

The paper is the first systematic, integrative review of existing literature in the domain of equity investments into professional club football. The findings genuinely show that, depending on the investor type and ownership structure, investors have a wide impact in professional club football.