Importance Against the backdrop of several major sporting events in Russia (including the World Cup 2018), States and private investors make huge investments in sports clubs. However, the financial position of national sport clubs in team sports is still rather poor: a drop in revenues accompanied by growing costs, increasing debt burden, shadow funding schemes. The rules of financial fair play introduced in the European football and focused on achieving sustainability and self-financing have to solve these problems. Objectives The study aims to consider the rules of financial fair play; explores 2015; analyze the sanctions imposed on European football clubs within 2 years; identify financial problems in domestic football clubs; formulate proposals for Russian clubs that are aimed at complying with financial fair play, rehabilitating the football industry and achieve sustainability and self-financing. Methods We analyze various aspects of applying the 'financial fair play' in the European football, identify and compare major financial problems of the clubs. On the basis of the conducted analysis, we enunciate several proposals. Results We have created a database containing the results of financial fair-play rules implementation and provided recommendations for national football clubs. Conclusions and Relevance If introduced, the rules of financial fair play will contribute to rehabilitation of the Russian football and develop market mechanisms in this area. Ultimately, it will attract private investors, clubs' privatization and reduction in debt burden, and have a positive effect on the entire economy and social sphere.
Keywords: finance, sport, football, pay-back, football club
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