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Drawing up of a rating methodology to manage regional sports federations: A case of association football

Solntsev I.V. Research Center of Strategic Development and Complex Research of Football and Sport Industry, Plekhanov Russian University of Economics, Moscow, Russian Federation ( Ilia.solntsev@gmail.com )

Journal: Regional Economics: Theory and Pactice, #5, 2016

Importance The article dwells on creation of an efficient monitoring system of control and management of all subjects of the football industry, an essential element of which can become a performance assessment of football organizations, that can be based on the model of rating evaluation and benchmarking.
Objectives The aim of the paper is to develop a methodology for rating the performance of the regional football associations.
Methods To achieve the goal, I reviewed the today's evaluation system of sporting organizations, normative-legal base, practical aspects related to the management of association football in Russia, the mechanisms for distribution of funding between the actors. In view of the fact that the domestic football should be developed, primarily, in the regions of Russia, the work focuses on the regional level of management.
Results As a result, I have identified the factors that determine the effectiveness of the regional football associations. I combined these factors into a single rating model that identifies the industry leaders in selected areas and established best practices.
Relevance The developed model can be used for management decision making and equitable distribution of resources allocated both for the development of sport, in general, and football, in particular. In the future, such a system can be implemented in other sports, and adapted for performance evaluation of sports clubs that will help solve the problem of their gradual privatization.


Applying the financial fair-play rules: foreign experience and Russian practice

Solntsev I.V. Plekhanov Russian University of Economics, Moscow, Russian Federation ( Ilia.solntsev@gmail.com )

Pimenov S.A. Plekhanov Russian University of Economics, Moscow, Russian Federation ( piemens@rambler.ru )

Journal: Finance and credit, #41, 2015

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.


Restating the financial statements of Russian football clubs in accordance with International Financial Reporting Standards

Solntsev I.V. Plekhanov Russian University of Economics, Moscow, Russian Federation ( ilia.solntsev@gmail.com )

Chuchina E.A. ZAO Deloitte & Touche CIS, Moscow, Russian Federation ( jennyczya@gmail.com )

Journal: International accounting, #3, 2017

Importance The article considers the finance of Russian football clubs, namely the transformation of their financial statements in accordance with International standards, aimed at a fair reflection of all operations.
Objectives The aim of this study is to develop a model of restatement of Financial Statements of Russian football clubs in accordance with International Financial Reporting Standards.
Methods We considered the main items of football clubs' statements, including transfer contracts with players, stadiums, payables and receivables, debt, income and expenses, the specificity of their formation in accordance with the Russian and International accounting standards. Russian and International Financial Reporting Standards, research papers and analytical studies on finance of sports organizations and transformation of financial statements form a theoretical basis of the paper.
Results We have reviewed the annual reports of domestic and foreign football clubs. All aspects are illustrated by practical examples. We put forward certain proposals on transformation. All the proposals are approved by applying them to the PFC CSKA case: the Club's reporting got transformed in accordance with the requirements of International Financial Reporting Standards.
Conclusions and Relevance We came to the conclusion about many discrepancies in the statements made in accordance with the Russian and International standards. We have identified the causes of such differences and formulated certain proposals for transformation. The results of this study can be used by domestic football clubs to transform the accounting in accordance with IFRS. This would contribute to enhancing the transparency in the Russian football, attracting investment and the creation of a new management model, based on a fair evaluation of the assets, liabilities and transactions.


Transformation of Financial Statements of the Russian Football Clubs in Accordance with International Financial Reporting Standards

Solntsev I.V. Plekhanov Russian University of Economics, Moscow, Russian Federation ( ilia.solntsev@gmail.com )

Chuchina E.A. ZAO Deloitte & Touche CIS, Moscow, Russian Federation ( jennyczya@gmail.com )

Journal: Digest Finance, #2, 2017

Importance The article considers the finance of Russian football clubs, namely the transformation of their financial statements in accordance with international standards, aimed at a fair view of all operations.
Objectives The aim of this study is to develop a model for transforming financial statements of Russian football clubs in accordance with International Financial Reporting Standards.
Methods We considered the main items of football clubs' financial reporting, including transfer contracts with players, stadiums, payables and receivables, debt, income and expenses, the specificity of their formation in accordance with the Russian and International accounting standards. Russian and International Financial Reporting Standards, research papers and analytical studies on finance of sports organizations and transformation of financial statements form a theoretical basis of the paper.
Results We have reviewed the annual reports of domestic and foreign football clubs. All aspects are illustrated by practical examples. We put forward certain proposals on transformation. All the proposals are approved by applying them to the PFC CSKA case: the Club's reporting got transformed in accordance with the requirements of International Financial Reporting Standards.
Conclusions and Relevance We came to the conclusion about many discrepancies in the statements made in accordance with the Russian and International standards. We have identified the causes of such differences and formulated certain proposals for transformation. The results of this study can be used by domestic football clubs to transform their accounting in accordance with IFRS. This would contribute to enhancing the transparency in the Russian football, attracting investment and the creation of a new management model, based on fair value measurement of assets, liabilities and transactions.


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