Finance In Football
Finance in football is an interesting topic that has many facets to it; there is general management of the finances as well as the PR and marketing of the football club to generate income.
The most important aspect of any football club is the balancing of the books; unfortunately this is something that is not always on the agenda of the runners of many football league clubs who on occasions do not live within their means. This is the downfall of a few clubs such as Stockport County, Darlington, Southampton, Leeds United etc who have all experienced administration as a result of their lack of financial management.
The most IMPORTANT thing for a football club is to live within their means, otherwise they will come up short when it comes to paying bills, a lot of clubs simply get to ambitious without a realistic business plan, caution is always the best plan.
The marketing and PR strategy of a football club is also key to the survival and progression of the financial situation. For example corporate hospitality and advertising can play a key role in the income that can be generated, this is something that needs to be exploited to the full.
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