Related Party Transactions, Fair Value and Financial Statement Disclosures in Italian Professional Football Clubs

Risultato della ricerca: Otherpeer review

Abstract

Transactions with related parties (RPTs) are numerous and frequent in the economy of companies; they are often made with different values from theones in arm‟s length transactions, and sometimes for opportunistic reasons.Many cases of RPTs occur in the football sector too, and they are mostly related to sponsorship contracts revenues.Through the financial fair play regulations, UEFA encourages the clubswhich want to get the license for competing in European tournaments, to counton their capability to operate on the basis of their own revenues.The reorientation of the professional football clubs economic governancerequested by UEFA also provides specific RPTs disclosure as well as their fair value measurement, suggesting downward adjustments for RPT revenues, and upward adjustments for RPT costs, recorded at different value. However, theprocedures and activities underlying the fair value measurement expose tosome difficulties - among which the need for specific individual decision oneach case, with the consequent high risk of treating similar cases differently -and are likely to undermine the effectiveness of the financial fair play rules.This contribution suggests an alternative hypothesis with respect to fair valuemeasurement of RPTs for the UEFA FFP.
Lingua originaleEnglish
Pagine13-14
Numero di pagine2
Stato di pubblicazionePublished - 2013

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