Financial communication of intangibles in professional football clubs: a theoretical analysis and empirical research

Intangible assets are today one of the main productive factors that allow companies to accomplish competitive advantage and hence create value. In some industries intangibles translate to a success factor, as in the cases of biotechnologies, pharmaceuticals, software houses and sports. This article fits into a whole research approach to one industry that stands out for a very high degree of investments in intangibles: more specifically, its purpose is to analyse a key factor in the financial communication of professional football clubs. The considered subject is specifically focused on an intangible asset entry and the subsequent detection of its impairment. This financial statements item, recognized among the intangible assets in the financial statements of professional football clubs, is named “multiannual rights to exploit the performance of professional footballers (or players’ rights or players’ registrations)”