ABSTRACT
This chapter examines the profitability of the football clubs participating in the first division of the Greek Football League, as well as the factors that contribute to this performance, over the period from 1994 to 2004. The results indicated that the profitability of the football clubs is positively associated to their short run success. The chapter investigates the distinct factors that are related to their financial performance of Greek teams. This is the first study within the Greek football setting which tries to distinguish the significant determinants of profitability, thus it adds to a growing body of research on sports finance. The chapter provides an overview of the relevant regulatory framework, develops the theoretical background while there is a description of the data and the methodology employed. Moreover, the asset turnover and return on assets variables are introduced in order to control for the level of efficiency in assets management.
