ABSTRACT
This paper proposes a model of economic flows regarding European professional football clubs. Derived from the model by Andreff and Staudohar, it reacts to new specifics of this market environment. The paper is based on an analysis of academic literature, football regulations, and financial reporting of the chosen professional football clubs. Interviews with representatives of Sparta Prague and Real Madrid were complementary. It is found that professional football clubs get in contact with many subjects, including the population, media, and sponsors. They cooperate with investors, the public, and other institutions. Two of the most important markets for professional teams – transfer and financial markets – are included. The proposed model depicts the most important connections between professional football clubs and other subjects. The model explains the sources of financing for the clubs and the reciprocal services provided to their partners, for a better understanding of the motivations of the respective agents.
