The leading European soccer clubs: some economic and financial evaluations

The study analyses the economic and financial performance of the leading European soccer clubs (“Big Five”) in the decade 2015-2024 in a comparative perspective, to assess the impact of the pandemic crisis and the performance of the various companies. Through the analysis of profitability ratios (ROA) and capital strength ratios, the research tests three fundamental hypotheses regarding the recovery of post-pandemic profitability, the improvement of the financial structure, and the impact of the geographical context on performance. The results show only partial and asymmetric recovery in profitability (H1 partially confirmed), while the overall financial structure fails to show the desired improvements, revealing a worrying persistence of debt (H2 not confirmed). On the other hand, the decisive influence of the national soccer system is confirmed (H3 confirmed), with the German Bundesliga clearly distinguishing itself for stability and low use of financial leverage compared to the structural fragility of Serie A and Ligue 1. The study concludes by suggesting greater harmonisation of UEFA’s control policies to ensure economic and financial sustainability over time.