Influence of stakeholders' perception on value creation and measurement: the case of football clubs

Abstract

PurposeThe presented study aims to identify and classify the value factors that influence the value of football clubs from the stakeholder perspective, while also discussing how these factors can affect the choice of valuation methods. The paper considers how value should be measured from the perspective of stakeholders. Research focuses on clubs embedded deeply in a wide interrelated network of stakeholders.Design/methodology/approachA mixed research approach was established in order to obtain a more holistic understanding of value creation, value factors and measurement. The research builds on observational study with a mix of retrospective longitudinal study of Polish men's football clubs and interviews with stakeholders, which are then triangulated as part of a critical discussion on valuation methods.FindingsThe results show the most significant value factors determined by the stakeholders. The study discusses which performance and value measures should be used to measure value for the stakeholders of football clubs. Intellectual capital methods and asset-based methods should definitely be relied on as part of measuring the performance of football clubs within the stakeholders' network. All findings suggest the use of the multivariate valuation method in accordance with previous research.Originality/valueThe classified key value factors enable the management of football clubs to properly manage stakeholder relationships and address various stakeholders' concerns in a sustainable way. The paper proposes a research process, which may also be implemented in other studies in the non-profit sector and contributes to the literature in the fields of sports management.

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“…Some researchers have highlighted the importance of stakeholder management and inclusion in elite sports (De Bosscher et al, 2021;van der Roest & Dijk, 2021). Others have applied stakeholder theory in analyzing and classifying football fans' behavior and needs (Jaeger, 2021;Perechuda & Čater, 2022) and others to basketball (Leiñena & Merino, 2021). Neto et al (2022) elaborate on the concept of stakeholder leadership in soccer clubs.…”

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“…For private investors, the high financial risks and limited upside suggest motives beyond financial gains, while fan investors prioritize influence, highlighting a deep-rooted connection to the club’s legacy. The authors developed research about the intentions and expected benefits of a chosen group of stakeholders, which are strongly diversified in the football industry (Perechuda and Čater, 2022). Stakeholder heterogeneity is one of the main issues regarding the performance assessment of the clubs (Plumley et al ., 2017).…”