Premier League: "No relationship between financial performance and sporting performance" (Audencia)

"There is no relationship between the economic (revenue) performance and the financial (profitability) performance, nor is there a relationship between the financial performance and the sporting performance, but there is a relationship between the economic performance and the sporting performance, which is verified in both directions," states a study conducted by Christophe Germain, Michael Doumpos, Emilios Galariotis, and Konstantinos Zopounidis, finance professors at Audencia Business School (Nantes, FRA), and published on 10/07/2017. The study included English clubs which maintained at least three years in the Premier League between 2010 and 2015.

"The traditionally accepted economic model for football clubs is that of a virtuous circle in which sporting performance would lead to better economic performance, which would generate a better financial performance, and so on. Not so for the English football clubs," adds the study from Audencia Business School.

Among the 19 clubs studied, Arsenal FC are an exception because the club is "the only one to present a coherent and viable…