Tag: Bernt Arne Bertheussen
What is it that (mostly) saves sport clubs from bankruptcy?
Exploring why professional team sport clubs are almost always able to survive despite severe financial problems, Professional Team Sports and the Soft Budget Constraint, edited by Rasmus K. Storm, Klaus Nielsen & Zsolt Havran (Edward Elgar) looks at the soft budget constraint theory, SBC. We asked economics historian Giuseppe Telesca for a review and in his knowledgeable assessment of the book, he concludes that the SBC works well to explain the phenomenon under study in this fascinating book.