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How Financial Fair Play Was Justified

How financial fair play was justified. Subscribe: http://bit.ly/TifoSubscribe | 🔔Make sure to enable all push notifications!🔔 Watch the most recent videos:    • Most Recent Videos | Tifo Football   In 1971, Peter Sloane published an article titled The Economics of Professional Football: The Football Club As A Utility Maximiser. It laid bare the ideological differences between the North American and European sporting cultures. In the United States, there had always been an assumption that sports teams should be ‘profit-maximisers’, and therefore be organised as ‘closed’ leagues to protect the sports clubs against the economic penalty of relegation. Conversely, in Europe, where leagues were ‘open’ and had promotion and relegation, ‘utility maximisation’ - the desire to prioritise sporting success - was the true objective. Profit, or underwriting losses, was only important insofar as it was necessary for a club’s long-term stability and survival. This economic concept is the bedrock behind the implementation of Financial Fair Play. Follow Tifo Football: Website: http://tifofootball.com Twitter:   / tifofootball_   Facebook:   / tifofootball   Instagram:   / tifofootball_   Join Tifo Football, for extra perks, by following this link:    / @tifo   Listen to the Tifo Football podcast: iTunes: http://bit.ly/TifoFootPod SoundCloud:   / tifo-football-podcast   Subscribe to Tifo Basketball at http://bit.ly/TifoBasketball Watch more Tifo Football: Tactics Explained:    • Tactics Explained | Tifo Football   Finances & Laws:    • Finances & Laws | Tifo Football   Tifo Football Podcast:    • Tifo Football Podcast   Most Recent Videos:    • Most Recent Videos | Tifo Football   Popular Videos:    • Popular Videos | Tifo Football   Produced by Tifo Studios: Taking an illustrated look into the beautiful game. Music sourced from http://epidemicsound.com About Tifo Football: Informative, illustrated football analysis. Home of WhiteboardFootball®. Tifo loves football. We know there’s an appetite for thoughtful, intelligent content, for stuff that makes the complicated simple. Our illustrated and live action YouTube videos address all aspects of the game, including tactics, history, and the business of football. We provide analysis on the Premier League, Champions League, La Liga, Serie A, Bundesliga, World Cup and more. Our podcasts interview some of the game’s leading figures. And our editorial covers football with depth and insight. Tifo Football used to be uMAXit Football – we changed our name in November 2017 to better articulate who we are and what matters to us: making football accessible to its fans through story-telling and the expertise and insight of our team of writers and producers. Tifo was nominated by the Football Supporters’ Federation for the ‘Best Online Media’ Award in 2017 and 2018. We also make bespoke videos. #ffp #manchestercity #uefa