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Equilíbrio financeiro nas sociedades anónimas desportivas : estudo de caso comparativo de quatro sociedades - SCP, SLB, FCP e SCB
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Abstract(s)
Tendo em contas as elevadas quantias monetárias divulgadas e transacionadas entre as maiores organizações desportivas na europa, ascendendo muitas vezes a centenas de milhões de euros por ano, importa verificar a existência ou não de um equilíbrio financeiro nas mesmas. Assim sendo, importa também verificar este mesmo equilíbrio nos maiores clubes futebolísticos presentes em Portugal, organizados em Sociedades Anónimas Desportivas (SAD’s). Este estudo tem como objetivo principal verificar a existência ou não de equilíbrio financeiro nas quatro SAD’s portuguesas que apresentaram, normalmente, os melhores resultados desportivos. A saber: Sport Lisboa e Benfica – Futebol SAD (SLB); Sporting Clube de Portugal – Futebol SAD (SCP); Futebol Clube do Porto – Futebol SAD (FCP); Sporting Clube de Braga – Futebol SAD (SCB).
A análise do equilíbrio financeiro destas organizações foi elaborada de acordo com a aplicação de diferentes rácios e indicadores de análise financeira, aos valores presentes nos documentos financeiros de cada SAD, ou seja, nos seus respetivos relatórios e contas. Neste estudo foram analisados todos os balanços, demonstrações de resultados, como também os seus respetivos anexos, num período de seis épocas desportivas. Este estudo foi elaborado tendo em conta uma perspetiva comparativa entre as quatro sociedades, assim como uma perspetiva longitudinal, entre a época 2013/2014 e a época 2018/2019.
De forma a complementar esta análise foi elaborado um indicador desportivo, mediante um sistema de pontuações, com o intuito de verificar o desempenho económico e desportivo de cada sociedade nas diferentes competições (nacionais e europeias) em que participou. De forma a comparar estes dois desempenhos, foram elaborados rácios que agrupavam o indicador desportivo e os proveitos operacionais.
As principais conclusões retiradas deste estudo demonstram que existem duas sociedades, que se encontram numa situação de desequilíbrio financeiro, sendo estas a SCP, e em pior situação a FCP, uma vez que obtiveram valores, em comparação com as restantes SAD’s, muito inferiores em quase todos os rácios e indicadores elaborados. Em situação contrária encontra-se a SLB que tem vindo a melhorar a sua situação financeira desde o início deste estudo, apresentando valores positivos em quase todos os rácios e indicadores analisados. A SCB apresenta valores que tendem para um equilíbrio financeiro, porém não tão claros como os da sociedade referida anteriormente.
ABSTRACT: Taking into account the high monetary amounts disclosed and traded among the largest sports organizations in Europe, often amounting to hundreds of millions of euros per year, it is important to verify whether or not there is a financial balance in them. Therefore, it is also important to verify this same balance in the biggest football clubs in Portugal, organized in Sociedades Anónimas Desportivas (SAD’s). This study has as main objective to verify the existence or not of financial balance in the four Portuguese SAD’s that usually presented the best sports results. Those are: Sport Lisboa e Benfica – Futebol SAD (SLB); Sporting Clube de Portugal – Futebol SAD (SCP); Futebol Clube do Porto – Futebol SAD (FCP); Sporting Clube de Braga – Futebol SAD (SCB). The analysis of the financial balance of these organizations was prepared according to the application of different ratios and indicators of financial analysis, to the values present in the financial documents of each SAD, that is, in their accountancy reports. In this study, all balance sheets, income statements, as well a s their respective annexes, over a period of six sports seasons were analyzed. This study was prepared taking into account a comparative perspective between the four SAD’s, as well as a longitudinal perspective, between the 2013/2014 season and the 2018/2019 season. In order to complement this analysis, a sportive indicator was elaborated, through a scoring system, in order to verify the economic and sporting performance of each society in the different competitions (national and european) in which it participated. In order to compare these two performances, ratios were drawn up that grouped the sportive indicator and operational profits. The main conclusions drawn from this study demonstrate that there are two SAD’s, which are in a situation of financial imbalance, those being the SCP, and in a worse situation the FCP, since they obtained values, in comparison with the other SAD's, much lower in almost all ratios and indicators. In the opposite situation is the SLB, which has been improving its financial situation since the beginning of this study, presenting positive values in almost all the ratios and indicators analyzed. The SCB presents values that tend towards a financial balance, but not as clear as those of the SAD mentioned before.
ABSTRACT: Taking into account the high monetary amounts disclosed and traded among the largest sports organizations in Europe, often amounting to hundreds of millions of euros per year, it is important to verify whether or not there is a financial balance in them. Therefore, it is also important to verify this same balance in the biggest football clubs in Portugal, organized in Sociedades Anónimas Desportivas (SAD’s). This study has as main objective to verify the existence or not of financial balance in the four Portuguese SAD’s that usually presented the best sports results. Those are: Sport Lisboa e Benfica – Futebol SAD (SLB); Sporting Clube de Portugal – Futebol SAD (SCP); Futebol Clube do Porto – Futebol SAD (FCP); Sporting Clube de Braga – Futebol SAD (SCB). The analysis of the financial balance of these organizations was prepared according to the application of different ratios and indicators of financial analysis, to the values present in the financial documents of each SAD, that is, in their accountancy reports. In this study, all balance sheets, income statements, as well a s their respective annexes, over a period of six sports seasons were analyzed. This study was prepared taking into account a comparative perspective between the four SAD’s, as well as a longitudinal perspective, between the 2013/2014 season and the 2018/2019 season. In order to complement this analysis, a sportive indicator was elaborated, through a scoring system, in order to verify the economic and sporting performance of each society in the different competitions (national and european) in which it participated. In order to compare these two performances, ratios were drawn up that grouped the sportive indicator and operational profits. The main conclusions drawn from this study demonstrate that there are two SAD’s, which are in a situation of financial imbalance, those being the SCP, and in a worse situation the FCP, since they obtained values, in comparison with the other SAD's, much lower in almost all ratios and indicators. In the opposite situation is the SLB, which has been improving its financial situation since the beginning of this study, presenting positive values in almost all the ratios and indicators analyzed. The SCB presents values that tend towards a financial balance, but not as clear as those of the SAD mentioned before.
Description
Dissertação de Mestrado, Ciências Económicas e Empresariais (Finanças e Contabilidade), 5 de julho de 2021.
Keywords
Desporto Equilíbrio Financeiro Sociedade Anónima Desportiva Financial Balance Sport
Pedagogical Context
Citation
Soares, Samuel Lima (2021). "Equilíbrio financeiro nas sociedades anónimas desportivas: estudo de caso comparativo de quatro sociedades - SCP, SLB, FCP e SCB". 121 p.. Mestrado em Ciências Económicas e Empresariais (Finanças e Contabilidade). Ponta Delgada: Universidade dos Açores. [Consult. Dia Mês Ano]. Disponível em www:<http://hdl.handle.net/10400.3/6136>.