The Capital Structure of Football Clubs

  • Stephen Morrow


The phrase capital structure refers to the way in which a company is funded for the medium to long term. In practice the distinction between short term financing and long term financing has become blurred, as financial innovations and changing presentation methods have allowed enterprises more freedom to obtain financing over different future time periods. As a general rule we can use the following definitions:
  • short term’ — less than three years, but usually less than one year;

  • medium term’ — three to ten years; and

  • long term’ — over ten years.


Abnormal Return Stock Exchange Capital Structure Share Price Market Maker 
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Copyright information

© Stephen Morrow 1999

Authors and Affiliations

  • Stephen Morrow
    • 1
  1. 1.Heriot-Watt UniversityEdinburghUK

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