A Multidimensional Analysis of the Financial Ecosystem of European Football Leagues: The LOPCOW-MUNRA Approach
DOI:
https://doi.org/10.71125/sporteconres.39Keywords:
European football leagues, lopcow, munra, multi-criteria decision making, sports economicsAbstract
This study provides a comparative analysis of the financial performance of ten European football leagues for the 2022/23 and 2023/24 seasons using an integrated LOPCOW-MUNRA multi-criteria decision-making (MCDM) framework. Criterion weights are objectively determined using the LOPCOW method, while league rankings are derived through MUNRA, which simultaneously integrates linear, vector, and nonlinear normalizations. Data are extracted from UEFA's European Club Finance and Investment Landscape (ECFIL) Reports 2024 and 2025, covering six criteria: total revenue, wage ratio, gate receipts, TV revenue, net transfer balance, and result before tax. LOPCOW results indicate that net transfer balance carries the highest criterion weight in both seasons, followed by result before tax. Applying these weights into MUNRA, Bundesliga, La Liga, and Eredivisie rank first, second, and third in 2022/23. In 2023/24, Bundesliga retains first place while Ekstraklasa rises to second while Eredivisie retains third. Despite generating the highest revenue in European football, the Premier League ranks last in both seasons due to its high cost structure and negative transfer balance, a striking finding that challenges revenue-centric performance assessments. These findings demonstrate that cost discipline, transfer policy, and profitability are the primary differentiating factors across leagues, with significant implications for UEFA's Financial Sustainability Regulations.
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