Resource dependence in football clubs: An analysis of the interplay between capital gains from athletes and media revenues in Italian Serie A League

This study delves into the financial strategies of Italian Serie A football clubs, focusing on the relationship between revenues obtained through the sale of players’ tags and those from broadcasting and media rights. Using Resource Dependence Theory (RDT) as lens, this research aims to understand how clubs strategically manage these two critical revenue streams amidst external pressures and dependencies. The analysis of balance sheet data, from nine clubs over eight seasons, reveals a significant negative correlation between the two variables for “long-lasting” clubs, suggesting a potential shift in response strategies to external market conditions, while it finds different results from incoming and/or growing ones. Findings offer insights for stakeholders in the football industry, emphasizing the need for agile management and governance structures.