Analysis of the Conditions for Privatizing Professional Football Clubs in Iran Through the Capital Market
Keywords:
Privatization, Professional Iranian Football Clubs, Capital MarketAbstract
This study aims to analyze the conditions for privatizing professional football clubs in Iran through the capital market and to assess its feasibility based on economic, legal, financial, political, legal, technological, environmental, managerial, cultural, and social requirements. This applied research employed a descriptive-survey approach. The statistical population included stakeholders of Iran's Premier League football clubs. A purposive non-probability sampling method was used to select 384 participants comprising club managers, coaches, players, sports experts, university professors, journalists, and capital market specialists. Data collection was conducted using a researcher-made Likert-scale questionnaire, whose validity was confirmed through expert review and confirmatory factor analysis. Data analysis involved descriptive statistics, Kolmogorov-Smirnov test, and structural equation modeling (SEM) using SmartPLS 3. SEM results indicated that all examined factors significantly influence the feasibility of privatizing professional football clubs through the capital market. The path coefficient between privatization conditions and capital market integration was 0.630 with a t-statistic of 8.199, denoting a strong and significant effect. Among the dimensions, economic (β=0.980, t=4.772) and social (β=0.785, t=6.208) requirements had the strongest impact. The overall model fit was strong (GOF=0.57), supporting the robustness of the proposed framework. The findings confirm that under the fulfillment of multidimensional prerequisites, privatization of professional football clubs in Iran via the capital market is achievable. This can lead to improved management systems, enhanced financial efficiency, increased investor engagement, reduced state dependency, and support the broader economic development of the sports sector.
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