Football industry strategic contextualisation and developmental choices: the case of Cyprus, EU Online publication date: Thu, 16-Feb-2023
by George Yiapanas; Alkis Thrassou; Demetris Vrontis
J. for Global Business Advancement (JGBA), Vol. 15, No. 3, 2022
Abstract: Transcending the confined perspective of football being a mere sport or activity, football is, at the very least, a business with massive financial influence. In Cyprus, football is considered a social phenomenon with a notable impact on public life and an essential part of its culture presenting certain traits. However, regardless of its growth, the industry is facing numerous issues that if not properly assessed and resolved, could create an unstable situation that may affect its sustainability and lead to a financial collapse. This research empirically examines the industry's critical parameters and recommends choices for its strategic development. Methodologically, the research adopted the qualitative approach, gathering data through 23 semi-structured, face-to-face interviews with clubs' high-ranked board members and senior staff, and with key industry stakeholders. The findings reveal that the industry is going through a long period of uncertainty and insecurity, with its sustainability under threat.
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