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Liverpool Football Club and Athletic Grounds Plc

C/F/149. Corporate Governance: the case of Liverpool Football Club

WORDS:

1500

DATE:

2006

PRICE:

19.99 GBP

This report examines the extent to which Liverpool Football Club plc adheres to the UK corporate governance guidelines. British corporate governance guidelines protect the interests of shareholders by requesting certain shareholder-oriented measures and disclosures of key information relevant to shareholder interests. Football club industry is a special industry with large capital fund movements as well as volatility cash flows associated with the club performance. Therefore, following UK corporate governance guidelines can build up shareholder confidence in and create better image of British football clubs. This report presents a detailed analysis of corporate governance of Liverpool Football Club based on its 2005 annual report. This evidence suggests that British football clubs are not complying with these governance guidelines well. There is a considerable need for further improvements of corporate governance of professional football clubs in England as argued in Michie and Oughton (2005).

KEYWORDS: Liverpool Football Club, Financial Reports, Corporate Governance, Codes of Corporate G,