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Journal of Sports Economics
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The Stock Market Effects of the Sale of Live Broadcasting Rights for English Premiership Football

An Event Study

John Gannon

EDF Energy

Kevin Evans

Cordiff University

John Goddard

University of Wales Swansea

An analysis is reported of the short-term effects of the announcements in 1996 and 2000 of the winning bids for the live English Premiership television broadcasting rights on the share prices of British Sky Broadcasting (BSkyB) and several football clubs. Over time, the commercial fortunes of football and broadcasting have become increasingly intertwined. Meanwhile, a number of leading clubs have acquired stock exchange listings. The reaction of BSkyB investors to the 1996 announcement was neutral; however, among the football clubs the reaction was favorable. BSkyB investors viewed the 2000 announcement more positively, while the football clubs' share price reaction was muted.

Key Words: English Premiership football • event study • TV broadcasting rights

Journal of Sports Economics, Vol. 7, No. 2, 168-186 (2006)
DOI: 10.1177/1527002504271351
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