Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/275047 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 15 [Issue:] 12 [Article No.:] 570 [Year:] 2022 [Pages:] 1-13
Publisher: 
MDPI, Basel
Abstract: 
Through restrictions and people's behavioral changes with regard to public events, the COVID-19 pandemic has had a massive financial impact on professional team sports clubs. Particularly, many smaller clubs that are more dependent on match-day revenues were facing an existential struggle. In this study, we examined the willingness of fans to contribute financially to help their favorite teams to overcome financial difficulties caused by this unforeseen operational risk. Moreover, we investigated the significance of the level of team identification among fans as an antecedent for willingness to pay. Analyzing the data from an online survey with 178 respondents, we found that fans would be willing to participate in fundraising campaigns to support their favorite teams. Among the fans of small clubs, the level of identification drives the willingness to support. On the one hand, the findings are encouraging for clubs as they underscore the potential role fans could play in overcoming the current crisis while showing that including fans in future risk management strategies is a promising approach. On the other hand, for this to be successful, clubs need to unravel and invest in measures for nurturing the fans' identification with the team.
Subjects: 
COVID-19
crisis management
risk management
professional team sports clubs
sports management
team identification
willingness to pay
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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