Research On Risk Evaluation Of Asset Securitization Of Professional Football Clubs

Professional football club as an important carrier of the event service,and as a sports strategy from the competitive sports to the professional sports transition of the first army,carrying the historical mission of China's sports industry changes.However,the professional football club is a capital-intensive enterprises,the current domestic enterprises generally exist in the financial difficulties of a serious obstacle to its healthy development.In order to solve this problem,the use of asset securitization of this new way of financing,the professional football club tickets on the day of the event or the proceeds of the proceeds from the spin-off,the formation of credit rating higher than the club's own asset-backed securities to sell,so To achieve the purpose of financing.This can reduce the club's financing costs,broaden the financing channels,but also the introduction of private capital,to expand the degree of domestic football industry market.In terms of asset securitization,risk management is the most concern of researchers and practitioners,both in research and practice.Risk management is based on risk identification and risk assessment,the correct identification of risks,the establishment of a scientific and effective risk assessment system is the first step in risk management.Unfortunately,domestic and foreign research on asset securitization in the field of sports industry has increased year by year,but it is rare to focus on its risk,especially in risk assessment.In the domestic sports industry to accelerate the development of sports enterprises,especially professional football clubs more and more rely on external financing of the moment,can not solve the problem of asset securitization risks,through the way of asset securitization to obtain financing is out of the question.Therefore,this study takes the risk of asset securitization of professional soccer club as the research object.On the basis of introducing the principle of asset securitization and analyzing the feasibility of asset securitization of domestic professional football club,according to the reasons of risk,the domestic professional football club assets securities The risk is divided into macroeconomic risk,credit risk,securitization structure risk and intra-industry risk.Then,the Delphi three-level risk evaluation index system of professional soccer club based on the above four kinds of risk is established by Delphi method,and then the risk evaluation model of professional football club asset securitization based on fuzzy comprehensive evaluation method is established.In the empirical analysis,this study combined with industry experts and Guangzhou Hengda Taobao Football Club financial data and other public information on the Guangzhou Evergrande Taobao Football Club game voucher asset securitization risk evaluation,the results show that Guangzhou Hengda Taobao Football Club The risk of asset securitization is medium,and the credit risk and the internal risk are large.It is feasible to evaluate the risk of asset securitization of professional soccer club established by this study,which is consistent with the facts and more objective.Finally,the risk of credit risk and the internal risk of the industry is twokinds of risks,starting from the two dimensions of the club itself and the sports industry environment.It is proposed to increase the stability of the ticket revenue by improving the team's athletic performance and change the player purchasing mode to reduce the operating cost,To create a club culture brand building,the implementation of two rights separation and player equity incentive plan to improve the club corporate governance structure and other means to reduce the professional football club as asset securitization initiated the main credit risk.At the same time from the guidance of sports consumption,improve the tax system,increase the perspective of financing channels to increase competition in the sports industry in the proportion,encourage the club and the University of football schools,soccer games to combat false black gambling behavior to reduce the professional football club The Internal Risk of Industrial Securitization.