Research On High Quality Capital Operation Of Chinese Professional Football Clubs

China’s economy has made great achievements in the development of the past decade,the economic value of the sports field has gradually been valued by social capital,professional football clubs as the main force of sports economic development,its growth has a profound impact on the overall performance of China’s sports economy.In the context of the exploratory reform of Professional Football in China,the development of Chinese football is not ideal.Since the introduction of the new policy of the Football Association in December 2020,problems such as salary arrearage,dissolution and unreasonable replacement of equity rights have been pushed to the top of the storm.At present,the development efficiency of both domestic and overseas Chinese football clubs is at a low level,and it is difficult to fill the huge gap of club development only by means of macro team business model and government subsidies.In this study,professional football clubs are regarded as economic entities with independent legal personality to promote the economic performance of clubs by improving the quality of capital operation,and then promote the overall development of clubs.This research is focusing on achieving high-level capital operation.Combined with the unique industry characteristics of Chinese professional football clubs,this paper specifically studies capital operation from three aspects of merger and acquisition,financial performance and financing,so as to improve the quality of capital operation of Chinese football teams and provide ideas for solving the development dilemma of Chinese football teams.The research methods and theories adopted in this paper reflect the characteristics of interdisciplinary research,and this paper pays attention to the migration and integration of parent disciplines and sub-disciplines in the selection of research methods and theories.The literature method and the case analysis method are the basis for this research,and the mathematical statistics method and the financial analysis method are the tools to promote the development of research.This paper mainly provides support for the article through the summary of relevant research,the analysis of club capital operation cases,the sorting out of relevant policies,and the interpretation of financial statements.Modern enterprise theory is the theoretical perspective of defining professional football clubs in this study,value investment theory is the theoretical perspective of this research to analyze Chinese enterprise investment football clubs,synergy theory is the theoretical perspective of this research to understand the connection between Chinese capital and professional football clubs,and the theory of interest correlation is the theoretical perspective of this study to improve the quality of capital operation of Chinese professional football clubs.This part is about the research steps and process of high quality capital operation of Chinese professional football clubs.First,reflect the institutional environment of capital operation in the form of documents and policies.Secondly,this paper analyzes the M＆A alienation phenomenon of Chinese M＆A professional football clubs from three aspects: M＆A motivation,M＆A equity and M＆A integration.Thirdly,the collection of cases,by calculating and sorting out the case clubs’ asset-liability ratio,liquidity ratio and other financial indicators to analyze the clubs’ debt paying ability,operation ability,profitability,growth ability,which is also a typical paradigm of financial analysis.Finally,combined with the theoretical basis of financing,from the purpose,way and situation of club financing to study the shortcomings and potential of Chinese professional football clubs financing.The research on capital operation of Chinese professional football clubs is made up of merger and acquisition,finance and financing.Through the research and analysis of the fourth chapter,the problems of capital operation of Chinese teams are mastered to a certain extent:（1）Capital acquisition motivation and capital equity allocation problem.（2）Debt,cash flow,financial risks caused by expansion and other financial loopholes.（3）Single financing method,low financing credit and so on.Based on improving the quality of capital operation and providing solutions for Chinese professional football clubs,this paper will start from three aspects of capital operation of Chinese professional football clubs:（1）The basic level,the financial sector、football association and the football league should do their job,perfect the assets appraisal standards,the implementation of good financial fair policies,safeguard the rights and demands of the club.（2）On the core layer,put forward "began in mergers and acquisitions,focusing on financial,promoting in financing" logical line of capital should be taken to tighten M＆A strategy,Clubs should adjust their development behavior according to short-term financial performance and pursue diversified financing methods represented by listed financing.（3）At the extension level,the club should pay attention to the asset base or potential of the club itself,pay attention to explore the leverage effect of competitive level on capital operation,and realize the diversification and multi-level of the composition characteristics of senior executives.