CONCLUSION.
At the end of this study, our concern was to show that
football took another dimension, in its internationalization. Conduit naturally
by the clubs, it became an economic activity which makes the latter of true
companies. For this reason, the rich clubs of football of the countries of
Europe developed these last years of the strategies pushing them to be
established abroad. With the creation of the centers of formation, are
juxtaposed other forms of agreements, with the analysis of which the thesis of
a direct investment or wallet is not to exclude. It is at this point that we
tried a comparison between the multinational corporations and the clubs of
football which we then described as clubs firms.
Indeed, except the divergence on the definitions of concepts
basic, namely club and undertaken, convergence in the realization of an
economic activity made return to a certain extent, the teams of professional
football in the category of companies ; given that that for the clubs of
football, it acted by-there spectacular metamorphosis dating from the Eighties.
However, it would be incomplete to specify only well that
carrying out investments abroad, those must be compared to the direct foreign
investments i.e., investments which imply a long-term relation, thus reflecting
a durable interest of an entity resident of a country of origin (direct
investor) on an entity resident (the invested company) of another country and
with those of wallet.
In GBA, the Batavian club of Ajax not only took
participations, but in more it directs and controls the management of the
Belgian club. While, in Africa, more precisely in South Africa or Ghana, Ajax
started by placing money ; what does not exclude a possible progression
towards the foreign direct investment.
Already, the establishment of the functional bonds moving more
encourages to color that it will convert soon its participations into true
strategies of foreign direct investments. Because, it is retained a long time
that « this last type of investment not represents a simple purchase
of actions or titles, but the financing provided by foreign interests which,
not only, hold part of the capital of the company but take part directly in the
management of the latter ». (World Investment Carryforward, 1996.)
Difference between two concepts resides, according to
MUCCHIELLI J.L (1998, p. 46) in this that «in the first case, there is a
logic of production, the company which has participations in a subsidiary
company will want to influence the production of the latter, its management,
its strategy, etc In the case of an investment of wallet, the acquisitions of a
holding, in the forms of purchase of actions or other modes, are perceived only
like one financial placement ; a simple strategy of diversification of the
risks in the national and international placements will thus justify this form
of investment. «.
Our approach to compare the forms of economic
internationalization of football to operations of direct or indirect investment
starts from this specific characteristic of a foreign direct investment and
holds its base of the bringing together between what the clubs of football are
évertuent to carry out abroad and the consideration of a IDE.
Indeed, the International Finance Corporation, SFI, (1997, p.
11) point out that « for reasons of a statistical nature, the
International Monetary International Monetary Funds (the IMF) considers that a
foreign investment is direct when the investor holds at least 10% of the own
capital stocks of the company, this percentage being generally considered to be
sufficient so that the investor has sees in the chapter ». However
Ajax controls GBA to the amount of 51% of the capital of this last.
Lastly, let us note that a similarity of the objectives makes
it possible to differentiate nevertheless the contents from the advantages of
the multinational corporations of that of the clubs of football.
Ø Similarity of the objectives.
The reasons which push an investor to be wished to be
established always worried all those which seek to bore the universe of the
multinational corporations. And the first to find some of them, Hymer thinks
that «to ensure the safety of its investment and to control the whole of
the output of the funded capital on the one hand, and to modify the structures
of competitions between firms » are the two principal reasons which
lead an investor to wish to take the control of a foreign company. (Mucchielli
J.L., COp cit., p. 17).
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