The Impact of Governance in Achieving Financial Sustainability for Sports Clubs in the Kingdom of Saudi Arabia
DOI:
https://doi.org/10.56830/IJAMSSI202611Keywords:
Governance, Financial Sustainability, Sports Clubs, Transparency, Accountability, Financial Control, Vision 2030, Saudi ArabiaAbstract
This research aims to measure the impact of applying governance standards (transparency, accountability, and financial control) on the financial sustainability of sports clubs in Saudi Arabia. This aligns with the goals of Vision 2030 and sports privatization. The problem of the study comes from the financial challenges some clubs face, such as accumulated debts and weak self-resources. The researcher used the descriptive-analytical approach. A questionnaire was used as a tool to collect data from a random sample of 80 decisionmakers, financial, and administrative managers in various sports clubs. The study reached important results. The main result is a strong and statistically significant positive impact of governance in improving financial sustainability, with an impact rate of 60.9%. The results also showed a very high commitment from the clubs to apply financial control, especially by using an external auditor. There was also clear success in reducing financial waste and debts. However, the results revealed a weakness in building diverse investment portfolios and a lack of an emergency financial reserve policy. The study recommended the need to build independent real estate and commercial investment portfolios, develop digital platforms to improve transparency and disclosure, and strictly follow a salary cap. This is to ensure that clubs transform into sustainable and financially independent investment entities.
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