type="main" xml:id="ecop12031-abs-0001" <title type="main">Summary</title> <p>In 2010 UEFA, the governing body of European football, announced a set of financial restraints, which clubs must observe when seeking to enter its competitions, notably the UEFA Champions League. We analyse the financial and sporting impact of...</p>

type="main" xml:lang="en" <title type="main">SUMMARY</title> </section> <title type="main">Parallel trade</title> <p> Parallel trade is the resale of a product by a wholesaler in a market other than that intended by the manufacturer. One of its consequences is that manufacturers may be prevented from price discriminating between markets that have different...</p>

Will European football keep leagues open, or adopt the American system of closed leagues? Would this reform be to the benefit of consumers? This paper develops a framework to analyse the consequences of the structure of competition - whether teams play in both national and international...