摘要
我国职业足球俱乐部的运营模式、股权结构以及融资能力尚未充分实现市场化,因而其面临着盈利能力薄弱、股权高度集中、融资壁垒较高等多方面的挑战.这些问题的叠加导致许多职业足球俱乐部深陷债务危机之中.为摆脱这一困境,职业足球俱乐部急需重整机制的支持,以市场化的方式主动解决自身债务问题.职业足球俱乐部具备特殊的重整价值,包括人力资源价值、地方文化价值、球队品牌价值.职业足球俱乐部重整机制的构建应当注意限制"金元足球"运营模式,优化俱乐部股权结构及出资形式.中国足球协会可尝试建立行业内部的预重整程序.在特殊情形下,法院可对俱乐部及其母公司适用深石原则或实质合并规则.
Abstract
Chinese professional football clubs have not yet fully marketized in their operation mode,shareholding structure and finan-cing ability.As a result,they face multiple challenges,including weak profitability,highly concentrated equity,and high financing barriers.The compounding of these issues has led many professional football clubs into a debt crisis.To escape this predicament,Chinese professional football clubs urgently need the support of reorganization mechanisms to proactively address their debt issues in a market-oriented manner.Chinese professional football clubs possess unique reorganization values,including human resource value,local cultural value,and team brand value.The construction of reorganization mechanisms for professional football clubs should focus on limiting the"money-oriented football"operational model,optimizing the club's equity structure,and investment forms.The Chi-nese Football Association could consider establishing a pre-reorganization process.In special cases,courts could apply the Deep Rock principles or substantive consolidation rules to the clubs and their parent companies.
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