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A exhaustive analysis on economic situation of the Chilean soccer clubs of the First Division showed that Colo Colo, Universidad de Chile, Wanderers, Everton, O’Higgins and Audax Italiano face a “complicated financial situation that, if not corrected in time, represents a high risk of bankruptcy for these institutions“, explained the author of this report and academic from the School of Audit of the University of Valparaíso (UV), Alejandro Torres.
The researcher reached this conclusion after reviewing different financial variables based on the publicly available information, that is, the financial statements of the clubs published on the website of the Commission for the Financial Market (CMF) at the end of the previous year ( December 31, 2019), according to IFRS or (International Financial Reporting Standard).
Therefore, La Serena, which did not publish its figures according to the classified balance format, and Deportes Iquique, which did not present information at that date, were not included.
Torres explained that the analysis focused on determining the liquidity (ability to meet short-term commitments), solvency (level of indebtedness) and cost effectiveness (performance in a given period).
“After this, also with figures from the same financial statements, a bankruptcy prediction model was applied, called ‘Altman’s Z’, used to this day in the study of financial theory,” explained the professor.
Among his conclusions, the academic pointed to “the little diversification of income, since they are mostly provided by the Soccer Channel.”
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