Deloitte Turkey CFO Series 2016/3 : Being a CFO in a football Club
“Being a CFO in a football club” study prepared by Deloitte Turkey CFO Services Leader Cem Sezgin, indicates that CFOs of Football Clubs have many responsibilities and there are a lot of similarities between football and finance thus coach and CFO.
In the report, the main reasons of why the football clubs and especially their CFOs face many difficulties are listed as below:
· Clubs are in tough competition both domestically and abroad.
· Clubs are active in both B2C and B2B fields. This situation complicates the picture from an administrative point of view.
· Although they are subject to regulation in the country and globally, there are still a lot of points where they are distant to corporate governance.
· They contain non-profit foundation and the subsidiary which tries to improve the stock performance simultaneously.
· They have structural difficulties to manage professional and amateur branches in the same pot.
· The huge increase in income, but even great increase in costs. The debt is growing like a snowball.
· There is an unquestionable brand value but due to the financial statements the sustainability is being questioned.
· It is not easy to establish and maintain the triple balance (Social - Sporty – Economic)
Clubs not only provide revenue from football
According to report, Football clubs operate in many diversified fields that, each one of them is almost like a medium-sized holding. Therefore, CFO’s / financial directors have many significant responsibilities.
Why finance and football, CFO and Coach are similar to each other?
Report emphasizes that the actors of football and finance are quite similar and, the roles and the functions have impressively significant resemblances. It is important not only to protect organization's assets but also to increase the value of organization and by doing these, it is critical to be integrated with all function and to make sustainable relationship with external shareholders.
Reading the game well = Analyzing the business well
Leaders of sector show up in the Champions League. Nowadays, CFOs are popular in media as well as the Coaches. Especially in US, in the publicly traded and big companies, CFOs are always being reported by media. So which one is more acceptable? Being a CFO or being a coach? In the world's leading companies and leading clubs, they offer a performance-based financial package for both positions instead of flat pricing.
Deloitte Turkey CFO Series: 2015/1 The role of the finance function in performance management
The second issue of Deloitte Turkey CFO series provides CFOs’ perspectives and comments with regards to performance management gathered through one to one meetings, workshops and panel discussions. The issue also contains point of views of 40 different CFOs on performance management who have contributed to the book titled as “CFO’s of Turkey” written by Deloitte Turkey’s CFO Services Leader Cem Sezgin.
CFOs Between Waves - Importance of balance and timing
In this third report of the CFO series, Deloitte Turkey and Ekonomist magazine have collaborated to focus on senior management’s expectations of concrete observations and future.
In the eve of a new year, the report which focuses on the new trends of economy, includes interviews with 63 CFOs about their views on these changes.
Changing Roles of CFOs
This report written by Deloitte Turkey in cooperation with Ekonomist Magazine explores CFOs’ points of view to business life and their agendas for the future. The report also includes a special section about a CFO’s life in a rapidly changing and globalizing world..
Deloitte CFO Series 1: What is CFO ?
In Turkey, there is not a specific terminology to define “What a CFO is”. In many companies there are different titles and names used for CFOs. The main reason for that situation is the fact that CFO is typically related to what he/she does and is responsible of. Therefore, CFO’s responsibilities and duties need to be explicitly defined. In this report, you can find answers to these quesitons and also we focus on how global and Turkish companies tackle this issue.
Deloitte CFO Series 2: Post-Milennium CFO 10 leading issues that shaped the last decade
In this report, we have focused on the 10 leading issues that are shaping the agendas of the CFOs in the post-milennium era. These are;
Globalization, regulation, technology, human resources, operating model, growth, business partnering, financial instruments, capital raising and financial analysis.
CFOs of the Future
This survey reveals the leading CFOs’ strategic and catalyst roles under global competitive climate. The report also gives clues about the changes that CFO and the finance functions are to face during the next 10 years.
Things that Board Members know and do not know about the health of their companies
This report includes a survey run with 87 board members and senior executives In our survey, we can see that, despite the importance of financial indicators, nonfinancial indicators also have an important role in the decision making process for the Board and top management.