TELEVISION RIGHTS AS A SOURCE OF FUNDING FOR FOOTBALL CLUBS

In today's increasingly business-driven culture in football, the influence of clubs on sports rights, their trading, and the formation of significant revenues for teams against the televising of their matches is gradually becoming stronger. The aim of this study is to uncover and analyse some economic dimensions of television rights as a source of funding for football clubs. To achieve this objective, an analysis of specialized literature, websites, and statistical information, as well as content analysis, was conducted. The objects of analysis in the study are the television rights of some of the biggest sports leagues, specifically the football leagues in the Top 5 leagues, as well as the level of television rights revenues in Bulgaria compared to other neighboring countries. The results show that the levels and dynamics of this sector of football clubs' revenues, as well as those of sports clubs in general, are changing, and there are wide variations between different leagues, the level of competition, and popularity. There is a lull in football in the top leagues, while there is a gradation in those outside them. In the smaller football competitions, levels are only now rising after the strong regression during the COVID-19 period. It is noticeable that broadcasters over the years have made some very big bets on the growth of football and paid exorbitant amounts in previous decades, either because they got the numbers wrong or because they were trying to gain market share. Now they are imposing much more cautious behaviour and are more value-conscious than before, leading to a new era in the development of this industry.