This article will examine business companies that operate as football clubs, while are, simultaneously owned, fully or partially, by the Municipalities. For each of the companies we will also see their annual turnover, as well as the profit before tax. What we observe is that, the local football clubs companies, carry consistently financial losses and generally, are kept active through financing and subsidies from the budgets of respective Municipalities.<\/p>\n\n\n\n
We will start with the Tirana<\/a> Football Club, a company whose 34% of the shares are owned by the Municipality of Tirana and the remaining of the shares are owned by the company Halili shpk<\/a>. Referring to the financial statements, the company reflects losses on the balance sheet in 2021. The company has not published in the National Business Center its financial statements of 2017 and 2019. The losses of last year are as much as 53.2% of the annual turnover. The company\u2019s administrator is Mr.Refik Halili.<\/p>\n\n\n\n