Everyone’s in, on the game: financial crime and the organization of sporting events. Looking for a “virtuous” model
Pages | 75-84 |
Published date | 24 July 2020 |
DOI | https://doi.org/10.1108/JFC-05-2020-0096 |
Date | 24 July 2020 |
Subject Matter | Accounting & Finance,Financial risk/company failure,Financial crime |
Author | Sara Rigazio |
Everyone’s in, on the game:
financial crime and the
organization of sporting events.
Looking for a “virtuous”model
Sara Rigazio
Department of Political Science and International Relations,
University of Palermo DEMS, Palermo, Italy
Abstract
Purpose –This studyaims at investigating the phenomenon of financialcrime with specific reference to the
organization of major sporting events. In particular, in the light of the existing international regulatory
framework and recent cases,the study highlights how the adoptionof a “virtuous model”–from the pointof
view of transparency and legality–fully responds to the needs not only of the sports system itself but, also,
and above all,of the entire international community.
Design/methodology/approach –The paper combinesdeductive and inductive approaches in addition
to consulting and analyzingthe principal official reports on the matter, the state of the art, scholarly studies
and some of the most relevant leadingcases.
Findings –In view of the growing interest of the internationalcommunity in fighting the phenomenon of
sports manipulation, this study highlights some of the critical aspects that have so far characterized the
approach of the institutions, focusing the attention on the profile of “sustainability”and “responsibility”
understoodalso from the legal perspective.
Originality/value –Given, on the one hand, the huge economic interests that the organization of major
sporting eventsgenerate and, on the other hand, the social impact they produce as well, the study offers some
insights on the need to adopt a sort of “third way,”a virtuous model that acts as a forerunner and that
combines respectfor the law with the peculiarity of the sports system, so that the final result can be of benefit
to the entire internationalcommunity.
Keywords Sustainability, Shared responsibility, Major sporting events, Legal model
Paper type Research paper
1. Introduction
According to the UnitedNations Office on Drugs and Crime (hereinafter UNODC), it is now:
[...] widely accepted that corruption can undermine the potential of sport and its role in
contributing to the achievement of the Sustainable Development Goals and targets contained in
the 2030 Agenda for Sustainable Development (UNODC, 2020).
That is the premise this articleis grounded on.
The first part of this paper describes the regulatory framework of reference, with particular
focus on the international documents (UN Resolutions, EU Communications) adopted in the past
few years and the very recent approval on September 2019 of the so-called “Macolin Convention.”
The analysis of these sources will allow to carry out some considerations on the organization of
major sporting events and, consequently, to identify some key elements on the topic.
The second part is dedicated to the study of the successful candidacy of Milano-Cortina
for the Winter Olympic Games of 2026.
Financial
crime
75
Journalof Financial Crime
Vol.28 No. 1, 2021
pp. 75-84
© Emerald Publishing Limited
1359-0790
DOI 10.1108/JFC-05-2020-0096
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