On the other hand, existing models on insolvency prediction for the football industry have been designed to predict the bankruptcy of clubs, which was the most important concern in past decades. However, following, by focusing the study on insolvency in a single industrial sector, more reliable databases are obtained, with a greater amount of personalized information, and therefore, the models created are more precise. Some authors have conducted research on the insolvency of football clubs, but only developing broad proposals in terms of objectives and using variables taken from the general literature on insolvency. The aim of this concept is to reduce the unfair financial game in European football (the non-payment of debts to other clubs or employees) and 'financial doping' (excessive financing to cover the losses derived from the expenses in player signings), putting the focus on the control of the financial statements of the clubs. In response to the serious financial situation of many clubs that regularly participate in European competitions, UEFA developed the concept of Financial Fair Play (FFP) as an extension of their licensing regulations. Therefore, previous literature has pointed out that the balance of the club's profit and loss account is the variable that best explains the financial position of European club football. They also have administrative implications, and clubs are subject to economic sanctions and relegations. A situation of losses has repercussions of sports competitiveness since it makes impossible the improvement of the level of the players' staff, as well as it hinders the investments in the infrastructures of the club. Only in the 2016/2017 period, the Union of European Football Associations (UEFA) investigated more than 70 clubs for this reason. Recently, many European football clubs have shown financial problems derived from situations of great losses obtained in their activity. This is not an alien problem in the management of football clubs. This has evidenced the lack of effective and specific models that control the risk of insolvency and its prediction. Insolvency is a global problem that affects companies of any country and industry, where the importance of control has increased in the last decade as a result of the financial crisis of 2008. It also offers a vision of the challenges facing the football industry in financial matters, helping the different interest groups to assess the financial solvency expectations of the clubs. The present study provides a new model of prediction of financial distress for the football industry with an accuracy that exceeds 90%. Since recently the governing bodies of the football industry have increased the financial control of the clubs, as in the case of UEFA with the approval of the Financial Fair Play Regulation and demand a pronouncement on going concern in the annual financial statements of clubs as well as presenting a break-even deficit caused by losses, it seems necessary to have a model adapted to the characteristics of this industry. However, a specific model that reflects the special characteristics of the football industry has not yet been created. These models have focused exclusively on industrial and financial companies. The study of financial distress has been the focus of financial research in recent decades and has led to the development of models for predicting financial distress that help assess the financial situation and the risks faced by companies.

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