The current study analyzed how a regulatory agency – the Direction Nationale du Contrôle de Gestion (DNCG) – has adapted to institutional change. The DNCG is responsible for the financial regulation of French football competitions, in a context marked by the financialization of European football and the introduction of national regulations intended to contain this phenomenon.
We adopted a qualitative approach in which we analyzed semi-structured interviews with eight members of the DNCG, as well as the regulations issued by the DNCG.
Analyzing these interviews and regulations revealed how the DNCG has adapted. From a technical standpoint, the DNCG has expanded its authority and adopted new regulatory tools, while continuing to pursue its objective of ensuring that clubs remain solvent. Our results also highlight the persistence of a liberal regulatory philosophy that only partially challenges the financialization of the sector.
Often considered drivers of change, regulatory agencies also adapt in response to changes in their institutional environment. The current study used a multi-level perspective to assess the consequences of supranational institutional change on one such national regulatory agency. Our analysis enabled us to identify the ways in which the DNCG has responded to new prerogatives set by the legislator in response to the increased financialization of professional football.
