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This paper identifies five types of insolvency in English football: clubs that have failed to cope with relegation; failed to pay monies due to the UK government; seen 'soft debts' become 'hard debts'; lost the ownership of their stadium; or have been 'repeat offenders'. As the second of a three-phase research project, the paper concludes with an indication of the final phase research and implications of the findings so far for other professional sports.

This paper reviews the literature on therapeutic process specific to sexual offender treatment. The general clinical literature emphasises the importance of therapist style, the client's perceptions, the therapeutic alliance and cohesiveness. We highlight the importance of therapist characteristics, group cohesion and emotion in effective treatment of sexual offenders. Implications for programming and research are emphasised.

Literature findings suggest a powerful role for Web sites in football club marketing. The authors used this as a springboard for an exploratory study which combined qualitative interviews with empirical observations of football Web sites. Links were discovered between clubs’ marketing orientation, departmental structure and subsequent Web site management. The size of the club was also found to be important, but more in relation to a lack of marketing presence than in relation to economic factors. Club motives for Web site development reflected the growing commercial development of football in the UK, with some clubs concentrating on ticketing and merchandising. Others concentrated on adding value to supporter services with devices such as daily news items. Relatively few clubs were gathering data on their supporters. These findings reflect differing awareness and attitudes of club managers towards relationship marketing with their supporters. A number of future research opportunities have been identified.

THE serious and intractable housing problem persists to plague governments and embitter citizens. Why this is so can be gleaned from a few statistics.

The following is an introductory profile of the fastest growing firms over the three-year period of the study listed by corporate reputation ranking order. The business activities in which the firms are engaged are outlined to provide background information for the reader.

Perhaps the most difficult objection raised by skeptics of the real options approach concerns the apparent lack of market transactions that would verify that real options have actual value. Although there are no organized exchanges with publicly disclosed prices, there are nevertheless several mechanisms for buying and selling real options. Observing these could offer important advantages in the quest for enhancing the role of real options in financial decision making:•demonstrate that real options can indeed add value•in some cases even gain a sense of the amount of value added by real options•offer expert appraisers methods for improved estimation of the value of a business when real options are part of the organizational capital

The most frequently used method for buying or selling real options occurs when a product that includes real options is sold to customers (often at a premium above the price of a comparable product that does not include real options). Real options that are part of the organizational capital of a business are part of the package in an acquisition (or minority equity position). In this chapter we examine several cases of such transactions.