RT Journal Article T1 International rewards and budget concentration in domestic sports leagues A1 Moreno-Ternero, Juan D. A1 Pawlowski, Tim A1 Weber, Shlomo K1 Budget concentration K1 Domestic and international competitions K1 Herfindahl– Hirschman index K1 Regulation K1 UEFA Champions League AB This paper examines the interdependence of international success and budget concentration for sports clubs. More specifically, we apply the notion of the Herfindahl–Hirschman index to examine the effect of international rewards on distortion of budget concentration and financial opportunities for sports clubs. We establish a relationship between the size of rewards and its impact on the index, thus deriving conditions under which budget concentration increases or decreases. Our results yield interesting policy implications for the regulation of prize schemes in international competitions. PB Springer YR 2026 FD 2026 LK https://hdl.handle.net/10433/26296 UL https://hdl.handle.net/10433/26296 LA en NO Moreno-Ternero, J.D., Pawlowski, T. & Weber, S. International rewards and budget concentration in domestic sports leagues. Ann Oper Res 357, 1079–1099 (2026). https://doi.org/10.1007/s10479-025-07011-x NO Universidad Pablo de Olavide DS RIO RD May 7, 2026