World football is increasingly characterized by heightened commercialization, with large European clubs often being owned by wealthy investors. Swedish football clubs, on the other hand, are subject to the 51%-rule, meaning that members are majority owners. Financial management in football clubs is complex due to revenue and costs often being dependent on sporting success and characterized by high volatility. Football is a unique industry where human capital constitutes the primary asset. Unlike traditional industries, football clubs, if certain criteria are met, can activate football players as an intangible asset on the balance sheet. The aim of the study is to describe the challenges in financial management in Allsvenskan football clubs from the perspective of leading individuals within the clubs. Furthermore, the existing accounting guidelines for human capital and player valuation in the football industry will be outlined, and whether these provide a fair representation of the clubs’ financial position and if improvement measures are possible will be investigated. To fulfill the aim, we employed a qualitative method with an abductive approach and conducted semi-structured interviews. Interviews were conducted with leading individuals from five Allsvenskan clubs and three stakeholders closely associated with football. The study reveals that Allsvenskan football clubs face a large number of challenges related to financial management. Furthermore, it is noted that current accounting guidelines provide the most accurate depiction of football clubs’ assets and that an alternative valuation method is unlikely.World football is increasingly characterized by heightened commercialization, with large European clubs often being owned by wealthy investors. Swedish football clubs, on the other hand, are subject to the 51%-rule, meaning that members are majority owners. Financial management in football clubs is complex due to revenue and costs often being dependent on sporting success and characterized by high volatility. Football is a unique industry where human capital constitutes the primary asset. Unlike traditional industries, football clubs, if certain criteria are met, can activate football players as an intangible asset on the balance sheet. The aim of the study is to describe the challenges in financial management in Allsvenskan football clubs from the perspective of leading individuals within the clubs. Furthermore, the existing accounting guidelines for human capital and player valuation in the football industry will be outlined, and whether these provide a fair representation of the clubs’ financial position and if improvement measures are possible will be investigated. To fulfill the aim, we employed a qualitative method with an abductive approach and conducted semi-structured interviews. Interviews were conducted with leading individuals from five Allsvenskan clubs and three stakeholders closely associated with football. The study reveals that Allsvenskan football clubs face a large number of challenges related to financial management. Furthermore, it is noted that current accounting guidelines provide the most accurate depiction of football clubs’ assets and that an alternative valuation method is unlikely.