This study addresses the importance and impact of the Intellectual Capital in managing Football Clubs. Managing professional Football Clubs is becoming increasingly complex in every possible way, from the Football field to managing everyday business operations. Football is not just a game; it is a real business as well. Professional Football Clubs are managed and organized like business entities, therefore their main objective is not just based on good sports results but also on developing all the other departments in order to achieve positive financial and organizational results. The awareness of the "internal" capital of a business entity is one of the crucial factors in dealing with tough market challenges and harsh competition as well as reaching business goals with the highest possible efficiency. This study shows how Intellectual Capital and the deep knowledge of its internal values represent one of the key factors and a catalyst in achieving all the goals set in the business and sports arena. Furthermore, the study investigates the financial statements of Football Clubs and certain specific positions that can be related to Intellectual Capital, it looks into and discusses about current Intellectual Capital valuation and reporting models as well as the existing definitions of the Intellectual Capital and the Intellectual Capital structure. Specifically, the study claims and investigates the strengths and weaknesses of the current valuation and reporting models of the Intellectual Capital for business entities and Football Clubs together with some positions of the current financial reporting within Football Clubs. Consequently, according to the study and investigations conducted, the study will try to expose a proposal of the Intellectual Capital definition, to propose the Intellectual Capital structure for Football Clubs and to suggest guidance in building an efficient Intellectual Capital structure within other business areas. Finally, the study will present a proposal for the efficient Intellectual Capital valuation and reporting model for Football Clubs. Keywords: