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To address the relationships between National Associations and its stakeholders, the study initially introduces football governance within the European landscape. This intend to facilitate the understanding of potential relationships and challenges of National Associations with other entities as sponsors, private equity firms and in Public-Private Partnerships. Furthermore, is emphasized the importance of following ethical and ESG principles, noting their impact on other relationships and underscoring the need to adopt best practices and partner with ethically sound entities. Finally, the research offered recommendations for each type of partnership to support future decision-making by National Associations.