Affiliation:
1. Centre de Droit et d'Economie du Sport Université de Limoges Limoges France
2. Foot Mercato Lyon France
3. Seeburg Castle University Seekirchen am Wallersee Austria
Abstract
AbstractFootball players represent the key assets of football clubs, and their value determination is therefore at the heart of clubs' investment and decision‐making processes. Unsurprisingly, the topic of player value has attracted the attention of scholars from various disciplines for decades. Despite this, there is a corpus of academic literature, which, although it works empirically with the relevant data, does not discuss any of the concepts related to the terms ‘value’ and ‘price’ in depth. Conversely, there are studies that do so but do not present a unified and coherent concept of the terminologies used. Consequently, no comprehensive definition of the value of football players seems to emerge from the literature. The central aim of this paper is to fill this gap. Based on a critical review of existing literature, we propose a unified framework embedded in subjective value theory, particularly as formulated by the Austrian school of economics. As a result, this work presents a theoretical basis for defining the use value and market value of football players, the comparison of which can improve clubs' decision‐making. In this context, we also discuss the conceptual validity of Transfermarkt values, a widely used crowd‐sourced valuation tool. Overall, we seek to strengthen the link between economic theory and practical management problems in the football industry. Furthermore, our results are not solely limited to football but are also applicable to athlete valuation in other sports.
Subject
Management of Technology and Innovation,Management Science and Operations Research,Strategy and Management,Business and International Management
Cited by
1 articles.
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