No full-text available
To read the full-text of this research,
you can request a copy directly from the author.
L'économie du sport professionnel par équipe en Europe: production, monétisation, déficit et régulation
... Il a, en effet, été montré que les résultats sportifs d'un club sont fortement dépendants de son niveau de recrutement (Szymanski et Kuypers, 1999 ;Hall et al., 2002), d'où une incitation à recruter les meilleurs joueurs possibles, dans une stratégie de « course aux armements » (Rosen et Sanderson, 2001 ;Ascari et Gagnepain, 2007). La concurrence qui en résulte entre les clubs les plus riches sur le recrutement des meilleurs joueurs, induit une inflation des salaires et des indemnités de recrutement (Solberg et Haugen, 2010) considérées comme une des explications à l'origine des difficultés financières récurrentes de l'ensemble des clubs européens de football Bouvet, 2021). ...
... A l'instar de certaines préconisations managériales issus de travaux du champ (Plumley et al., 2021), il apparaît ainsi opportun de penser la régulation en envisageant une série de mesures parmi lesquelles pourrait figurer une distribution plus équitable des revenus au sein des ligues en récompensant les comportements positifs, tout en fixant des objectifs de réduction des coûts incitatifs ou des techniques de contrôle des coûts pertinentes telles que les plafonds salariaux (ou salary caps). Au-delà de l'intérêt d'universitaires pour le salary cap (Bouvet, 2021;François et Dermit, 2021), cet outil séduit actuellement certains dirigeants. Ainsi, la déclaration d'Aleksander Čeferin selon laquelle l'UEFA réfléchit à l'instauration d'une luxury tax, mesure complémentaire associée au salary cap, suscite des motifs d'espoirs dans la tentative de régulation de l'activité 20 . ...
... Il a, en effet, été montré que les résultats sportifs d'un club sont fortement dépendants de son niveau de recrutement (Szymanski et Kuypers, 1999 ;Hall et al., 2002), d'où une incitation à recruter les meilleurs joueurs possibles, dans une stratégie de « course aux armements » (Rosen et Sanderson, 2001 ;Ascari et Gagnepain, 2007). La concurrence qui en résulte entre les clubs les plus riches sur le recrutement des meilleurs joueurs, induit une inflation des salaires et des indemnités de recrutement (Solberg et Haugen, 2010) considérées comme une des explications à l'origine des difficultés financières récurrentes de l'ensemble des clubs européens de football Bouvet, 2021). ...
... A l'instar de certaines préconisations managériales issus de travaux du champ (Plumley et al., 2021), il apparaît ainsi opportun de penser la régulation en envisageant une série de mesures parmi lesquelles pourrait figurer une distribution plus équitable des revenus au sein des ligues en récompensant les comportements positifs, tout en fixant des objectifs de réduction des coûts incitatifs ou des techniques de contrôle des coûts pertinentes telles que les plafonds salariaux (ou salary caps). Au-delà de l'intérêt d'universitaires pour le salary cap (Bouvet, 2021;François et Dermit, 2021), cet outil séduit actuellement certains dirigeants. Ainsi, la déclaration d'Aleksander Čeferin selon laquelle l'UEFA réfléchit à l'instauration d'une luxury tax, mesure complémentaire associée au salary cap, suscite des motifs d'espoirs dans la tentative de régulation de l'activité 20 . ...
This article assesses the effectiveness of the UEFA Financial Fair Play (FFP) regulations, one of the few financial regulatory tools for open leagues in Europe in two top divisions in Europe. The objective of FFP borrows from the theoretical concept of ‘soft budget constraint’ in sport finance and regulation literature. Introduced by UEFA in 2011 and fully implemented from 2013, FFP requires clubs qualifying for European competitions to comply with the financial concept of “break-even”, where football expenses should not exceed football revenues. This study uses the French Ligue 1 (L1) and the English Premier League (PL) as a case study for analysing the effectiveness of FFP and includes thirteen clubs (seven French and six English) in total. The selection of clubs was guided firstly by data access but was also restricted to clubs regularly participating in European competitions between 2011, when FFP came into effect, and 2018. The scope of the study enabled us to measure the effect of FFP with regard to the break-even rule and the payroll ratios before and after its full application by comparing the periods 2008-2013 and 2013-2018 using descriptive statistics and tests of comparisons. The results are contrasted according to the national context of the clubs studied and the indicators analysed. First, they show a general improvement in the profitability of the clubs in the sample, although the results are statistically significant only in the case of the PL. Concerning the payroll ratios, the first measure (payroll/operating expenses) decreased significantly for all clubs, with significant differences found comparatively in the case of the L1. The second measure (payroll/operating income) also decreased, but the decrease was only significant at the sample level when the trading activity was included in operating income. From a theoretical perspective, this contribution makes it possible to compare the conclusions obtained with existing works, be it predictive or empirical in nature. From a managerial point of view, it calls for UEFA to remain vigilant in respect of FFP. While the results appear to suggest that FFP has been effective in improving the financial equilibrium of clubs and their payroll ratios, the link between better financial health and good governance remains a key challenge for the industry moving forward.
Cet article ambitionne d’évaluer l’efficacité du système de Fair-play financier (FPF), un des rares outils de régulation des ligues ouvertes en Europe. Elle s’inscrit dans le cadre de la régulation financière des ligues de sports collectifs en empruntant des éléments théoriques au concept de « contrainte budgétaire lâche ». Instauré par l’UEFA en 2011 et pleinement appliqué à partir de 2013, le FPF impose aux clubs qualifiés en coupes d’Europe de respecter une règle d’équilibre financier limitant leurs montants de dépenses issues de l’activité football à ceux de leurs recettes, sans l’aide d’apports extérieurs. Pour parvenir à cet objectif, nous avons retenu sept clubs évoluant en Ligue 1 française (L1) et six en Premier League anglaise (PL). Cette sélection a d’abord été guidée par l’accès aux données et a été restreinte aux clubs participant régulièrement aux compétitions européennes entre 2011, année d’entrée en vigueur du FPF, et 2018. Le périmètre ainsi constitué nous a permis de mesurer l’effet du FPF au regard de la règle d’équilibre et des ratios de masse salariale avant et après sa pleine application en comparant les périodes 2008-2013 et 2013-2018 à partir de statistiques descriptives et de tests de comparaisons. Les résultats sont contrastés en fonction du contexte national des clubs étudiés et des indicateurs analysés. Ils montrent d’abord une amélioration générale de la profitabilité des clubs sur l’ensemble de l’échantillon même si, au niveau national, les résultats ne sont statistiquement significatifs que dans le cas de la PL. Concernant les ratios de masse salariale, le premier étudié (masse salariale/charges d’exploitation) a diminué de façon significative sur l’ensemble des clubs même si la significativité des tests de comparaison n’a été constatée, cette fois-ci, que dans le cas de la L1. Le second (masse salariale/revenus d’exploitation) a également diminué mais la baisse n’est significative à l’échelle de l’échantillon que lorsque l’activité de transfert est intégrée aux revenus d’exploitation. D’un point de vue théorique, cette contribution permet de confronter les conclusions obtenues aux travaux existants qu’ils soient de nature prédictive ou empirique. D’un point de vue managérial, elle invite l’UEFA à rester vigilante car, si les résultats sont plutôt flatteurs laissant à penser que le FPF a été efficace dans l’amélioration de l’équilibre financier des clubs et de leurs ratios de masse salariale, le lien entre meilleure santé financière et bonne gouvernance est toutefois interrogé en fin d’article.
... Un spectacle sportif peut être défini comme l'ensemble des gestes techniques qui concourent à la qualité du spectacle présentant une utilité pour les (télé)spectateurs (réalisation), effectués collaborativement dans un cadre prédéterminé (préparation-réflexion), dans le but d'obtenir un résultat final dont la valeur disparaît au terme de la rencontre (finalisation) (Bouvet, 2020). ...
Le spectacle footballistique est très attractif. Le football est en vérité un sport très mobilisateur, son caractère populaire et très compétitif font de lui le sport numéro 1 dans le monde. Les stars du football sont suivies par une large population de téléspectateurs, utilisant les différents moyens de communication disponibles et faciles. De la télévision aux réseaux sociaux jusqu’à d’autres plateformes à disposition, le football et ses acteurs sont suivis partout et de partout. Ce travail dont l’ambition principale est de comprendre les préférences des téléspectateurs trans-territoriaux, en approchant ceux qui suivent les matchs du RCA et du WAC de Casablanca. Déceler les facteurs, les raisons et les motivations qui peuvent influencer les choix de consommations du spectacle footballistique proposé par le championnat professionnel national de football.Pour mener à bien cette recherche, nous avons opté pour une approche associant une démarche qualitative s’appuyant sur une série d’entretiens semi-directifs (27 interviewés), et une démarche quantitative (1912 téléspectateurs), en optant pour le questionnaire comme outil d’investigation. Les outils en question sont adressés à des échantillons probabiliste de convenance, pour finalement tester nos hypothèses et valider notre modèle de recherche. Les traitements statistiques ont été effectués avec les logiciels IBM SPSS 20.0 et SmartPLS 2.0. Ces traitements concernent l’analyse en composante principale (ACP) en vue de vérifier l’unidimensionnalité et la validité des échelles de mesure, et l’analyse factorielle confirmatoire à l’aide de la méthode des équations structurelles afin de tester les hypothèses de la recherche.Les résultats du test des hypothèses nous ont permis d’identifier les profils des téléspectateurs marocains et les facteurs qui influencent leurs choix de consommation du spectacle télévisuel. Les téléspectateurs marocains préfèrent la beauté du jeu et la qualité du spectacle proposé, un profil esthète, est leur premier caractère. Ils sont souvent à la recherche de contact avec les autres, optant pour le partage des émotions, des avis et des commentaires. Également, un téléspectateur marocain n’est pas un opportuniste dont l’occasion du match est probante pour rencontrer des gens qui peuvent le mettre en valeur, il s’agit beaucoup plus d’un moment de partage et d’interaction, de divertissement, mais aussi et surtout d’encouragement pour son équipe. Il s’avère que plus un téléspectateur est identifié à une équipe, plus il aura tendance à suivre ses matchs. Ainsi, la grande diversité des moyens de diffusion ne peut qu’influencer positivement la consommation du spectacle footballistique marocainMots-clés : Téléspectateur, Spectacle, Football, Expérience, Identification, Diffusion, Marketing
En golf, entre juin 2022 et juin 2023, deux ligues à présent réunies (fusion le 6 juin 2023), l’une ouverte (PGA Tour), l’autre fermée (LIV Golf), ont cohabité au niveau mondial. Cette contribution se propose d’analyser cette situation et les perspectives qui en résultent. La comparaison porte sur trois des fondements économiques de ces deux ligues. Tout d’abord, son origine historique : organisation et participants. Ensuite, ses aspects économiques et financiers : financement et rémunération des producteurs. Puis, finalement, les modèles économiques choisis et, donc, les conditions dans lesquelles la valeur est créée, transmise, puis « capturée » en retour dans les deux ligues. La dernière partie présente les termes de l’accord conduisant à la fusion et s’interroge sur les perspectives d’avenir pour le golf professionnel. Classification JEL :
Nowadays the world of entertainment is based upon a multitude of platforms and not only on television. The disruptive new technologies, such as streaming platforms, have changed the entire panorama. The straightforwardness of content, the streaming enthusiasm and the creative freedom, directly blooming from the creator, are perfectly embodied through new actors like Twitch and YouTube. At the same time, with the arrival of esports on the international stage, they have become the preferred format for livestream, optimized and indispensable to publishers. However, the compulsory use of Twitch is challenging the normal broadcasting rights process by the intervention of numerous intermediaries, and consequently the rights applied to Intellectual Property. Our article will focus on the identification of these actors, in order to understand the distribution of broadcasting rights and the example of three countries involved in these problematics.
LES MODELES ECONOMIQUES DES ASSOCIATIONS SPORTIVES : LE CAS DES CLUBS DE HANDBALL DU NORD DE LA FRANCE
The French Handball Federation has put at the heart of its strategic project the will to see its clubs diversify their financial resources and multiply the practice offers (health, leisure...) to remain attractive in a changing sport context. In order to accompany this process, this research focuses on the economic models of handball clubs in order to categorize them and identify development levers. Different statistical methods were applied to achieve this. A principal component analysis and a K-means classification allow us to propose a double taxonomy of the clubs: their economic models and their level of professionalization. These methods were applied to the clubs of the Comité Nord (59 clubs), which were contacted by sending a questionnaire. The reading grid created allows to characterize the current situation of the French handball clubs and to identify different opportunities and threats for each of the identified categories.
La fédération française de handball a mis au cœur de son projet stratégique la volonté de voir ses clubs diversifier leurs ressources financières et multiplier les offres de pratique (santé, loisir…) pour rester attractif dans un contexte sportif en mutation. Afin d’accompagner ce processus, cette recherche s’intéresse aux modèles économiques des clubs de handball dans l’objectif de les catégoriser et d’identifier des leviers de développement. Différentes méthodes statistiques ont été appliquées pour y parvenir. Une analyse en composantes principales (ACP) et une classification K-means permettent de proposer une double taxonomie des clubs : de leurs modèles économiques et de leur niveau de professionnalisation. Ces méthodes sont appliquées aux clubs du Comité Nord (59 clubs) qui ont été sollicités par l’envoi d’un questionnaire. La grille de lecture créée permet de caractériser la situation actuelle des clubs de handball français et d’identifier différentes opportunités et menaces pour chacune des catégories identifiées.
LES MODELES ECONOMIQUES DES ASSOCIATIONS SPORTIVES : LE CAS DES CLUBS DE HANDBALL DU NORD DE LA FRANCE
[FR] Cette thèse s’intéresse aux violences et incivilités commises par les sportifs professionnels. La problématique est d’évaluer l’effectivité de la régulation de ces atteintes à l’éthique sportive (AES) dans le sport professionnel. Dans ce cadre, l’analyse repose sur une méthode mixte appliquée au cas du football professionnel français de 2007 à 2017. L’approche qualitative a conduit à une redéfinition de l’éthique sportive appliquée au sport professionnel en s’appuyant sur la grille d’analyse de Mercier (2014). L’approche quantitative a quant à elle permis, d’une part, de mesurer l’occurrence des comportements violents et incivils commis par les joueurs à partir des sanctions émises par les instances et, d’autre part, d’évaluer l’effectivité des sanctions ainsi que le rôle des instances opérant dans ce système de régulation disciplinaire. Ainsi, nos résultats montrent une évolution très relative des comportements violents et incivils commis par les joueurs contrastant avec certains « bavardages sportifs » (Eco, 1985) argumentant dans le sens d’une augmentation de ces derniers. Néanmoins, ils permettent de mettre en exergue des profils de clubs, notamment par un lien observé entre violences et incivilités commises par leur joueur. De plus, nos résultats révèlent un décalage palpable entre les possibilités punitives des règlements à disposition des instances et leur application réelle, en particulier dans le cas des violences. Dans ce cadre, l’absence d’objectifs clairs des instances dans leur mission de régulation engendre une certaine opacité dans les lectures de sa politique en matière de contrôle et de sanctions disciplinaires au regard de comportements pourtant désignés comme des remises en cause de l’éthique sportive.
[EN] This thesis focuses on violence and incivilities committed by professional athletes. The issue is to evaluate the effectiveness of the regulation of these attacks on sporting ethics (ASEs) in professional sport. In this context, the analysis is based on a mixed method applied to the case of French professional football from 2007 to 2017. The qualitative approach is based on Mercier's (2014) analysis grid and led to a redefinition of sport ethics applied to professional sport. The quantitative approach has firstly allowed us to measure the occurrence of violent and uncivil behaviour committed by players on the basis of the sanctions issued by the authorities and, secondly, to evaluate the effectiveness of the sanctions as well as the role of the authorities operating in this disciplinary regulation system. Thus, our results show a very relative evolution of players’ violence and incivilities, contrasting with certain "sports chatter" (Eco, 1985) arguing in the direction of an increase of these behaviours. Nevertheless, our results allow us to highlight some clubs’ profiles, in particular through the link observed between violence and incivilities committed by their players. Moreover, our results reveal an apparent gap between the punitive possibilities of the rules available to the authorities and their actual application, particularly in the case of violence. In this context, the lack of clear objectives from the authorities in their regulatory mission leads to a certain opacity in the interpretation of their policy in terms of control and disciplinary sanctions whereas these behaviours are designated as challenges to sporting ethics.
Cette thèse évalue et explique l’impact économique des nouveaux stades sur l’écosystème d’affaires du football professionnel français. Entre 2008 et 2016, 13 nouvelles enceintes ont été créées ou ont été rénovées. L’objectif visé par ce programme est de permettre l’évolution des modèles de revenus des clubs, et en parallèle la baisse des subventions publiques qui leur sont versées. Ce modèle avait été observé en Allemagne à la suite d’un programme similaire réalisé entre 2001 et 2006. Dans un premier temps, à partir de ces ambitions, les indicateurs utilisés pour effectuer une analyse comparée France-Allemagne, montrent que les résultats économiques attendus sont éloignés des espérances. Dans le but d’identifier les liens de causalité entre les objectifs ex ante et les résultats ex post, une analyse des modalités de programmation et d’exploitation de la ressource stade est réalisée à l’aide de 7 monographies. Cette recherche inductive fait émerger des limites structurelles, financières et organisationnelles importantes, générées par les logiques d’acteurs de ces projets. Il apparaît en effet, par faute de leader, que les collectivités territoriales, les clubs et les sociétés privées du bâtiment n’ont pas su enclencher le processus de coévolution nécessaire à la bonne programmation de ces « outils de production ». Il est ainsi montré comment l’alchimie de la compétence joue un rôle central dans la création d’une nouvelle ressource. Outre le savoir et le savoir-faire, la volonté d’action, de partage, définis quant à eux par la notion de « savoir-être », éclairent les logiques initiales d’acteurs et expliquent l’impact final de la politique publique de rénovation des stades en France. Ainsi, grâce à ce cas spécifique, la recherche enrichit les travaux en management du sport portant sur la compréhension des performances économiques d’une organisation sportive, à travers l’analyse de ses actifs et son business model. Dans une logique de new public management, elle évalue la pertinence et l’efficience d’un programme de rénovation qui a mobilisé plus de 2 milliards d’euros de fonds publics. Enfin, dans une logique d’apprentissage et d’évolution ces travaux se concluent par des préconisations managériales.
UEFA’s Club Licensing and Financial Fair Play Regulations (FFP) have impacted European club football. After five distinct applications of the break-even requirement, which represents the cornerstone of these regulations, it is time for an assessment. How has the situation in European top-division football changed since the FFP regulation? The most recent financial data show that European club football is characterized by significant financial recovery and further polarization. How has the FFP regulation presumably affected this development? This article discusses plausible reasons why FFP has contributed to financial recovery but has not aggravated polarization. Understanding the drivers of polarization is essential before taking further regulatory steps.
The winner’s curse is a well-known phenomenon in the auction theory. The main aim of this article is to verify its existence in football broadcasting rights. The underlying objective is to assess whether some indices of this situation are verified and can cause a winner’s curse. The methodology is based on the application of Andreff (2014) ’s six indices and a seventh index (disappointment) to the domestic markets for broadcasting rights of the French and English football leagues. These two markets have seen an increase in the number of packages offered to broadcasters, with the possibility of several ‘winners’. The article shows that the winner of the major packages in the auction is not cursed. The curse is more likely to happen for the second mover. As such, the article suggests a practical recommendation for broadcasters interested in football rights: win the best package or keep away.
Purpose – The purpose of this paper is to examine competitive balance in European football leagues before and after the inception of Financial Fair Play (FFP) regulations by Union of European Football Associations in 2011, designed to bring about financial stability and improve competitive balance in the European game.
Design/methodology/approach – The research focuses on the top division football leagues in England (English Premier League), Germany (Bundesliga), France (Ligue 1), Italy (Serie A) and Spain (La Liga). The paper is organised into two distinct time periods: pre-FFP, comprising the six seasons between 2005/2006 and 2010/2011; and post-FFP, comprising the six seasons between 2011/2012 and 2016/2017. The paper uses
recognised measures of concentration and dominance to measure competitive balance.
Findings – The results show a statistically significant decline in competitive balance post-FFP for leagues in Spain, Germany and France but not for England and Italy. Furthermore, the results report significantly higher levels of concentration and dominance by a select number of clubs in Germany.
Originality/value – The paper is one of the first to analyse competitive balance in this way both pre- and post-FFP. Whilst the paper cannot demonstrate a causal link between FFP and competitive balance, there are strong indications that competitive balance has been adversely affected (for some leagues) since the regulations have been imposed. To that end, the paper argues that FFP has had “unintended consequences” in respect of competitive balance.
This paper aims to design a methodology to evaluate financial stability in the football industry. Considering Financial Fair Play Regulations (UEFA, 2012, 2015), it explores how they have worked. This paper adapts Multiple-Criteria Decision Analysis (MCDA) to the football industry. A number of ratios and their corresponding weights are defined. Four MCDAs are used. The results from these four MCDAs are then taken into account to finally classify the financial situation of the clubs. The study was carried out on top European Football clubs for the seasons ending in 2011, 2012 and 2013. The main change in the financial situation of analyzed clubs occurred in season 2011/12, the time when FFP rules were enforced. The results show that big European clubs are financially stable. Moreover, some progressive improvements in stability and sustainability have been encountered. The tool applied in this study may be used by stakeholders in this industry. Moreover, it shows that financial control imposed by UEFA is being beneficial what encourages keeping in this line of action. The paper provides a fast and efficient technique in decision-making to the stakeholders in the football industry. RESUMEN: Este artículo tiene como objetivo diseñar una metodología para evaluar la estabilidad financiera en la industria del fútbol. Teniendo en cuenta el Reglamento de Juego Limpio Financiero (UEFA, 2012, 2015), explora cómo éste ha funcionado. Se adapta el análisis de decisión de criterios múltiples (MCDA) a la industria del fútbol. Se definen una serie de relaciones con sus pesos correspondientes. Se usan cuatro MCDA. Los resultados de estos cuatro MCDA se tienen en cuenta para clasificar la situación financiera de los clubes. El estudio se llevó a cabo analizando, como casos, los principales clubes de fútbol europeos para las temporadas que finalizaron en 2011, 2012 y 2013. El principal cambio en la situación financiera de los clubes analizados se produjo en la temporada 2011/12, el momento en que se aplicaron las normas de FFP. Los resultados muestran que los grandes clubes europeos son financieramente estables. Además, se han encontrado algunas mejoras progresivas en la estabilidad y la sostenibilidad. La herramienta aplicada en este estudio puede ser utilizada por los stakeholders de esta industria. Además, muestra que el control financiero impuesto por la UEFA es beneficioso, lo que alienta a mantenerse en esta línea de acción. El artículo proporciona una técnica rápida y eficiente en la toma de decisiones para los interesados en la industria del fútbol PALABRAS CLAVE: Juego Limpio Financiero; Estabilidad Financiera; Fútbol; MCDA; UEFA Recibido/
When introducing UEFA’s Financial Fair Play (FFP) it was argued that as a beneficial side effect competition in European football leagues should become more equilibrated and perceived as being fairer. Based on a hand-collected dataset on league results, player market values as well as investor payments of more than 300 European football clubs, we scrutinize the impact of FFP on the competitive landscape in major European football leagues. By applying a fixed-effect panel regression difference-in-differences approach, we find results that are consistent with the view that FFP might have further amplified the competitive imbalance. This might be caused by the fact that FFP raises some barriers against the entrance of new investors. Moreover, we present evidence that FFP supports the former season’s winner in terms of budget shares in the upcoming season. Overall, our results support the view that FFP turns European football leagues less equilibrated and even tends to freeze current hierarchies.
Purpose: The problem of identifying the most important determinants of the market value of football players is quite well described in the literature. There are many works that try to identify these factors. Some of them are focused on variables to make a set complete and others are on models and methods. The aim of this article is to present the variables influencing the valuation and to build an econometric model valuing footballers playing on the forward position, taking into consideration the assumptions of the econometric modelling. Such an approach indicates managers as other sources for obtaining information. Methodology: Econometric models were used to verify the hypothesis formulated in this research. The database was created on the basis of variables presented on the website www.transfermarkt. de that presents the values of the most valuable football players in the world playing on the forward position. The Gretl program was used in the research. Findings: The literature review showed that there are many independent variables having an impact on the value of the player. There are also many different models used to valuate footballers’ performance rights. The results of estimation of models in the research indicated that such factors as Canadian classification points adjusted the market value of the team and dummy variables describing “goodwill” (only for the best players) had an impact on the market value of footballers’ performance rights. Limitations/implications: Information about different factors having an impact on football players’ market value could support the investment decision process of football managers. Originality/value: The results were part of a study concerning economics of sport, particularly processes of management of football clubs and valuation of intangible assets.
Manuel qui couvre tous les thèmes importants en économie du sport regroupés en 12 chapitres: . importance économique du sport dans la comptabilité nationale . le marché de la pratique sportive . les marchés mondiaux de la performance et des spectacles sportifs . les évènements sportifs mondiaux et les équipements sportifs . les marchés mondiaux dérivés du spectacle sportif . le marché mondial et l'industrie des articles de sport . l'économie des sports individuels et la théorie des jeux . la théorie économique des ligues de sports d'équipe professionnels . la régulation économique des ligues sportives professionnelles . le marché mondial du travail sportif . analyse économique des dérives du sport mondial (dopage, corruption, etc.) . la gouvernance du sport mondial et la crise économique
Face à la mondialisation économique du sport, l'auteur a choisi de croiser l'économie du sport avec l'économie internationale, une approche encore inédite aujourd'hui. Il analyse les déterminants économiques des performances sportives (olympiques) mondiales, la spécialisation des nations dans le commerce mondial de biens sportifs, l'investissement direct étranger des firmes multinationales dans l'industrie d'articles de sport, les transferts internationaux de joueurs et les dérives financières du sport mondial. La mondialisation donne lieu aussi à une économie comparative internationale, entre les modèles économiques des sports professionnels nord-américains et européens, et entre les différentes sources de financement du sport dans les pays de l'Union européenne.
One could think of this book as the sports-and-economics counterpart to Joy of Cooking, because it will satisfy the needs of those with a keen interest in such subjects as the demand for sport by spectators and the media... this encyclopedic volume is as close as anyone is likely to come in the foreseeable future to a solid, well-written reference work on the subject. Offering plenty of bibliographic references, it is an authoritative starting point for any serious discussion of a wide variety of topics at the intersection of economics and the sporting world. Highly recommended. All readers; all levels. © Wladimir Andreff, Stefan Szymanski 2006. All rights reserved.
Les organisations sportives doivent mettre en œuvre leur marketing au sein d’un système de parties prenantes (i.e. sponsors, médias, partenaires, membres, collaborateurs, spectateurs…). Dans ce contexte, l’ensemble des acteurs impliqués devraient porter une attention accrue aux principes du marketing relationnel.
Les auteurs proposent une méthode innovante et opérationnelle permettant de créer et développer des relations à long terme avec les parties prenantes composant le système sportif. Les outils proposés contribuent à créer un avantage concurrentiel sur leur marché en développant des partenariats stratégiques au niveau de leur réseau et en impliquant les acteurs au sein de l’organisation. Chaque étape est illustrée par un exemple présenté par un manager opérant dans une organisation sportive au niveau international. L’ensemble des aspects stratégiques et opérationnels concernant cette méthode sont mis en œuvre dans une étude de cas approfondie concernant la fédération britannique de judo.
Competitive balance and budget constraint in professional sports leagues
American modelling of competitive balance in professional team sports leagues is unsuited to analyse European football. It objects pro-competitive balance regulation as being non Walrasian when teams are profit maximising. Testing the model comes out with mitigated results. Such approach has recently been outdated by models with win maximising clubs under a budget constraint and a flexible supply of talent in a non cooperative game. This article ploughs into three research paths suggesting the introduction of a sport contention variable; advocating for a disequilibrium model where clubs would have a “soft” budget constraint rooted in their weak governance; and it empirically tests a vicious circle between
Tv
rights revenues and wages in French football.
Classification JEL : L83, L21, J42, J31, G30.
Résumé La fédération européenne de football a instauré en 2004 un système de régulation sectoriel dans les compétitions interclubs européennes. Notre objectif est de comprendre sa genèse et ses évolutions dans le cadre de la mise en place en 2010 du principe de fair-play financier. Plus généralement, il s’agit de comprendre l’évolution d’un système de régulation rendue nécessaire par l’adaptation des objectifs de régulation aux dysfonctionnements du marché.
Nature and modalities of the activity of professional football clubs are studied and interviews with a panel of experts are realized. An analysis of management control practices and tools of eight clubs representatives of the forty of football leagues 1 and 2 is presented. This allows to understand and to explain the structuring modes of the economic performance management systems in sport entertainment.
The demand for triathlon has increased considerably during recent years; however, up to now there is little research available on the economic aspects of this sport. Therefore, the purpose of this study is to investigate the sport-related expenditure of triathletes. Based on the concept of consumption capital, a theoretical framework is presented that explains sport-related expenditure. Quantitative data was collected using a nationwide online survey of active triathletes in Germany (n=786). Yearly sport-related expenditure amounts to €2,745 on average. Regression results show that consumption capital (years of participation, weekly time of practice, self-assessed level of performance, participation in triathlon competitions) and socio-demographic characteristics (age, income) are significant drivers of sport-related expenditure. The findings have implications for the management and marketing of triathlon and related products (e.g. tourism) because of the increasing number of participating triathletes who represent an economically interesting target group.
This paper analyzes the long-term development of competitive balance in a professional team sports league with win-maximizing clubs facing a strict break-even constraint as imposed by UEFA's new Financial Fair Play Regulations. A classical model of professional team sports leagues is employed to calculate seasonal competitive balance, which solely depends on the market size of clubs. In the multi-period version of the model, a market size function, which captures the empirical fact that a club's revenue potential is positively affected by its historic success, is introduced. The model shows that there is only one long-term steady-state equilibrium, in which big clubs totally dominate small clubs and competitive balance is maximally uneven. The intuition is that a club, which becomes more successful, is able to attract more and more spectators yielding higher revenue and leading to the club being able to afford more playing talent. This in turn leads to greater success, which in turn attracts even more spectators and so forth. Since small clubs are no longer allowed to overspend and thereby invest their way to a greater market size in the future, the model predicts a negative trend in competitive balance to be the result of the new UEFA Financial Fair Play Regulations.
Salary caps have been part of U.S. professional sports for a long time. Salary caps can be designed in different ways and the term is used here broadly to include all measures that limit how much money a team can spend on player salaries. With the exception of three rugby leagues, salary caps do not exist in European professional sports. This will change in 2012 when UEFA’s recently revealed Financial Fair Play rules (FFP-rules) become applicable to all of European football. The FFP-rules contain a number of quite technical requirements but its core is the ”break-even requirement” according to which professional football clubs will be denied a UEFA competition license if their expenses exceeds their incomes. Unlike most current salary caps, the FFP-rules do not stipulate a fixed maximum payroll that is the same for all teams. Nevertheless, the rules still limit how much money a team can spend on player salaries. The paper will examine whether the FFP-rules are compatible with European Union law. The paper argues that the FFP–rules raise antitrust law issues as well as free movement issues. Consequently, the compatibility of the rules with European Union law turns on whether they can be justified. This, in turn, depends on whether it can be shown that they are proper and necessary to achieve an overriding interest. The paper concludes that this is highly questionable.
This article contends that a French football exception is not on absent financial crisis but its hidden shape because of undisciplined club behavior and a lack of transparency and disclosure. French football is characterized by a lax financial management and a soft-budget constraint at the club level. The latter results from a weak governance structure in the league and clubs. Shareholders behave as non-profit-seeking investors or patrons. The arms race to enroll the most efficient players fuels wage inflation that is hardly balanced by newly emerging sources of finance. The more a club is able to attract broadcast revenues, the more likely it is to be in the red. Policy recommendations include strengthening the governance structure, restoring financial discipline, and defining compulsory thresholds for some clubs' financial ratios.
This article proposes to evaluate empirically the consequences of the rent-seeking behavior of football clubs on their costs. The empirical work entails estimating a football wage, result, and demand system with data on clubs competing in the first and second Spanish leagues during the 1996-2003 seasons. The estimation sheds light on wage distortions that differ from 45% to 52% throughout the period considered. This provides an interesting illustration of the financial difficulties faced recently by many European football clubs.
This paper examines the effects of salary caps on competitive balance in professional sports leagues in the United States. We find no evidence to suggest that salary caps improve competitive balance, as measured by the variation in wins between the best and worst teams in a league in a given year, in any of the major sports leagues. Further, depending on the measure of competitive balance, it appears that salary caps decreased competitive balance in the NBA, which has specific components that differ from those of the NHL and NFL. The results also suggest that revenue sharing arrangements promote competitive balance in a manner that is consistent with economic theory.
Based upon contingent claims methodology and standard techniques in statistical modeling and stochastic calculus, we develop a framework for determining the financial value of professional soccer players to their existing and potential new clubs. The model recognizes that a player's value is a product of a variety of factors, some of them more obvious (i.e. on-field performance, injuries, disciplinary record), and some of them less obvious (i.e. image rights or personal background). We provide numerical examples based upon historical statistical performance indicators that suggest the value of a soccer player is not the same for all potential clubs present in a market. In other words this is a special case where the law of one price for one asset does not function. Our modeling employs the vast database of soccer players' performance maintained by OPTA Sportsdata; the same database has been used by major clubs in the English Premiership such as Arsenal and Chelsea. From a statistical point of view, our model can be applied to identify the relative value of players with similar characteristics but different market valuations, to explore patterns of performance for individual star players and teams over a run of games, and to explore correlations or interactions between pairs of players or small groups of players on the team. Moreover, it offers a tool to value players from a financial point of view using their past performance; hence this model can be also used to inform contractual negotiations.
Regulation and institutional choice in sports economics. Different institutional options are compared between North American (closed league) and European (open league) professional sports. Significant (‘quasi-socialist’) regulation in American leagues contrasts with increasing deregulation in European professional sports. In Europe, skyrocketing TV broadcasting rights are concentrating financial resources on a few rich clubs. This undermines the competitive balance of domestic championships, and calls for more regulation.
Evidence shows that real-effort investments can affect bilateral bargaining outcomes. This paper investigates whether similar investments can inhibit equilibrium convergence of experimental markets. In one treatment, sellers’ relative effort affects the allocation of production costs, but a random productivity shock ensures that the allocation is not necessarily equitable. In another treatment, sellers’ effort increases the buyers’ valuation of a good. We find that effort investments have a short-lived impact on trading behavior when sellers’ effort benefits buyers, but no effect when effort determines cost allocation. Efficiency rates are high and do not differ across treatments.
This article examines the effectiveness of auctions as sale procedures of sports rights. Although recent history contains several examples of auctions that have generated substantial revenues to owners of sports rights, staging an auction is no guarantee of success. The amount that bidders are willing to pay is influenced by a number of factors. Television companies or networks do not control all of the factors that influence their income from sports broadcasting. As a result, risk-aversive companies may choose not to submit bids. Sellers should stage open-bid procedures (preferably English auction) in order to neutralize this effect. Open-bid procedures provide information that can encourage risk aversive companies to bid more aggressively. However, sellers who fear collusion among buyers should stage secret bid auctions. The production and transmission of TV programs is characterized by economies of scale advantages. High entrance costs reduce the number of companies that can afford to enter the market. On the other hand, those few that have the financial resources will strengthen their market power, at the cost of the sellers. This can reduce the level of competition and make it more difficult to uphold values on sports rights. Introducing minimum fees and royalty fees can reduce the problem, but not fully outbalance the negative effect from reduced competition. Thus, sellers of sports rights may have to accept a reversal effect on rights fees if the number of bidders is reduced.
Simon Rottenberg’s seminal 1956 article in the Journal of Political Economy, 1956, is generally accepted as the starting point for the development of the economics of sport. While he recognised that certain features of professional sports leagues were unusual he saw little reason to treat this industry any differently from a conventional industry. He discusses the importance of uncertainty of outcome, the monopsonistic nature of the labour market, the nature of the product and demand (attendances). He considers alternatives to the reserve clause, such as equal revenue sharing, maximum salary limits, equal market franchise distribution and roster limits. Each of these is rejected in favour of a free market solution which, on the basis of the invariance principle, he suggests will perform just as well as the reserve clause in allocating talent to where it is most productive. The ensuing literature has focused on all these issues, many of which have created considerable debate amongst sports economists. In particular the assumption of profit maximisation has been challenged and a divergence of views, reflected in the so-called North American and European models of sports leagues has emerged. Over the last 50 years sports leagues have expanded, TV markets have opened up and legal challenges to existing practices have multiplied. This paper seeks to evaluate Rottenberg’s contribution to a rapidly expanding field and to judge its relevance today.
Les théories « circuitistes » permettent de porter un regard original sur l’économie du sport. Pour cela, il faut montrer que l’objet d’étude choisi est structuré en pôles autour desquels des interrelations identifiables se nouent. Menée à bien pour le sport professionnel européen, cette démarche permet d’étudier la formation et la destruction des revenus des sportifs professionnels, la monétisation des spectacles sportifs télévisés et le régime économique des transferts. Partant, deux résultats principaux peuvent être formulés.
Le football européen en général et le football français en particulier font état de difficultés financières et de faillites récurrentes de clubs professionnels. Sur la seule période de 1975 à 2018, 81 clubs français de football engagés dans les championnats des quatre premières divisions ont connu une faillite. Le sujet de la faillite d’entreprises a été largement traité pour les secteurs courants de l’économie. De nombreuses recherches se sont attachées à construire des modèles de prédiction, puis progressivement d’autres travaux se sont concentrés sur le processus et les différentes trajectoires d’entrée dans la faillite.Les seuls travaux menés sur le football français ont appliqué le modèle de prédiction d’Altman (2000) sur les clubs de Ligue 1 et de Ligue 2 et ont cherché à identifier les facteurs de la défaillance. Un accès privilégié aux données financières et aux parties prenantes du football français nous a permis de construire un nouveau modèle de prédiction de faillite adapté aux spécificités du football que nous avons ensuite complété par uneanalyse qualitative proposant une hiérarchisation des facteurs explicatifs et leur enchaînement au sein d’un processus dynamique. Notre thèse conclue à l’impossibilité de généraliser un modèle de prédiction des faillites à l’ensemble des clubs des quatre premières divisions françaises. Néanmoins, les améliorations apportées par notre propre modèle permettent de meilleurs taux de classement entre les clubs défaillants et les clubs sains des trois premières divisions. Nous montrons également qu’au-delà d’un score ponctuel obtenu dans le modèle, son évolution dans le temps est un signal important pour identifier et anticiper la dégradation de la situation financière de chaque club. Les clubs ne passent pas d’un état de bonne santé à leur faillite de manière soudaine. Des entretiens menés avec des dirigeants, des actionnaires, des directeurs financiers et des membres de la Direction Nationale du Contrôle de Gestion nous ont permis de modéliser la dynamique globale d’entrée dans la faillite des clubs. Sur ces bases, nous proposons une nouvelle approche de la régulation financière pour mieux prévenir la faillite des clubs de football.
From researchers’ point of view, the European professional football needs regulation because it is in financial crisis. That means it requires more regulatory measures to control clubs, as in the North American sports. However, the concept of regulation is more than the sole regulation in the French Régulation theory. In this way, this article identifies a regulation process which highlights the football reproductive capacity over time and in its current form. Thanks to institutional arrangements at the supranational and national levels, the clubs have the opportunity to accumulate deficits and debts. They are regularities. In view of the specificity of football meso-economics dynamics, the paper proposes a new reading of the financial crisis of professional football in Europe.
Pour apprécier la valeur des compétitions sportives, les économistes du sport utilisent généralement les concepts d’équilibre compétitif et d’intensité compétitive. Après avoir montré les limites de ces deux concepts, l’objectif de ce travail est de proposer une nouvelle piste de réflexion pour estimer la valeur des compétitions sportives. La démarche envisagée conduit à calculer la valeur anticipée d’une compétition sportive en ajoutant V 1 , la part de la valeur déterminée par la nature des quanta d’action qui contribuent à la qualité de la compétition, et V 2 , la part de la valeur qui dépend des conditions de réalisation de la production. En guise d’illustration, quatre exemples de calcul sont présentés dans notre dernière partie.
This article examines insolvency (payment failure) in the top three divisions of French soccer. Between 1970 and 2014, we observed 79 cases of insolvency arising from participation in the top two or three (since 1993) divisions. We find that demand (attendance) shocks can account for insolvency to a significant degree. We also find that insolvency can be explained by club status and ownership structure, with professional status and the association structure being more likely to lead to insolvency. We also examine the postinsolvency performance of soccer clubs and find that the adverse consequences of insolvency are long lasting.
Kornai's soft budget constraint (SBC) approach provides a useful framework, which is highly relevant for understanding the economics of European professional sports leagues. However, it has not hitherto been used in a comparative analysis of the European and North American sports leagues. This chapter offers a novel perspective on professional sports leagues that transcends the traditional profit versus win (utility) maximizing distinction by applying the SBC approach. Europe?s win (utility) maximizing teams usually face softness by surviving resounding and/or frequent losses, whereas the budget constraints for North American franchises appear 'hard'. But are the American pro franchises in fact facing hard budget constraints and the survival characteristics of hardness? This chapter gives a brief interpretation of the European context by using the framework of the SBC approach, while further seeking to adjust and apply it to the American context. It points out that even though the American pro leagues are profitable compared to the European ones, many of the European characteristics are in fact at play in the US, revealing an existence of softness in both league types. In order to better understand the similarities as well as the well-known differences across these two traditionally opposed contexts, a new matrix of team sports economics based on the SBC ideas is developed, supplementing existing research and giving new insights into the peculiar economics of professional team sports.
The organisers of most professional sports leagues now employ one or more forms of policy
intervention such as revenue sharing and salary capping schemes. The focus of the sports economic
literature was initially
directed towards
the theoretical effects o
f these policies on competitive
balance, wage rates and owner profits in the context of Major US sports leagues. That work has
since been broadened in the literature to include other types of policy intervention and other model
assumptions such as ‘win ma
ximising’ owners and ‘open’ labour markets that characterise other
professional leagues such as for association football.
This paper
consolidates the analytical treatment
in the sports economics literature
of both product
market and labour market policy i
nterventions by league sports organisers to form a standardised
set of techniques presented in a generally accessible format. This is intended to provide the reader
with the method and approach for similar analysis of other combinations of assumptions and
policy
specification as appropriate to particular professional sports leagues.
More recent policy intervention has included the regulation of financial performance of professional
(association) football clubs. This paper
adds to the literature by
also pr
ovid
ing
a framework for
analysing the effect of this policy intervention on
professional sports clubs.
In 2010 UEFA, the governing body of European football, announced a set of financial restraints, which clubs must observe when seeking to enter its competitions, notably the UEFA Champions League. We analyse the financial and sporting impact of these ‘Financial Fair Play’ (FFP) regulations in four major European football leagues. We first discuss the details of FFP and frame these regulations in the institutional set-up of the European football industry. We then show how the break-even constraint embedded in FFP could substantially reduce average payrolls and wage-to-turnover ratios, while strengthening the position of the traditional top teams. Since the benefits of the break-even rule to consumers remain unclear, we argue that these rent-shifting regulations might fall foul of European competition law.
— Thomas Peeters and Stefan Szymanski
In most of the world's professional sport leagues, the worst teams in better leagues are demoted while the best teams in weaker leagues are promoted. This article examines the economics of promotion and relegation, using data from English football (soccer). The crucial findings are as follows: players earn higher wages under promotion and relegation, promotion and relegation has a net positive effect on attendance, and the effect of promotion and relegation on competitive balance is ambiguous. The unbalancing effect arises because the system places some teams in leagues in which they have no realistic chance to afford a winning team, thereby causing teams to spend less on players during their (brief) stay in a higher league than they spent while trying to be promoted from as lesser league. The article concludes with an analysis of how promotion and relegation might be implemented in North America.
In response to the severe financial plight of many clubs that regularly take part in European competitions, UEFA developed the concept of Financial Fair Play as an extension of its licensing regulations. The aim of the concept is to curtail financial foul play in European football (nonpayment of liabilities owing to rival clubs or employees) and financial doping (excessive funding provided to cover losses arising from expenses for playing talent not balanced by revenues). The paper addresses the question if the Financial Fair Play is an adequate concept to ensure the long-term viability and sustainability of European club football as intended by UEFA. To answer this question, we illustrate the empirical background and search for a theoretical justification within the field of sport economics. Based on structuring UEFA’s objectives, we analyze and evaluate the major amendments of the Financial Fair Play Regulations.
Discussions of competitive imbalance use Major League Baseball as a focal point, and proposed remedies center on redistributions of revenues from well-heeled owners to financially strapped franchises. However, there are also many additional aspects in sports that do not involve allocations of economic resources directly but nevertheless affect outcomes and balance among competitors. All leagues and associations have to confront the fundamental issue of relative strengths between adversaries. To create some semblance of balance and ensure the integrity of play, they place constraints on the competitive process and respond to technological changes that threaten to disrupt the current environment, including the use of performance-enhancing inputs. Although we extol the virtues of natural athletes and level playing fields with regard to skill development, ensuring evenly matched contests, and comparing performances over time, there are arguably no consistent, objective standards we can employ. Imbalance is an inherent, intractable part of all competitions.
This article takes a closer look at salary and revenue figures for the four major professional sports in the United States. It shows that the reporting typically offered in the popular media and often picked up in academic work can be rather misleading. The article first considers the conundrums in defining player compensation and then those connected to revenue. On the basis of adjusted data, the article proceeds to look at salary shares in revenue across the four leagues and considers the irony that the salary share in Major League Baseball (MLB) appears to be lower than the three leagues with a salary cap, the National Football League (NFL), National Basketball Association (NBA), and National Hockey League (NHL). It concludes with some analysis of the impact of salary caps and other mechanisms on controlling player costs.
[fre] Dans nos sociétés, le montant des salaires de certains sportifs professionnels est de plus en plus élevé. Pour expliquer cette évolution deux arguments sont généralement avancés : celui de la brièveté de la carrière et celui des « compétences rares ». A l'examen, on s'aperçoit que ces deux justifications ne sont guères satisfai- santes. Dans cet article, nous avons donc été amenés à nous demander si la rémunération des sportifs professionnels par équipe n'est pas une application privilégiée de la théorie du salaire d'efficience. Dans sa version sociologique, cette théorie ne fournit pas un cadre d'analyse satisfaisant. Dans sa version économique, elle permet en revanche d'analyser le comportement des présidents de club. Par ailleurs, deux points méritent d'être notés. Appliquée au champ sportif, la théorie du salaire d'efficience est cohérente avec les analyses de la segmentation du marché du travail. Indirectement, la généralisation de « salaires d'appel » apparaît comme l'une des causes du chômage de certains sportifs professionnels. [eng] In our societies, the amount of the wages of some professional sportsmen is higher and higher. In order to explain this evolution two argue-ments are generally put forward : the briefness of the profession and the « scarcity of competence ». After examination, it's visible that these two justifications are not really satisfactory. So, in this article we wonder if the remuneration of professional team sportsmen is not a privileged application of the efficiency wage model. In the sociological version, this theory doesn't supply a satisfactory analytical frame- work. In its economical version, it permits to analyse the club's chairmen beha- viour. Moreover, two others points must be noted. Applied to sport, the efficiency wage model fits in with the segmented labour market analysis. Indirectly, the generalization of « attractive salaries » seems one of the causes of professional sportsmen unemployment.