Football Economics and Policy

`Professor Szymanski is the one of the leading academic authorities internationally on sports economics particularly the economics of (association) football. This volume brings together many of his most important contributions to the economics of football. He combines first-rate theoretical insight with solid empirical analysis applied to all aspects of the football industry including the operation of the transfer system and the players' labour market, the collective selling of TV rights, the financial performance of teams, competitive balance and league restructuring and the economic impact of mega sporting events such as the FIFA World Cup. Whether or not you agree with Professor Szymanski's conclusions, his analysis frames the key issues and highlights the crucial assumptions that must be considered. Read, understand, critically evaluate and, most of all, enjoy.'

---Bill Gerrard, Leeds University Business School, UK

In the last twenty years professional sport has grown into a business of some substance and has attracted increasing attention from investors, lawyers, governments and regulators. Commercial and cultural disputes have required an increasingly sophisticated economic analysis, and over this period Stefan Szymanski has been one of the leading contributors, shaping the research agenda and public policy analysis.

This book concerns the application of economic analysis to football (soccer), the world's most popular sport. It provides a framework for understanding how the football business works and addresses major policy concerns such as the frequent financial crises, the financing of major events such as the World Cup, the consequences of public intervention in labour markets (Bosman) and broadcast markets (collective selling) and reviews the role of public policy.

Given the important role that sports play in the life of modern societies, this book is popular reading for all interested in economics and sports studies, and will provide an invaluable guide to students and practitioners alike.

Stefan Szymanski is Professor of Economics at Cass Business School, City University of London, where he runs the Sports Business Network.