This book presents the first detailed economic analysis of professional football at club level, using a combination of economic reasoning and statistical and econometric analysis. Most of the original empirical research reported in the book is based on English club football. A wide range of international comparisons helps to emphasise the broader relevance as wall as the unique characteristics of the English experience. Specific topics include: the links between football clubs' financial strength and competitve and uncertainty of outcome; the determinants of professional footballers' compensation; measuring the football manager's contribution to team performance; the determinants of managerial change and its effects on team performance; patterns of spectator demand for attendance; modelling and predicting match results; fixed-odds betting on football match results and the market in football clubs' company shares.
The book concludes with an extended discussion of the major economic policy issues currently facing football's legislators and administrators worldwide.
1. Introduction
2. Professional football; historical development and economic structure
3. Competitive balance and uncertainty of outcome
4. The labour and transfer markets
5. The contribution of the football manager
6. Mangerial change and team performance
7. The demand for football attendance
8. Information transmission and efficiency: share prices and fixed-odds betting
9. Professional football: current issue and future prospects