If you love football (soccer) and have read one of the books of the “Freakonomics” saga or any book from Malcolm Gladwell, then “Soccernomics“, by Simon Kuper and Stefan Szymanski (430 pgs.), will be a great read for you.
The book is written in the same style as the other books mentioned above: using economics’ techniques, plenty of data, statistics, citing several papers, studies, etc., in order to bring up uncovered issues about football or refocus the attention about other ones. Some examples:
- Mastering the transfer market. Departing from the example of Billy Beane in baseball, described in “Moneyball“, by Michael Lewis (of which a movie was also made starring Brad Pitt), the authors show how pouring money in transfer markets doesn’t bring titles. The key issue is to have a balanced net investment (sales/acquisitions). In soccer the main example would be Olympique Lyon which will “sell any player if a club offer more than he is worth”, for which each player is previously assigned a price (much like value investing).
- The more money is paid to players the better (in salaries). Instead of buying new expensive players it seems to make more sense to pay well and ensure the adaptation of the stars already playing for the team.
- The market for managers is not yet very open (e.g. no black coaches in main European teams), thus many of them do not make a real difference. There was even an English team Ebbsfleet United who dispensed the coach and allowed subscribed fans to vote the player selection for each match.
- The book, written at the beginning of 2012 forecasted that soon teams from big European capitals would win the Champions’ League, being those capitals: London, Paris, Istanbul and Moscow. Few months later Chelsea won its first one, let’s see the others.
- The main factors for the success of football national teams seem to be the experience (international games played by the national team), wealth and population.
- The authors give much weight to Western Europe dominance of football due to the interconnectedness of continental Europe. Explaining the rise of Spain in the ’90s and ’00s due to its growth in population, improved economy since joining the EU, more experience and exchanges of styles with coaches of other countries.
- The authors claim that future national football will be dominated by countries such as Iraq, USA, Japan or China.
As you can see there are many different topics, all with some data to support them (even if sometimes you doubt about the consistency of their claims, e.g. their statements on industrial cities as dominating football, dictatorships, etc.). I marked many pages with some anecdotes or papers that I would like to read.
One final anecdote: tips given to clubs and teams in KO competitions in case they face a penalty shoot-out. In the Champions’ League final of 2008, Chelsea and Manchester United reached the penalties. An economist had given Chelsea a study of Manchester goal keeper and penalty-shooters. Once you read the book and the tips the economist provided (“Van der Sar tends to dive to the kicker’s natural side”, “most of the penalties that Van der Sar stops are mid-height, thus is better to shoot low or high”, “if Cristiano Ronaldo stops half-way in the run-up to the ball chances are 85% that he shoots to his natural side”…), it is quite interesting to actually see that penalty shoot-out and how the different players acted.
[Pay special attention at Van der Sar’s reaction at 09’40”, when it seems he noticed about Chelsea having been tipped]