Club members in German professional football and their attitude towards the ‘50+1 Rule’ – A stakeholder-oriented analysis

Bauers, Sebastian Björn; Lammert, Joachim; Faix, Axel; Hovemann, Gregor

doi:10.1080/14660970.2019.1597717

Cited by 14 publications

(15 citation statements)

References 30 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…The power of members and fans, the tradition of fan involvement, and the attitude towards commercialization can also be expected to be relevant to the club profile. Recent surveys (Bauers and Hovemann, 2019b;Bauers et al, 2020) have revealed the major relevance of such issues in Germany. However, one might expect this to differ from club to club and possibly from country to country.…”

Section: Managerial Implicationsmentioning

confidence: 99%

Football stocks: a new asset class attractive to institutional investors? Empirical results and impulses for researching investor motivations beyond return

Prigge

Tegtmeier

2020

SBM

View full text Add to dashboard Cite

PurposeThe aims of the research are twofold: (1) exploring whether football club stocks can be considered an asset class of their own; (2) investigating whether football stocks enable well-diversified investors to achieve more efficient risk-return combinations.Design/methodology/approachUsing efficient frontier optimization, a base portfolio, with standard stocks and bonds, and a corresponding enhanced portfolio, which includes football stocks in the investment opportunity set, are defined. This procedure is applied to four portfolio composition rules. Pairwise comparisons of portfolio Sharpe ratios include a test for statistical significance.FindingsThe results indicate a low correlation of football stocks and standard stocks; thus, football stocks could be considered an asset class of their own. Nevertheless, the addition of football stocks to a well-diversified portfolio does not improve its risk-return efficiency because the weak performance of football stocks eliminates their advantage of low correlation.Research limitations/implicationsThis study contributes to the evidence that investments in football are different from ‘ordinary’ investments and need further research, particularly into market participants and their investment motives.Practical implicationsFootball stocks are not attractive to pure financial investors. Thus, football clubs need to know more about which side benefits are appreciated by which kind of investor and how much it costs to produce these side benefits.Originality/valueTo the best of authors’ knowledge, this is the first study to analyse the risk-return efficiency of football stocks from the perspective of a pure financial investor, i.e. an investor in football stocks who does not earn side benefits, such as strategic investors or fan investors.

show abstract

Section: Managerial Implicationsmentioning

confidence: 99%

Football stocks: a new asset class attractive to institutional investors? Empirical results and impulses for researching investor motivations beyond return

Prigge

Tegtmeier

2020

SBM

View full text Add to dashboard Cite

show abstract

“…Sponsorship places on the team clothes increasing in worth Hognestad (2015), Delia (2017) Transforming ownership structures of elite sport teams and increase in private owners Private investors taking over to either make profits (e.g. franchise teams) or to make the team a marketing platform Bauers et al (2019), Dubal (2010) Global sport events, such as The Olympics and the FIFA World Cup, becoming Mega-Sport-Events (MSEs) Formalization and planning of major sport events to attract millions. Major sport events having a major impact on local societies through increased tourism, new infrastructure etc.…”

Section: Increased Influence Of Sponsors On Teams and Competitionsmentioning

confidence: 99%

“…However, some contexts are quite different. Bauers et al (2019) studied German football fans' attitudes towards selling more than 50% of clubs to private investors. The study indicates that most fans do not want this privatization development for two reasons: to prevent commercial interests in more than one club and for reasons of traditional and social interest.…”

Section: Analytical Themesmentioning

confidence: 99%

How are fans affected by the commercialization of elite sports? A review of the literature and a research agenda

Winell

Armbrecht

Lundberg

et al. 2022

SBM

View full text Add to dashboard Cite

PurposeThe purpose of this paper is to develop a holistic understanding of extant studies addressing the impact of commercialization on fans of elite sports.Design/methodology/approachIn doing this, the authors performed a structured review of 42 academic articles published between 1992 and 2020 that all focus on how fans respond and are affected by the commercialization of elite sports.FindingsThe structured review shows that the impacts of commercialization on fans relate to four different themes. These are (1) fan identity, (2) fan attitudes, (3) fan emotions and (4) fan behaviours. However, the analysis also shows that research within each category is largely scattered, and more research within each category is needed.Originality/valueThe paper highlights the complex and dynamic nature of commercialization. It presents a research agenda for future research and emphasizes a need to integrate the interests of several stakeholders when managing the impacts of elite sport commercialization.

show abstract

“…While the integrity of the sport normatively represents another legitimate objective, it is empirically less clear whether the internal market regulators have the same understanding of it as the consumers and fans. Actually, it is not even clear whether and how far consumers are valuing the integrity of the sport (Bauers et al, 2020). In connection with the preceding section, it may be understood to keep owners and generally influential individuals out of the sport that follow dubious motives.…”

Section: Loss Of Integrity Of the Sportmentioning

confidence: 99%

“…However, even other league participants favor a deregulation on financial investments, as "the market would profit from liberalization", as an official of FC Bayern München stated. 3 From a sports economics perspective, the core of the discussion is that, without this regulation, a plethora of market failures would occur in German football leagues (Vöpel, 2009;Suliak, 2019;Bauers et al, 2020). In this paper, we critically review and discuss the occurrence of these market failures.…”

Section: Introductionmentioning

confidence: 99%

Promoting or Restricting Competition? – The 50plus1-Rule in German Football

Budzinski

Kunz-Kaltenhäuser

2020

SSRN Journal

View full text Add to dashboard Cite

The 50plus1-rule in German football is a controversially discussed institution that regulates investment behavior of professional football teams. This paper discusses from a sports economics perspective the suspected market failures that the 50plus1-rule is expected to prevent. To examine the effects of the regulation empirically, we gathered panel data on 47 teams in the German Major League Football ("Erste Bundesliga") from the seasons 1989/90 until 2018/2019. Applying various approaches to measure financial and competitive imbalance in the league, we derive a growing trend of imbalance since the introduction of the 50plus1-rule. We employ a Difference-in-Differences approach to examine investment behavior in budgets and sporting success between afflicted competitors and those exempted from the rule. Our results do not suggest any equalizing properties of the regulation. We find anticompetitive effects and distorting properties of the regulation.

show abstract

Club members in German professional football and their attitude towards the ‘50+1 Rule’ – A stakeholder-oriented analysis

Cited by 14 publications

References 30 publications

Football stocks: a new asset class attractive to institutional investors? Empirical results and impulses for researching investor motivations beyond return

Football stocks: a new asset class attractive to institutional investors? Empirical results and impulses for researching investor motivations beyond return

How are fans affected by the commercialization of elite sports? A review of the literature and a research agenda

Promoting or Restricting Competition? – The 50plus1-Rule in German Football

Contact Info

Product

Resources

About