• 明宇

Money & Football - Studying The Impact Of Market Inflation On Football In England And China

Whilst studying in Beijing in 2018, I wrote a thesis on what kind of effect the vast increase of wealth in modern football was having on the game in England and China. The English Premier League tops the global table for the amount of revenue generated by any football league, while new money in Chinese football has led to high-profile transfers, big scandals and obscene wage packets. Today, there is an inflated price tag for everything related to the sport including player transfer fees, wages, broadcasting contracts, advertisement, sponsorship and many more.


To discover what effect this has had on the game, I researched the reasons behind the inflation and also researched the effect it has on some of the main parties concerned in order to fully gauge whether this explosion of finance within the game is a good or bad thing. The thesis concluded that for a minority of affluent groups, the inflated market is not a problem and actually has many benefits. However, for the less affluent majority, the negatives outweigh the positives.


The thesis was originally written in Chinese but the translated version can be found below.




绪论-概述行业情况,介绍论文的每个部分


足球市场现状

1.1 足球运动员市场的规则

1.2 关于财政公平竞争的规定

1.3 经纪人费用

1.4 习近平的足球政策


中英足球市场通胀产生的原因

2.1 电视直播的交易

2.1.1 电视台给英超的费用 (图表1)

2.1.2 观看英超比赛的需求日益提高

2.2 广告的投放

2.3 赞助商的合同


金钱对中英现代足球俱乐部的整体影响

3.1 所有者永不满足,一直想成为最好的

3.1.1 经理和球员经常更换,不稳定

3.1.2 球员经常更换

3.2 买球员的时候,在足球队方面有什么财政压力 卡洛斯特维斯

3.3 经济压力对比较小的足球队的影响


-金钱对中英现代足球运动员的影响

4.1 在足球市场里球员的价格和工资

4.1.1 对他的表现与行为有巨大的影响

4.1.2 球员收入给他们巨星的名分-保罗伯格吧/卡洛斯特维斯

4.2 对国家足球队有什么影响 英国与中国

4.3与以前球员的水平相比的变化


金钱对中英现代足球迷的影响

5.1 在足球行业里,球迷的重要性的变化

5.2 比赛票价格过分昂贵

5.2.1 跟以前的情况不一样,足球原本是一个工薪阶层的运动

5.2.2 大量企业赠票使普通足球迷买不到票 导致气氛低迷


结论

参考文献


绪论

从北京的胡同到伦敦温布利体育场,在世界上没有比足球更有名的运动了。不过,这种热烈的流行导致该运动成为全球盈利性的行业,令所有者,经纪人,运动员与很多其他人发财。看待足球市场情况的时候,球员转会费是一个很有用的方式。今天不但转会费空前高企,而且在不久的将来很可能会变得更大。中国超级联赛是这种增长的一个典型例子,因为在过去的十年里,出现了有史以来最高的一些转会费与球员的工资。这些转会费与工资通常提供给欧洲球员,为了在世界里提升中国足球。现代高水平的球员工资是特别高,英格兰足球超级联赛(英超)的球员平均工资比英国护士的高六十三倍,去掉比总理高十倍[1]。有的人认为,这种对金钱的痴迷对足球基层价值已经有负面的影响了,并且即便有的人觉得利大于弊,比如说足球水平与足球比赛的素质提高了,许多人也认为金钱对中英足球行业弊大于利。本文会研究不同的方面与探索足球规则来回答利大于弊或者弊大于利。

为了回答这个问题,本论文分为五个具体的部分,然后最后有一个结论。第一部分会介绍足球市场的现况。为了理解其他的部分,有清楚的对于现代足球市场的认识是很重要的。第二部分会讨论对过去二十年中英足球市场通胀产生的原因。后面三个部分会分析金钱对俱乐部,球员与球迷分别有什么影响。


综述现代世界足球市场的情况


1.1

本部分首先概述俱乐部在每年的转会期间买卖球员的时候必须遵守的规则。在欧洲,俱乐部足球赛季在五月大部分主要的联赛(英格兰,德国,法国,意大利与西班牙)结束了,然后在八月新的赛季开始。在转会期间,俱乐部可以通过买卖球员来提升球队。 在一月还有一个转会期间,俱乐部也可以做生意,但是许多大转会都是在夏天的期间发生。一个球员转到一家新俱乐部的时候,他的老俱乐部的合同终止了。新的俱乐部有两个选择:第一个是跟老的俱乐部举行谈判,第二个就是在球员合同中的买断条款支付,然后跟球员直接举行谈判。买断条款基本上为了让球员老的合同终止支付一笔比较大的费用,对于其他有购买意愿买的俱乐部来说,这往往起着阻碍作用。一个球员通常会因为几个原因离开俱乐部,比如说另一家俱乐部可能会对他印象深刻,或者他现有的俱乐部可能因为不满意他的水平所以想卖。在现代足球中,虽然没有法律依据,但是通常是相关球员作出最后的选择,该球员还可以向自己的经纪人表达他们的不满,然后球员把转会要求提交给俱乐部。俱乐部也可以把球员租借给另一家俱乐部。


1.2

在2010年,欧洲足球协会联盟(UEFA)制定了一套规则,目的是限制俱乐部的支出,该规则称为金融公平竞争。这些规则规定,俱乐部只能在三年内花费超过五百万欧元,而不遵守的俱乐部可能受到惩罚[2]。中国足球也受到了一些金融法律的影响,这些法律已经对中国足球市场造成了很大的影响,使得涉及高额费用的转会越来越困难。这些规则规定,俱乐部需要支付新的“100%税”,这意味着如果俱乐部每年都在亏损,对于每引进一位海外球员,俱乐部必须将同样的费用投入青年队[3]。这实际上意味着俱乐部计划为海外球员支付的费用加倍了,因为中国足协希望看到更多中国超级联赛的本土人才。


1.3

球员从一个俱乐部转会到另一支俱乐部的一个重要因素是球员的经纪人。这个人在两个俱乐部中间协调球员的转会费,主要的责任包括跟两个俱乐部进行谈判,这使得他们在交易中不可代替的。足球市场目前的通胀已经导致巨大费用被支付给“超级经纪人”,他们代表最有名的球员,而且费用通常都是未公开的。比如,2016年因为保罗百格巴转会到曼联而向美农拉伊奥拉支付了4100万英镑,这是由于泄露的合同公开了[4]。虽然国际足联主席声称在目前转会期间的经纪人行为是"不可容忍的"[5],但这些费用还是现代足球市场内通胀的重要因素。


1.4

习近平对中国足球的政策,促使巨额资金投入到中国足球市场。首先,他为国家队列出了三个目标:能参加足球世界杯,能举办足球世界杯然后赢得世界杯。英国“金融时报”的一篇文章称,为了实现这些目标,习近平承诺在2020年以前有20,000个训练中心和70000个足球球场投入使用,然后为了将中国足球的形象国际化,他把商人派到欧洲,希望带回有名的海外球员[6]。文章也说,在2016年夏季转会期间,中国俱乐部在海外球员上花费了超过2.8亿美元。中国国家队的缺陷和这样的在海外球员上花费肯定有关系[7],最近100%的税法证实了习近平的政策对中国足球有负面的影响。

足球市场通胀的原因概述


2.1.1

今天的足球市场从来没有经历过这样的通胀水平,而且情况越来越严重。英超每个赛季的转会费用从2006/07年的2.5亿英镑左右增加到2016/17年度的超过10亿英镑[8]。最大的原因是联赛与其各自国家的广播公司之间的电视广播交易。比如在英格兰,英超与天空公司和BT体育有一个巨大交易,2016-2019赛季英超的价值达到了53.36亿英镑(见下面的图表)[9]。在中国,北京的中国体育传媒公司与中国超级联赛于2015年达成了价值11亿美元,以期5年内广播比赛的权利[10]。传媒公司把这些费用给联赛,然后从联赛到联赛的俱乐部渗透下去。这些交易给俱乐部在转会期间使用更多钱以买新球员。这对寻求购买球员的俱乐部产生影响,因为他们知道俱乐部已经从联赛收到了很多钱,允许他们提高价格。


图表1 - 英超与电视广播公司交易价值


2.1.2

天空公司和中国体育有限公司支付这些巨额费用购买比赛播放的权利是因为他们知道收视率总是会很高。广播公司为这些巨额交易买单的途径之一是通过支付天空公司互联网和电视的客户[11]。个人用户不是唯一的付费来源,在英格兰,每家酒吧每年都要支付高达2万英镑的费用来播放英超比赛。一些酒吧因此被迫停止了播放比赛,但就广播公司而言,这可能是一件好事,因为它迫使人们在自己的家中付费收看天空电视,而不是免费在酒吧观看比赛。从粉丝的角度来看,这种对高收入的一味追求是金钱对现代比赛的明显负面影响,使得观看比赛变得更加困难和昂贵。


2.2

英超联赛还是获得了很高的收视率。很多公司利用收视率在广播公司电视节目的时候进放广告。英超中一些比赛可以超过100万的收视率。公司希望有机会在节目的时候向广大用户播放他们的产品,英超期间的一则广告费用约为35,000英镑[12]


2.3

广告已经成为现代足球的一个重要部分。英格兰的每个体育场都会在球场旁边设置广告牌,为俱乐部带来收入。另一种有利可图的广告形式是通过俱乐部赞助商,特别是足球衫赞助商。英超俱乐部经常跟改换赞助商换,为了寻求更高的经济利益。而且中国俱乐部也开始利用该金融机会,广州恒大在2014年与中日合资公司东风日产达成1亿日元的交易[13]。另外,中国以前的首富王健林(万达集团的老板)最近已经签署了赞助未来四届国际足联世界杯的协议[14]。像习近平一样,王建林对足球有很高的热情,虽然没有公布合同价值的数字,但是一定会对中国超级联赛和中国足球基层球员产生影响。

金钱对中英现代足球俱乐部的整体影响


3.1.1

第三部分关于当前市场通胀对整体足球俱乐部的影响。它也主要关于比较大的俱乐部怎么如何造成通胀的延续的。正如本文前面已经解释的,金钱是现代所有大俱乐部的成功动因。英格兰最大的俱乐部的所有者,比如说曼联和曼城,希望他们的俱乐部能达到成功,因为足球成功会带来金融成功。许多大俱乐部所有者已经是百万富翁,有时甚至是亿万富翁,他们已经发财了,所以他们买了一家俱乐部作为金融投资。 2016/17英超赢家彻西收到了1.5亿英镑,3800万英镑来自首位的排名,其他的来自直播和广告[15]。即便一家俱乐部排名第16,避免英超的降级被认为是一些小俱乐部的巨大成功,这不但是因为他们收到了金钱奖励,而且还通过广告和直播收到了数百万英镑下个赛季。这对于俱乐部所有者来说是一种金融动因,为了达到该目的,所有者经常在糟糕的表现会换经理,或者在转会期间为新球员花费大量资金,从而在俱乐部里面造成一个不稳定的环境。这种持续的变化有的时候会对球队的表现产生负面影响,也可能是令球迷很生气,他们有时只想看到稳定的环境,而且让球队经理有机会。有的时候,如果一家俱乐部有降级的威胁,所有者会迅速做出一个决定,为了留在英超,在一个赛季进行过半,只余少数比赛时会换经理。这种方式有成功的时候,所有者好像天才,但是当失败时,他的决定看起来很莽撞,而且没有意义。


3.1.2

球员在球队中的稳定性不断变化有的时候可以起到正面影响,也可以帮助球队避免降级或者帮助赢一个比赛。不过,在球队中不稳定的球员人负面的影响比较大。比如,彻西的所有者罗曼·阿布拉莫维奇因频繁换经理而闻名。在他的所有权下,球员在转会期间也经常被昂贵的球员代替了,但并不能证明他们花的钱是值得的。一个例子就是50百万英镑价格得费尔南多托雷斯,他在172场比赛中进球了45次。这种浪费金钱表明冲动购买会在经济上和比赛中伤害俱乐部。俱乐部的稳定环境可以提高水平,从而带来金融成功。这方面的一个例子就是曼联,弗格森是曼联的经理23年,在此期间他赢得了13次英超。


3.2

在现代的转会市场购买昂贵的球员可能会对俱乐部的财务状况产生负面的影响,也可能给球队带来巨大的压力。大量转会费用也可以提高球迷对昂贵球员的期望,让整体球队变得更好。如果该昂贵的球员没有好的表现,这可能会对俱乐部的财务安排造成压力。比如说卡洛斯特维斯在2016年12月转会到上海申花,预计他会有很多进球而且提升球队的表现,但是效果却相反,从而浪费了很多上海申花的资金。

3.3

通胀的转会市场也对比较小的俱乐部产生影响,因为他们有限的资金意味着他们不能跟比较大的俱乐部竞争。这造成了巨大的资金缺口和大小俱乐部之间的质量差异。今天在英超中此类事情发生了很多,最好的六个球队与其他球队之间显然存在巨大差距,这主要是由不同的可用资金水平造成的。该事情对于大部分的俱乐部来说,是一个明清负面的影响。

金钱对中英现代足球运动员的影响


4.1.1

本部分重点讨论市场的通胀对球员本身有什么影响,以及这对足球整体有什么影响。高额的转会费可能改变球员的行为方式,也可能改变他在球场上的表现。如果一个球员被英超俱乐部以超过5000万英镑的价格买下,俱乐部,所有者和球迷都认为他应该达到高水平,从而产生很大的压力。一些球员享受压力然后成为世界级的球员。不过,有些球员在这种压力下会崩溃,从未达到他们的价格相应的水平。


4.1.2

在现代社会,因为足球是极受欢迎的活动,一些球员达到超级巨星的地位,因此由于他们的观众需要改变自己的行为。社交媒体也增加了这种压力,而且让昂贵的球员跟名演员或者音乐家有一样的名气水平。该名气对现代足球产生了深刻的影响。去掉一个有名的例子是保罗伯格巴在2016年转会到曼联,他的价格是89百万英镑[16]。这是为一名球员支付的费用的最高纪录,尽管没有人会对伯格巴的足球能力产生质疑,但有些人认为自从转会到曼联后他的表现并不好。伯格巴的转会让他在英格兰非常有名,因此这种名气和他是否值得这个高价,这可能会对他表现产生负面影响。另一个例子是卡洛斯特维斯,他转会到上海申花在第三部分中提到了。在中超期间,他的工资每周大约是65万英镑,考虑到他在20个比赛中只有进球了四次,他的工资特别高[17]。该大量工资肯定对特维斯造成了负面影响,因为他自己承认,这让他成为特别懒,不能达到最高的水平,因为他知道他无论如何都收到了这么高的工资。该转会不但对上海申花产生了负面影响,而且对整体中国足球造成了潜在的损害,这是因为一些外国球员转会到中国超级联赛作为金融决策而不是职业生涯决策。就是说,一些球员会想要像特维斯一样来到中国为了“放假”,把中国当作跳板收到了大量工资,然后转会到其他地方继续他们的职业生涯[18]


4.2

富有和急功近利的所有者使许多外国球员进入英超和中超联赛,这导致了英国和中国国家队的痛苦。原因是许多所有者和经理没有时间等待本土的国家人从青队到高级球队突破。他们希望快速提高球队,从而更快地赚钱。联赛中更多的外国球员意味着英国或者中国球员进步和提高的机会减少,从而损害国家队。中国已经为了改善这种情况,采取了前面提到的100%税法。对年轻英格兰球员来说机会越来越少,这导致英格兰国家队多年来一直受到损害,这可能因为在基层发展不足,以及在顶层的机会不足。

4.3

在这个阶段,重要的是要注意金钱对足球有一些积极的影响。俱乐部现在的资金,特别是在英超中,意味着在比赛中看到的质量水平肯定远高于30年前。这笔钱可以让俱乐部建立训练设施,拥有最好的球队理疗,有经验的教练和世界上最好的战术经理。许多所有者认为一个高级的英超球员是投资,因此对待他们的身体很好,给他们最好的待遇,以帮助他们达到最高的能力。对球员来说,这意味着即便没有很多机会达到最高的水平,但是当他们达到那里,由于现代足球的资金,这些设施令人难以置信。不过,只有顶级球员才能使用这些特别好的训练设施。其他的球员必须使用俱乐部所能提供的设施。

金钱对中英现代足球迷的影响


5.1

这篇文章的最后一部分关注足球市场通胀对球迷有什么影响。即便所有者在制定俱乐部的重大决策的时候有所有的权力,但是球迷在接受这些决策的同时肯定有影响力。他们花钱买票,如果他们对球队的表现或者对经理不满意,这会对所有者,以及他怎么做出决策产生很大的影响。比如说,如果一支球队的表现不好,球迷可能会反对他,这经常意味着经理人的变化。


5.2.1

通过提高比赛门票价格,市场通胀也影响了球迷。在英超中,平均票价超过30英镑,有些比赛价格高达95英镑[19]。 2017年的季票价格在整体英超中都不一样。有些俱乐部,比如说哈德斯菲尔德,为了提高球场的气氛与其有很多球迷能来比赛,不如通过比较贵的门票挣钱,他们最便宜的季票只有100英镑,而其他俱乐部季票则要贵得多。比如说阿森纳最便宜的季票价格是891英镑[20]。中国超级联赛的比赛门票可能会有所不同,从100元到350元不等[21]。价格通常每年都会上涨,有的时候会导致人们买不起,这令许多球迷非常生气,特别是在英格兰。工薪阶层特别感觉到这种愤怒,因为理论上每个人无论经济背景如何,都有权享受足球比赛。究竟,足球原来是工薪阶层的运动。比较高的价格导致体育场内真正的球迷减少,从而导致比赛的时候气氛很平淡。在曼联商学院的MBA研究中,曼城队长文森特·康帕尼发现,在体育场里有真正球迷购买合理的价格门票不但可以改善体育场内的气氛,而且会对球员的表现有积极的影响[22]


5.2.2

如果价格继续上涨,大型体育场在比赛期间会不但有很多空座位,而且能买得起的人仅限于富人或者公司,经常不是真正意义上的球迷。前曼联队长罗伊基恩与文森特康帕呢持有相同的意见。他一再表示不喜欢这些观众,因为他们没有对体育场内的气氛做出贡献。支持球队的球迷和球队在比赛中表现比较好有明确的联系。不过,英超俱乐部的所有者还继续提高门票价格,在俱乐部和球迷之间造成分歧。这是金钱对现代足球的一个明显的负面影响。

结论

为了回答金钱对中英足球利大于弊还是弊大于利,已经有了很多相关的研究。答案取决于每个人的情况,但是我认为,从上述每个被审查组中,大多数人会认为弊大于利。比如说,由于高价格和平淡的气氛,即便在英格兰这个问题比较严重,大多数中英球迷都会认为弊大于利,但也有的人认为,由于我们看到的高水平足球与30年前相比,高价是值得的。在英超里,顶级球员会认为利大于弊,因为他们每周收到10万英镑,而且能够体验并享受世界上最好的设施。然而大多数其他没有达到顶级水平的球员会认为弊大于利因为机会很少,俱乐部所有者对球队永不满意。这适用于英超和中超的球员。联赛中几家最有钱的俱乐部会认为利大于弊,因为他们可能成功购买顶级的球员然后在联赛的顶端制造垄断。不过,富裕程度较低的俱乐部会反对,因为独占顶级资源是不公平的。这使我们得到一个结论:对于那些富裕的少数群体来说,市场的通胀和足球作为行业的增长并不是问题,但对于富裕程度较低的大多数人来说弊大于利。


参考文献

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[5] https://www.theguardian.com/football/2018/feb/01/agents-gravy-train-curb-excessive-fees David Conn - (Agents’ runaway gravy train set to be derailed in bid to curb excessive fees) 发表时间:2018年2月1日/查阅时间:2018年4月6日

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[17] http://sports.eastday.com/a/170822104540507126818.html 天空体育 (迷失在申花的特维斯到底怎么了?)发表时间:2017年8月22日/查阅时间:2018年4月26日

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[20] https://www.telegraph.co.uk/football/2017/11/16/price-football-80-per-cent-premier-league-ticket-prices-reduced Telegraph Sport (Price of Football) 发表时间:2017年11月16日/查阅时间:2018年5月5日

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[Translated version]

Contents


Introduction


1 - The status of football's transfer market

1.1 Rules of the transfer market

1.2 Financial Fair Play regulations

1.3 Agent fees

1.4 Xi Jinping's policy on football


2 - Causes of China and the UK's transfer market inflation

2.1 Broadcasting contracts

2.1.1 Fees paid by networks to the leagues

2.1.2 The increasing demand for football

2.2 Advertising during broadcasting

2.3 Club sponsorship contracts


3 - The effect of market inflation on Chinese and English clubs

3.1 Impatient owners create unstable environments

3.1.1 Managerial merry-go-round

3.1.2 High player turnover

3.2 The financial pressure of buying big

3.3 The economic impact of inflation on smaller clubs


4 - The effect of market inflation on players in the CSL and EPL

4.1 Player fees and wages

4.1.1 Impact on form and behaviour

4.1.2 Dealing with superstar status

4.2 The impact of inflation on the national teams of England and China

4.3 A shift in quality?


5 - The effect of market inflation on fans in China and England

5.1 How the role of the fan has changed

5.2 Exponential increase in ticket prices

5.2.1 The shift away from the sport of the working class

5.2.2 The impact of corporate tickets


Conclusion


References



Introduction


From kids kicking a ball around in Beijing's hutongs to elite athletes on the pristine turf of Wembley Stadium, football is the most played sport on the planet. Feverish popularity has led to the sport becoming a highly lucrative industry and has made millionaires out of owners, agents, athletes and many others.


When studying the global football market, transfer fees are a useful way to gauge inflation levels. Not only is the average transfer fee higher than it ever has been today, but it will inevitably become even bigger every transfer window until the bubble bursts. The Chinese Super League is an excellent example of how the sport can fast become a multi-million-dollar industry. In the past decade, the CSL has seen some of the highest transfer fees and player salaries in history - usually provided to players that were playing in Europe in order to promote Chinese football globally.


As well as transfer fees, wages of the modern player have gone through the roof. The average salary of players playing in the English Premier League is sixty-three times higher than that of the British nurses and ten times higher than that of the Prime Minister. Many believe this obsession with money has had a negative impact on the basic values of the beautiful game, but there are some undeniable advantages. This article will explore how market inflation affects different groups within football to answer whether or not the benefits of unprecedented money in the game outweigh the disadvantages.


In order to answer this question, the paper is divided into five specific parts followed by a conclusion. As a frame of reference for the rest of the thesis, part one will introduce the current financial rules of the transfer market. The second part will discuss the causes of inflation in the Chinese and British football markets over the past two decades, while the following three sections will analyse how market inflation affects the three biggest groups in the world of football - the clubs, players and fans.


1 - The status of football's transfer market


1.1

In Europe, the club season ends in most major leagues (England, Germany, France, Italy and Spain) in May and the new season begins in August. During this summer window, the club can change and improve the team by buying and selling players. There is also a month-long transfer period in January in which the club can do business, but many of the biggest transfers occur during the summer.


When a player transfers to a new club, the contract with the previous club is terminated. The new club has two options when attempting to buy a player: negotiate with the old club or pay the buyout clause in the player's contract if there is one and negotiate directly with the player.


A player usually leaves the club for several reasons. For example, another club may be impressed with him, or his existing club may want to sell because he is not satisfied with his level. In modern football, although there is no legal basis, high-profile players can usually force a transfer by expressing their dissatisfaction with the current situation to their agent, and then the player submits the transfer request to the club. Clubs can also loan players out to different clubs.


1.2

In 2010 the Union of European Football Associations (UEFA) developed a set of rules aimed at restricting club spending - the Financial Fair Play rules. FFP stipulates that clubs can only spend more than €5m more than what they earn within three years. That number increases to €30m if the owner or a related party can supplement the losses. Clubs that do not comply may be punished through bans and heavy fines.


Chinese football has also been affected by some financial laws that have already had a great impact on the Chinese football market and have made transfers involving high fees increasingly difficult. These rules stipulate that the club needs to pay a "100% tax", which means that if the club is losing money every year, for each overseas player introduced, the club must invest the same fee in the youth team. The aim is to see more local talent in the Chinese Super League and less foreign superstars that bleed clubs dry.


1.3

An important factor within a transfer is the player's agent. This person negotiates the player's transfer fee between the two clubs and plays a part in his wage demands. The current inflation in the football market has resulted in huge fees being paid to "super agents" who represent the most famous players, and the fees they receive are often undisclosed. A leaked document from 2016 indicated that during Paul Pogba's move to Manchester United, super-agent Mino Raiola received £41m - almost half the actual player transfer fee. Although the president of FIFA described the agent's behaviour during the current transfer as “tolerable”, these fees are an example of how the market becomes inflated and vast amounts of money are spent behind the scenes.


1.4

Xi Jinping's love of the game has prompted huge funds to be invested into the Chinese football. In 2011, he set three goals for the national team: to participate in the Football World Cup, to host the Football World Cup and to win a World Cup by 2050. An article in the Financial Times said that in order to achieve these goals, Xi Jinping promised to have 20,000 training centres and 70,000 football stadiums in use by the end of 2020. He also sent scouts and businessmen to Europe to bring back famous overseas players in an attempt to internationalise the image of Chinese football. The article also said that during the 2016 summer transfer, Chinese clubs spent more than US$280 million on overseas players. Some years have passed now since Xi's plan to bring in more foreign players was put in place and while it has brought the CSL to the attention of the international football community, it hasn't necessarily been for the right reasons. The quality of the league is chastised by Europeans - players who go there are seen as greedy and looking for a big payday. It has also led to the national team suffering, hence the introduction of the 100% tax law.


2 - Causes of China and the UK's transfer market inflation


2.1.1

Today's football market has never experienced such an inflation level, and the situation is getting worse. The Premier League’s transfer costs per season increased from around £250 million in 2006/07 to over £1 billion in 2016/17. The biggest reason for this is the TV broadcast deals struck between the league and the broadcasters in their respective countries. For example, the English Premier League has a huge deal with Sky and BT Sport. The broadcasting rights between 2016-2019 season are valued at £5.336bn, up from £1.773bn between 2010-2013.



In China, Beijing’s China Sports Media Corporation and the Chinese Super League reached a value of $1.1bn in 2015 for five years' worth of broadcasting rights. Media companies pay these fees to the league, which then permeates down to the clubs, which gives them more money to pay wages and buy new players during the transfer. This leads to an increase in player transfer prices because all clubs know that there is a lot more money being pumped into the system.


2.1.2

Sky and China Sports Media paid these huge fees to purchase the right to show games because they know the ratings will always be high, which means more money for them through advertising. User subscriptions are another source of revenue. In England, bars and pubs have to pay up to £20,000 per year on average to play Premier league games. Some smaller venues have been forced to stop playing games due to the high fees, but as far as broadcasters are concerned, this is be a good thing because it forces individuals to pay for a subscription in their own homes. From the perspective or pubs and individuals, this blind pursuit of money is an obvious negative impact of money on modern games and is making watching games more difficult and expensive to watch.


2.2

The Premier League is the most-watched football league on the planet. So many people watching creates the perfect environment for companies that want to advertise products. The networks can set huge fees for just a 15-second advert, with the average cost of an advertisement during a Premier League match is around £35,000. This pumps more money into the system and helps inflate the market.


2.3

Advertising has become an integral part of modern football. Every top-tier club in English football will set up billboards in and around the stadium to generate income for the club. Another profitable form of advertising is through shirt sponsors. Premier League clubs often switch sponsors each season in order to seek the best deal, and the Chinese clubs are also taking advantage of this financial opportunity. Guangzhou Evergrande reached a ¥100m deal with the Sino-Japanese joint venture Dongfeng Nissan in 2014.


China's former richest man Wang Jianlin (owner of Wanda Group) signed an agreement to sponsor the next four FIFA World Cups. Like Xi Jinping, Wang Jianlin has a high passion for football, and this heavy investment will surely have an impact on the Chinese Super League and Chinese grass roots football.


3 - The effect of market inflation on Chinese and English clubs


3.1.1

This section of the thesis is about the overall impact of market inflation on a club. It also includes details on how larger clubs cause inflation to continue and in many cases, get worse. As mentioned earlier, money is the driving motivation behind the success of modern top tier clubs. Many big club owners are already millionaires, sometimes billionaires, so they have already made a fortune. They know that success and winning trophies means a lot more money, so they buy clubs as a financial investment.


Chelsea received roughly £150m for winning the league in the 2016/17 season. £38m came from coming first in the division, while the rest came from broadcasting and advertising revenue. Even if a club ranks 16th, avoiding relegation from the Premier League is considered a huge success for smaller clubs because not only will they received a financial reward, next season's broadcasting revenue is locked in as well. This is huge financial incentive for club owners.


In order to achieve success in the league, owners often change managers during a bad run of form or spend a lot of money for new players during the transfer window. This can sometimes work wonders but can also result in an unstable situation at the club. Continuous change sometimes has a negative impact on the team's performance, or it may make the fans angry at a lack of consistency. Any football fan will tell you that sometimes it's nice to just see a stable environment where the players and managers are given a chance. If a club is threatened with relegation, the owner will sometimes make a quick decision to replace the manager to try and stay in the Premier League with just a handful of games left. When this approach succeeds, the owner looks like a genius, but when it fails, the decision looks reckless and misjudged.


3.1.2

The stability of the club is also affected by players coming and going during transfer windows. Sometimes it can have a positive impact and can help the team avoid relegation or win a league. However, the negative impact of an unstable team can be quite significant. Chelsea owner Roman Abramovich is known for his frivolous spending. An example of this is the £50m signing of Fernando Torres who scored 45 times in 172 games and was considered a huge disappointment. This waste of money shows that impulsive purchases can hurt clubs financially behind closed doors and also on the pitch.


A stable environment at a club can raise the level and bring financial success. An example of this is Manchester United under Sir Alex Ferguson. During his 23 years in charge, United won 13 Premier League titles and are considered one of the greatest teams of all time.