ISSN: 1756-8811 Birkbeck Sport Business Centre Research Paper Series Economic evaluation of Football players through media value Pedro Garcia-del-Barrio, Universitat Internacional de Catalunya Francesc Pujol, Universidad de Navarra Volume 9, Number 3, September 2016 Copyright © Pedro Garcia-del-Barrio and Francesc Pujol 1 Economic evaluation of Football players through media value Pedro Garcia-del-Barrio* (
[email protected]) Universitat Internacional de Catalunya Francesc Pujol (
[email protected]) Department of Economics, Universidad de Navarra ABSTRACT This paper describes an approach based on media value to evaluate sport talent. We then apply this methodology to estimate the theoretical value of transfer fees for professional football players. First, we compute the individual index of media value and expressed it with respect to the average of the top 2,500 players included in our data set of more than 5,000 individuals. The media value score is the factor by which the number of news of a player multiplies the news articles of the normal (average) player in our sample. Based on individual appraisals, we then work out the media value rank of football teams and leagues. To calculate the theoretical value of football players, we estimate regression models using as dependent variable the transfer fees actually paid. Our analyses allow us to conclude that, in determining the theoretical transfer fee of a player, it is necessary to consider a few variables, among which the media value status plays a major role. Other explanatory variables to explain the transfer fees are: contract duration, economic status of the hiring team, number of years of experience (quadratic form), player's age at the end of the contract, and media value share of the player within his team.