The financial dimension of football injuries according to the wisdom of crowds

Abstract

Research question: How football players’ injuries and consequent days missed on the pitch affect their market values is an under-researched topic. In this study, we thus examine this association for a large sample of football players. Research methods: We use an OLS regression model, where the dependent variable is the footballers’ market value provided by Transfermarkt over time for 9,230 observations from 2006-2020. Results: Our findings show that an injured player’s market value drops by 0.08% for each day out of the game and training. When the injury is severe (more than 28 days of absence) the fall increases to 11.2% of market values. These drops depend on player type (famous or non-famous), injury type (muscles, ligaments, bones, and others) and its severity. Implications: Quantifying the impact of injuries on football clubs’ intangible capital is crucial for effective risk management and strategic sporting planning.