Designing a Pricing Model for Players in Iranian Professional Football

Subject Areas : Sports Science and Healthy

Ahmad Gorjipour ¹ , Vahid Shojaei ² , Mohammad Hami ³

1 - 1. PhD Candidate in Sport Management, Sari Branch, Islamic Azad University, Sari, Iran.
2 - Associate Professor in Sports Management, Sari Branch, Islamic Azad University, Sari, Iran
3 - Associate Professor, Department of Sport Management, Sari Branch, Islamic Azad University, Sari, Iran.

Received: 2024-07-27 Accepted : 2024-08-14 Published : 2025-01-15

Keywords: Model design, Football player pricing, Game theory, Iranian Professional football,

Abstract :

The aim of the present study was to develop a player pricing model for Iranian professional football. This qualitative research employed a model design approach grounded in theory. Seventeen marketing managers from Premier League football clubs, football coaches, university professors, and active football agents participated voluntarily in this study. Participants were selected through non-random, purposive sampling for interviews. Interviews continued until theoretical saturation was achieved. Data analysis was conducted using MAXQDA 18 software. Concepts were extracted through a three-stage coding process. Then, a model based on the Glaser framework was developed through category classification and selective coding. Based on the analysis of the findings, four dimensions—personal traits, technical performance, psychosocial skills, and contextual factors—comprising 112 categories and a total of 643 primary conceptual codes (in repetition mode) were identified as components influencing player pricing in professional football in Iran. These components were accurately quantified. These components are categorized into four dimensions: 1. First Dimension: Height, visual and physical beauty, weight, talent, individual awards, and team awards. 2. Second Dimension: Performance quality, shooting power, jumping ability, effort and running rate, muscular endurance, technical diversity, physical strength, passing accuracy, dribbling ability, shooting accuracy, and ball control. 3.Third Dimension: Creativity, team-building skills, psychological and social adaptability, intrinsic motivation, and competitive spirit, along with agent negotiation. 4. Fourth Dimension: Social status and legal restrictions. It is advisable for club managers, footballers, and other stakeholders to consider the various aspects of this model when negotiating and making decisions regarding contract signings. This model serves as an efficient tool for more accurately and fairly assessing the value of players, thereby enhancing decision-making processes in the buying and selling of players. Finally, this research provides a comprehensive and practical model that assists managers and officials of Iranian football clubs in attracting talented and valuable players at reasonable costs. By considering all effective factors, this model aims to enhance the performance and success of their teams.

References:

1. Abdi, S., Zangi Abadi, M., & Talebpour, M.. Determination of Role of Effective Factors in Valuation of Players in Iranian Premier Football League. Journal of Human Resource Management in Sport, 2016; 3(2), 121 - 136. . (Persian)
2. Amir E, Livne G. Accounting, valuation and duration of football player contracts. Journal of Business Finance & Accounting. 2005 Apr;32(3‐4):549-86.
3. Basirat, M., Khajeheian, D., & Roshandel Arbatani, T. A Theoretical Model for Identifying Media Value of Football Players in Iranian Professional League. Sport Management Studies. 2019; 11 (57): 121-40. (Persian). DOI: 10.22089/smrj.2019.7317.2550
4. He Y. Predicting market value of soccer players using linear modeling techniques. University of Berkeley (working paper). 2012.
5. heidari toopkanlu M, Sadeghi Boroujerdi S, Andreff W, Amiri S H. Identifying Functional Variables Affecting the Financial Value of Iran Football Players. 3 2021; 8 (31) :91-99. (Persian). URL: http://ntsmj.issma.ir/article-1-1515-fa.html
6. Izadyar, M., Memari, Z., Mousavi, M. Pricing Equation for Iranian Premier League Football Players. Journal of Economic Research (Tahghighat- E- Eghtesadi), 2016; 51(1): 25-40. . (Persian). doi: 10.22059/jte.2016.57595
7. Kanyinda A, Bouteiller C, Karyotis C. Human capital: assessing the financial value of football players on the basis of real options theory. Investment management and financial innovations. 2012(9, Iss. 4):27-37.
8. Lenten LJ, Geerling W, Kónya L. A hedonic model of player wage determination from the Indian Premier League auction: Further evidence. Sport Management Review. 2012 Feb 1;15(1):60-71.
9. Martins D de S. Hedonic Pricing in Professional Football: Is players’ transfer value explained by sporting performance? In 2015, Master in Management Dissertation, School of Economics and Management of Porto.
10. Memari, Z., Hoda, K., Safaie, A. The Valuation of Football Players with Data Mining Technique (Case Study: Esteghlal Club). Sport Management Journal, 2020; 12(3): 735-757. . (Persian) doi: 10.22059/jsm.2019.262922.2128
11. moradzade, M., sheikh, R., mayali, Z. Selection of players based on objective criteria with the approach of expert evaluation algorithms and ARAS multi-criteria decision making method (Case Study: University basketball team Shahrood). Contemporary Studies On Sport Management, 2017; 7(13): 1-12. doi: 10.22084/smms.2017.7507.1694
12. Morrow, S. The new business of football: Accountability and finance in football. Macmillan Business. (1999). 1-12.
13. Naderian, M., Rahbari, S., Ghorbani, M. A comparative study of how to finance the professional football clubs in Iran's and England premier league. Applied Research in Sport Management, 2015; 3(3): 31-42.
14. Naghdi, Y., Kaghazian, S., Afsharpey, A. Analysis of the Economic factors Affecting Income of Football Clubs (Selected World Clubs). , 2013; 2(1): 21-43. (persian).
15. Poza C. A Conceptual Model to Measure Football Player’s Market Value. A Proposal by means of an Analytic Hierarchy Process.[Un modelo conceptual para medir el valor de mercado de los futbolistas. Una propuesta a través de un proceso analítico jerárquico]. RICYDE. Revista Internacional de Ciencias del Deporte. doi: 10.5232/ricyde. 2019 Sep 18;16(59):24-42.
16. Rastogi SK, Deodhar SY. Player pricing and valuation of cricketing attributes: exploring the IPL Twenty20 vision. Vikalpa. 2009 Apr;34(2):15-24.
17. Ruijg J, van Ophem H. Determinants of football transfers. Applied Economics Letters. 2015 Jan 2;22(1):12-9.
18. Singh P, Lamba PS. Influence of crowdsourcing, popularity and previous year statistics in market value estimation of football players. Journal of Discrete Mathematical Sciences and Cryptography. 2019 Feb 17;22(2):113-26.
19. Soltani A, Bagheri M, Ghorbani M. Investigating and applying the VAHC model to calculate the value added of soccer players. J Account Financ Manag. 2010 Jun 22;4(1):191-210.
20. Tunaru R, Clark E, Viney H. An option pricing framework for valuation of football players. Review of financial economics. 2005 Jan 1;14(3-4):281-95.