Alexander Dilger and Lars Vischer

The COVID-19 pandemic has led to massive restrictions and changes in many different areas of life, including professional sports. In football, many games were cancelled and then, with the unchanged maximum of three time-outs, five substitutions were allowed instead of three—initially temporarily, now permanently. We analyze the impact of this rule change on coaches’ substitution decisions, comparing 836 games with three possible substitutions and 1,000 games with five possible substitutions in the six seasons from 2017/2018 to 2022/2023 of the Bundesliga (first division of German men’s...Read more

Egon Franck

Based on the analysis of the specific environment in which football clubs compete, this paper presents a comparative institutional analysis of three paradigmatic structures of football club governance: privately owned football firms, public football corporations (stock corporations with dispersed ownership) and members’ associations with an own legal personality (Verein). Against the background that “spending power” is the main driver of competitive advantage for clubs in the overinvestment environment of European football, the governance structure of the privately owned football firm...Read more