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When I was only a teenager, I really loved football. Every weekend, either in the stadium or on TV, I watched my favorite team play. I began every week hoping to read the analyses and reports of football magazines and newspapers and ended them hoping my favorite team would win. My football world was very beautiful, full of love, sorrow, and joy. However, there was always one thing annoying: I have to answer to many around me and sometimes even to myself a question that was frequently asked with different framing: How do you benefit from these games? Others would benefit or loss, it is none of your business.
Grandma, repeatedly asked with surprise or ridicule that football replaced your education and business?! At that time I had no answer to this question or concern, but now I am sure that my son will have a convincing answer if he faces the same question. JETCOIN and similar decentralized projects offer an opportunity to be involved in our beloved sport; emotionally and financially.
Potential JETCOIN impact on society
The impact of football fans being able to invest in their favorite sport or contribute to the career of their favorite athlete seems limited to a social group at first glance. However, with a closer look, this can have a broader and deeper impact. It can be considered as a unique opportunity for significant change on a larger scale if we look at the capital or values involved, and more importantly if we see what social groups can benefit from this opportunity in the world. This impact can be in line with the distribution of wealth and easing world inequality. The view from which many fans of the world of cryptocurrencies and bitcoin is looking to the this World.
In the following lines, I would like to briefly examine first what the football industry is like, and then which social groups can take advantage of projects such as JETCOIN using data and statistics available online.
Market size
The graph below shows the market size of the European professional football market from 2006/07 to 2019/20. You can see from the graph that the market size in Europe was around 28.9 and 25.2 billion euro in years 2018/19 and 2019/20 respectively. If you want to have a better idea of how big is this market size you can compare it with the gross domestic product (GDP) of a random developing country; for instance, Senegal. Senegal is a country in West Africa with around 16 million population. Senegal has around 550 professional footballers playing in professional leagues all over the world, among those 250 playing in England, Italy, Spain, France, and Germany (). Two notable examples of Senegalese football players are Sadio Mane playing in Liverpool and Edouard Mendy playing in Chelsea. Senegal's GDP in 2021 was the same as $28 billion(around 25 billion euros). And more than one hundred countries had less than this 28 billion euro GDP in 2021 (
The global market size is much higher than this and a part of that is dedicated to athletes' income. According to "In total, the ten highest-paid soccer players are expected to collect pretax earnings of $585 million this season [2021-22], up from last year’s $570 million." Through this many firms and dealers make money. JETCOIN's refers to the data showing that sports agencies earned $2.1 billion through the athletes' contracts commission fees.
Firms featured on the 2017 Forbes’ list of the best sports agencies have collectively negotiated player contracts to the tune of more than $43 billion. In doing so, they have netted a cool $2.1 billion in personal commissions.
Now, the question is what is the share of football fans in this large amount of financial transactions in football industry and what is their profit. And if there is an opportunity for these football fans to take profit from this big size of market, what social groups are rewarded.
Socioeconomic status of football fans
FIFA estimates that 270 million people are officially involved in the sport to some degree. A survey among 14,000 football players in 54 countries and 87 leagues in Europe, the Americas, and Africa show that not all football players are rich. More than 45% surveyed earned less than $1000 (USD) a month with fragile and temporary contracts (). The fans are billions scattered in more than 200 countries. Statistics show that 5 major soccer leagues worldwide had an average of 22,000 to 43,000 game attendance. Football fans in the world are certainly beyond that. For example, roughly 1,17 million television viewers watched the live broadcasts of matches of the Bundesliga club FC Bayern Munich on the pay-TV channel.
It is obvious that football is not a sport for people who belong to a higher class of society. Research among popular sports in the US shows that Major League Soccer (MLS) has the highest share of Hispanics by far (34 percent; second is the NBA at 12 percent) and the lowest income of any major sports audience. Nearly 40 percent of its fans make less than $40k (
Other studies in other countries also show the negative correlation between socioeconomic status and football fandom. For instance, in a among Hungarian football fans, data shows the major class is unskilled and semi-skilled workers. Only 2,15% intellectuals.
Let's dream
The market size of the football industry is huge. High-status football players, club owners, and transfer agencies make money from this market. The market is concentrated in developed countries and major European leagues. There are billions of real football lovers who are thriving in this market. These true lovers are scattered across the world. Mostly from the countries that export many professional players, however, they have a tiny share of the market. The JETCOIN decentralized project and alike can follow the idea of better distribution of wealth in the world and disrupt the existing order.
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