The super expensive striker Cristiano Ronaldo is worth four times the entire Hungarian national team – in transfer fee terms.
That is just one of the fascinating facts revealed by a financial study of the 2016 European football Championships, done by Dutch financial group ING.
The entire Hungarian squad is worth an estimated 28 million euros in transfer value – or a quarter (27 percent) of the estimated transfer fee of Portugal’s Cristiano Ronaldo, which is 104 million euros.
It also found that the most valuable teams in the contest calculated by what their players are worth are Spain (658 million euros), then Germany (566 million euros), followed by home nation France (493 million euros), Belgium (452 million euros) and England (447 million euros).
Ian Bright, Senior Economist with ING, explained why they did that: “There’s been quite a number of studies which have looked at just how much you spend on a team as a good indicator of ultimate success. However, the trouble with this sort of thing, is that all of these sorts of issues rely upon repeated situations. So, provided you play six, seven, eight, nine, 10 times, you’ll eventually come out as winners just on that basis. But the beauty of some of these sorts of tournaments, is you get one-on-one situations and any one game, for example, it could be that David beats Goliath. And that’s part of the fun of the whole thing.”
Supporters of Turkey it seems are the most passionate with more than half of them theoretically willing to give up one percent of their annual salary if it meant their team would win.
Ian Bright said that is perhaps because Turkey has never won: “I think there’s an issue called adaptive expectations in here. After you’ve won a couple of times – Spain has won the last two euro tournaments, Germany has won the World Cup – after you’ve won a couple of times you get comfortable with the situation and maybe you’ve adapted to the whole situation. If you’re in the situation where you’ve not experienced these issues before, you may get even more pleasure from being exposed to these things.”
Applying the rules of finance to football would make Spain the champions as the market value of their 23-man squad is the highest, but in fact the second most valuable team – Germany – are the favourites.