Academic interest in the economics of professional team sports dates back as far as the mid-1950s. Since then, many books and journal articles have been written on the subject. Much of the academic literature originates in the United States (US). In common with trends that are evident throughout the subject discipline of economics, empirical research on the economics of sport has become increasingly sophisticated, both theoretically and in its use of econometric methodology. Papers on the economics of sport now appear regularly in many of the leading economics journals, and most economists would agree that in view of its social, cultural and economic importance, professional sport is a legitimate area of interest for both theoretical and empirical researchers. Indeed, many would argue that the unique configurations of individual and team incentives, and the interactions between cooperative and competitive modes of behaviour that professional team sports generate, make this particularly fertile territory in which to explore the perennial questions about incentives, effort, risk and reward that lie at the heart of all areas of economic inquiry.

This volume makes a contribution to the burgeoning literature on the economics of team sports, by providing a comprehensive survey of research that is focused on professional football. The spectacular recent increase in the size of football's audience is, of course, a strong motivating factor.