Career of professional soccer players after sport. A life cycle based analysis.
Empirical Social Research
Final Report Abstract
The project examined the life cycle hypothesis regarding the consumption and saving behavior of former professional footballers concerning their post-sporting career paths and socioeconomic conditions. The investigation focused on the link between sporting careers, professional success, income streams, and job positions. Despite previous findings on difficulties faced by former players in transitioning to retirement, there was a lack of representative data for dual career programs. To address these research gaps using quantitative methods, a survey instrument was developed and launched in October 2019. The analysis focused on former male professional football players. The results indicated that long-term psychological issues were below average. Former players rated their social status and current income more positively than the comparison group. Career satisfaction was high, with none being unemployed. Despite limitations, the results suggest a rather positive post-sporting situation for former professional footballers, contrary to the often-portrayed media image of a problematic retirement transition. The supplementary qualitative analysis of players' saving behavior revealed significant heterogeneity. Despite the opportunity for financial planning during their professional careers, not all succeeded. The transition from active career to post-sporting life was challenging, especially due to income losses and unemployment. For a successful transition from professional career to post-sporting life, adjusting consumption behavior and generating new income proved crucial. Players with sufficient financial planning also showed a successful transition before an unexpected career end, whereas inadequate planning made consumption behavior a decisive factor. Players with high consumption and low planning struggled to adapt after the transition. Generating income outside of football, particularly leveraging their fame as former professionals, was frequently observed. Most players experienced a successful transition to post-sporting careers, with only a few reporting serious financial difficulties after retiring from professional football. Investments in vocational education can also help facilitate a successful transition to post-sporting careers. However, many football professionals face challenges in investing sufficiently in their vocational qualifications due to their time commitments in football. Such investments in human capital are also of little interest to professional footballers during their careers as they prepare for future phases with expected lower incomes. Nonetheless, the majority of surveyed professional footballers have taken measures to acquire vocational qualifications, some of them concurrently with their sporting careers.
Publications
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Retirement of professional soccer players – A systematic review from social sciences perspectives. Journal of Sports Sciences, 39(8), 903-914.
Barth, Michael; Güllich, Arne; Forstinger, Carina Andrea; Schlesinger, Torsten; Schröder, Frank & Emrich, Eike
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The consumption and saving behaviour of professional football players – looking into a socio-economic problem. European Journal for Sport and Society, 19(4), 305-322.
Barth, Michael; Schröder, Frank; Emrich, Eike & Schlesinger, Torsten
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Is Professional Soccer a Risk for Their “Lives Afterwards”? A Social-Sciences-Based Examination of Retired Professional Soccer Players from a Long-Term Perspective. Journal of Risk and Financial Management, 15(12), 609.
Barth, Michael; Schlesinger, Torsten & Pitsch, Werner
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After the gathering comes the scattering?. Current Issues in Sport Science (CISS), 8(1), 003.
Schlesinger, Torsten; Barth, Michael; Bartsch, Matti & Pitsch, Werner
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An analysis of precautionary savings practices of professional football players. Sport, Business and Management: An International Journal, 13(3), 354-375.
Schlesinger, Torsten; Barth, Michael; Bartsch, Matti & Pitsch, Werner
