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The 'Cup-o-nomics' of Euro 2016

Tuesday, May 31, 2016 - 01:38

Spain will defy the bookies - and Germany as favourites - to be soccer champions of Europe if the most 'expensive' team wins, according to a 'Cup-o-nomics' report on the upcoming European Championships. Ivor Bennett reports.

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The first lesson of Cup-o-nomics is simple: big names mean big money. So with the likes of David De Gea and Cesc Fabregas in their squad, Spain come out on top of ING's rankings of the most expensive teams at Euro 2016. Valued at 658 million euros. Hungary is at the opposite end of the scale. An estimated value of just 28 million euros barely a quarter of Group F opponent Cristiano Ronaldo's price tag. Time then for lesson number two: money doesn't necessarily mean success. SOUNDBITE (English) IAN BRIGHT, SENIOR ECONOMIST, ING, SAYING: "Provided you play six, seven, eight, nine, ten 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." Leicester City's 5000-1 triumph in this season's English Premier League is a case in point. And it's the less-tipped teams who are the best supported. ING's 'super fan' index ranks Turkey on top More than half of fans there were found willing to sacrifice as much as 1 percent of their annual income if it meant Turkey won the tournament. SOUNDBITE (English) IAN BRIGHT, SENIOR ECONOMIST, ING, SAYING: "I don't think it says anything whatsoever of being more spendthrift or more careful with your money as a result of this. I think it is purely a case of emotions." As in finance, though, emotions can be a dangerous thing Spreading the investment risk is often the best way to ensure success. But try telling that to these supporters.

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The 'Cup-o-nomics' of Euro 2016

Tuesday, May 31, 2016 - 01:38