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into quality: European football’s value frontier</div></h1></div><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-10 mck-u-animation-blur-in-800 ArticleDefault_mck-c-article-default__description__sjoe9"><div><time datetime="2024-02-28T00:00:00Z">February 28, 2024</time> | Article</div></div></div></div></div></div></div><div class="mck-o-container"><div class="mck-o-container--wrapped mck-o-container--mobile-spacing mdc-u-grid mdc-u-grid-gutter-xxl"><section data-layer-region="article-body-header" class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-animation-blur-in-400 byline-share-container"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-8 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-8 mdc-u-ts-9"><span> </span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Oliver Bierhoff </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Sebastian Flegr </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j"><a data-component="mdc-c-link" href="/our-people/jorn-kupper" class="mdc-c-link-inline___7DRrt_2734c4f mdc-c-link-inline--secondary___YKoOK_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">Jörn Küpper</span></a><span> </span></span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j"><a data-component="mdc-c-link" href="/our-people/tilman-tacke" class="mdc-c-link-inline___7DRrt_2734c4f mdc-c-link-inline--secondary___YKoOK_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">Tilman Tacke</span></a></span></span></div><div class="mdc-u-grid-col-md-start-8 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-8 mdc-u-grid-col-lg-end-11 ArticleContent_mck-c-article-content__share-tools__kWRRw"></div></section><section class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-animation-blur-in-400"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-5"><div class="mck-u-links-inline">Longer-term strategies in managing European football clubs’ first teams can create an annual competitive advantage of between €100 million and €200 million.</div></div></div></section><main data-layer-region="article-body" class="mdc-u-grid mdc-u-grid-gutter-xxl"><div class="mdc-u-grid mdc-u-grid-col-1 mdc-u-grid-col-md-12"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><div class="mdc-o-content-body mck-u-dropcap"> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="DownloadsSidebar_mck-c-downloads-sidebar__iFmyt mck-o-xs-right-span"><div data-layer-region="downloads-right-rail"><h3 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f"></h3><div><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f"><a data-component="mdc-c-link" href="#/download/%2F~%2Fmedia%2Fmckinsey%2Findustries%2Ftechnology%20media%20and%20telecommunications%2Fhigh%20tech%2Four%20insights%2Ftranslating%20budgets%20into%20quality%20european%20footballs%20value%20frontier%2Ftranslating-budgets-into-quality-european-footballs-value-frontier.pdf%3FshouldIndex%3Dfalse" class="DownloadsSidebar_mck-c-downloads-sidebar__download-link__fPqFQ mdc-c-link___lBbY1_2734c4f" target="_self" data-layer-event-prefix="Download Link" data-layer-action="click" data-layer-report-type="" data-layer-file-name="translating-budgets-into-quality-european-footballs-value-frontier" data-layer-report-name="translating-budgets-into-quality-european-footballs-value-frontier>"><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_2734c4f mdc-c-icon--size-md___yi5fA_2734c4f mck-download-icon"></span><span class="mdc-c-link__label___Pfqtd_2734c4f"> (9 pages)</span></a></div></div></div></div> <p><strong>Most professional European football clubs</strong> aim for sporting success for two reasons: first, sporting success is what matters to players, fans, and employees; and second, it is the basis of business success.</p> <p>A team’s quality drives sporting success. A strong predictor of a team’s success at the end of the season—and therefore its quality—is the market value of the team at the start (Exhibit 1).<span class="FootNote_footnote-holder__tjRqy"><a aria-label="footnote" href="javascript:void(0);" class="FootNote_footnote-wrapper__AIRwL undefined FootNote_inactive__VZfCp" aria-describedby="708f0696-a5b0-42ee-86ee-510adb54c561"><sup class="FootNote_footnotesup__e73z_">1</sup><span class="FootNote_notch-wrapper__b_5NS"><span class="FootNote_notch__omKtY"></span></span><span class="FootNote_tooltip__QtrbA mdc-u-mt-2"><span class="FootNote_footnote-content__r2OVl"><span id="708f0696-a5b0-42ee-86ee-510adb54c561" aria-hidden="true" data-module-theme="light" class="FootNote_footnote-text__VjKgO mck-u-links-inline">Here, we are referring to the aggregate transfer value of the players in the team. Note that the value of an individual player varies over time according to several factors, such as their performance, age, and injuries.</span></span></span></a></span> In the top five European leagues, for example, the club with the highest team value at the start of the season won its league’s title in three of four seasons over the past five years.</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 1</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/industries/technology%20media%20and%20telecommunications/high%20tech/our%20insights/translating%20budgets%20into%20quality%20european%20footballs%20value%20frontier/svgz_mck_footballfrontier_exs_exh1-v3.svgz?cq=50&cpy=Center"/><img alt="The market value of a football club's first team is a strong predictor of the club's sporting results." src="/~/media/mckinsey/industries/technology%20media%20and%20telecommunications/high%20tech/our%20insights/translating%20budgets%20into%20quality%20european%20footballs%20value%20frontier/svgz_mck_footballfrontier_exs_exh1-v3.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p>Previous research shows that most increases in team value stem not from net investment into new players but from what we call “team value management” across three areas: development of first-team players, integration of youth players, and player-trading excellence.<span class="FootNote_footnote-holder__tjRqy"><a aria-label="footnote" href="javascript:void(0);" class="FootNote_footnote-wrapper__AIRwL undefined FootNote_inactive__VZfCp" aria-describedby="278d763a-0227-475d-a866-873873e5a5d6"><sup class="FootNote_footnotesup__e73z_">2</sup><span class="FootNote_notch-wrapper__b_5NS"><span class="FootNote_notch__omKtY"></span></span><span class="FootNote_tooltip__QtrbA mdc-u-mt-2"><span class="FootNote_footnote-content__r2OVl"><span id="278d763a-0227-475d-a866-873873e5a5d6" aria-hidden="true" data-module-theme="light" class="FootNote_footnote-text__VjKgO mck-u-links-inline">“<a href="/industries/consumer-packaged-goods/our-insights/the-value-pitch-the-importance-of-team-value-management">The value pitch: The importance of team value management</a>,” McKinsey, September 3, 2020.</span></span></span></a></span> The research also highlights the key characteristics of clubs that have created capabilities in at least one of the three areas, allowing them to outperform even clubs with higher budgets.</p> <p>These areas of team value management have increased in importance in recent years for two reasons. First, club revenues fell during the pandemic, eroding the overall financial situation of many clubs and limiting the budgets that clubs could allocate to their first teams. Second, additional financial regulations have placed constraints on clubs spending beyond their means. Combined, these two factors have helped boost the competitive advantage of clubs that can turn limited budgets into higher-quality teams versus competitors that are less cost-efficient. This is why clubs with sound sporting models, such as Real Sociedad in Spain and Atalanta BC in Italy, have climbed the ranks despite having lower first-team budgets compared with less successful competitors.<span class="FootNote_footnote-holder__tjRqy"><a aria-label="footnote" href="javascript:void(0);" class="FootNote_footnote-wrapper__AIRwL undefined FootNote_inactive__VZfCp" aria-describedby="dcf40a2b-7cfb-436f-9442-70de90e94d7b"><sup class="FootNote_footnotesup__e73z_">3</sup><span class="FootNote_notch-wrapper__b_5NS"><span class="FootNote_notch__omKtY"></span></span><span class="FootNote_tooltip__QtrbA mdc-u-mt-2"><span class="FootNote_footnote-content__r2OVl"><span id="dcf40a2b-7cfb-436f-9442-70de90e94d7b" aria-hidden="true" data-module-theme="light" class="FootNote_footnote-text__VjKgO mck-u-links-inline">Based on their relative value increase compared with other teams in the league.</span></span></span></a></span></p> <h2>The ‘value frontier’ benchmark for value-oriented budget allocation</h2>  <p>The value frontier defines the highest-quality team that can be run on a fixed budget—and can help club management and owners understand whether their current budget is put to good use. We analyzed more than 100 professional clubs across Europe.<span class="FootNote_footnote-holder__tjRqy"><a aria-label="footnote" href="javascript:void(0);" class="FootNote_footnote-wrapper__AIRwL undefined FootNote_inactive__VZfCp" aria-describedby="69f7fd83-74f6-4073-84af-328e0b02b17b"><sup class="FootNote_footnotesup__e73z_">4</sup><span class="FootNote_notch-wrapper__b_5NS"><span class="FootNote_notch__omKtY"></span></span><span class="FootNote_tooltip__QtrbA mdc-u-mt-2"><span class="FootNote_footnote-content__r2OVl"><span id="69f7fd83-74f6-4073-84af-328e0b02b17b" aria-hidden="true" data-module-theme="light" class="FootNote_footnote-text__VjKgO mck-u-links-inline">Clubs that have played for at least three of the past four years in one of the top five leagues as well as clubs from the lower leagues that are frequent participants in UEFA Champions League competitions.</span></span></span></a></span> Our work covers four seasons, from the beginning of the 2017–18 season to the end of the 2020–21 season. The study seeks to address three questions:</p> <ul> <li>What is the budget needed to run first teams efficiently?</li> <li>How big is the competitive advantage that value-oriented budget management can create?</li> <li>Why do some budgets translate into highquality teams while others don’t?</li> </ul> <h3>Value-oriented budget allocation can create an advantage worth €200 million per year</h3> <p>Total first-team budgets are the sum of wages, net transfer investment, agent fees, and the changes in current players’ market value.<span class="FootNote_footnote-holder__tjRqy"><a aria-label="footnote" href="javascript:void(0);" class="FootNote_footnote-wrapper__AIRwL undefined FootNote_inactive__VZfCp" aria-describedby="2df5ad49-bf3d-4707-a9c4-cf71b10cd097"><sup class="FootNote_footnotesup__e73z_">5</sup><span class="FootNote_notch-wrapper__b_5NS"><span class="FootNote_notch__omKtY"></span></span><span class="FootNote_tooltip__QtrbA mdc-u-mt-2"><span class="FootNote_footnote-content__r2OVl"><span id="2df5ad49-bf3d-4707-a9c4-cf71b10cd097" aria-hidden="true" data-module-theme="light" class="FootNote_footnote-text__VjKgO mck-u-links-inline">By including the change in the financial value of players, our definition of “budget” aggregates annual cash flows and evaluation (balance sheet) effects.</span></span></span></a></span> How do these budgets relate to the quality of a team as approximated by a team’s market value? We looked at the relationship between budget and team value among the top (largest), midsize, and smaller clubs in our sample.<span class="FootNote_footnote-holder__tjRqy"><a aria-label="footnote" href="javascript:void(0);" class="FootNote_footnote-wrapper__AIRwL undefined FootNote_inactive__VZfCp" aria-describedby="98e454a7-71d6-4bbc-921c-69f41ee0fd38"><sup class="FootNote_footnotesup__e73z_">6</sup><span class="FootNote_notch-wrapper__b_5NS"><span class="FootNote_notch__omKtY"></span></span><span class="FootNote_tooltip__QtrbA mdc-u-mt-2"><span class="FootNote_footnote-content__r2OVl"><span id="98e454a7-71d6-4bbc-921c-69f41ee0fd38" aria-hidden="true" data-module-theme="light" class="FootNote_footnote-text__VjKgO mck-u-links-inline">The top clubs are the 20 largest clubs by market value (more than €400 million at the end of season 2020–21) that typically play in UEFA Champions League. Midsize clubs are the next 30 clubs by market value (approximately €200 million to €400 million at the end of season 2020–21) that typically play in UEFA competitions. The base clubs are the 54 clubs with the lowest market value in our sample (less than €200 million market value at the end of season 2020–21). These are either clubs from the top five leagues not playing in UEFA competitions or clubs from smaller leagues playing in UEFA competitions.</span></span></span></a></span></p> <p>As one might expect, clubs with higher first-team budgets have, on average, better first teams; this relationship is demonstrated by the positive correlation we see in Exhibit 2. But comparing team quality and team budgets reveals two additional findings:</p> <ul> <li><em>The value frontier helps identify the budgets required to run teams in a value-oriented way.</em> For example, in the 2020–21 season, a cost-efficient club could run a team worth €600 million (similar to the market values of clubs such as Borussia Dortmund, Inter Milan, and Tottenham Hotspur) with an annual financial resource need (taking the balance sheet effect into account) of about €100 million.</li> <li><em>The analysis enables club leaders to estimate the potential gains of efficient team value management.</em> The budget gap between first teams of similar quality at highly efficient clubs and at clubs that are lagging behind is huge: budgets differ by up to €200 million at top and midsize clubs and by up to €100 million at smaller clubs.</li> </ul> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 2</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/industries/technology%20media%20and%20telecommunications/high%20tech/our%20insights/translating%20budgets%20into%20quality%20european%20footballs%20value%20frontier/svgz_mck_footballfrontier_exs_exh2.svgz?cq=50&cpy=Center"/><img alt="First-team budgets vary between leaders and laggards by as much as €200 million a year." src="/~/media/mckinsey/industries/technology%20media%20and%20telecommunications/high%20tech/our%20insights/translating%20budgets%20into%20quality%20european%20footballs%20value%20frontier/svgz_mck_footballfrontier_exs_exh2.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p>An important takeaway is that value-oriented first-team management allows clubs to systematically outperform rivals with bigger overall budgets. Indeed, in our sample of more than 100 clubs, some of the top 20 operate with lower total first-team budgets than a substantial share of those ranking in the mid-30s.</p> <p>A look at the clubs close to the value frontier shows that budget efficiency is not tied to a specific league. The best-performing clubs (in terms of how their budgets translate into team value) compete in all the major leagues as well as in the smaller leagues (Exhibit 3). Budget efficiency is thus highly likely to be related to the quality of decision making within each club.</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 3</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/industries/technology%20media%20and%20telecommunications/high%20tech/our%20insights/translating%20budgets%20into%20quality%20european%20footballs%20value%20frontier/svgz_mck_footballfrontier_exs_exh3-v3.svgz?cq=50&cpy=Center"/><img alt="Clubs at or near the value frontier are represented in all the major leagues, as well as in smaller leagues." src="/~/media/mckinsey/industries/technology%20media%20and%20telecommunications/high%20tech/our%20insights/translating%20budgets%20into%20quality%20european%20footballs%20value%20frontier/svgz_mck_footballfrontier_exs_exh3-v3.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <div data-module-category="" class="PullQuote_mck-c-pullquote__DbaQ5 mck-o-lg-center"><blockquote data-component="mdc-c-blockquote" class="PullQuote_mck-c-blockquote__6n21p PullQuote_mck-c-blockquote--hide-quotes__CpGpg mdc-c-blockquote mdc-c-blockquote--is-quotes___TozKo_2734c4f"><p>The best-performing clubs (in terms of how their budgets translate into team value) compete in all the major leagues as well as in the smaller leagues. Budget efficiency is thus highly likely to be related to the quality of decision making within each club.</p></blockquote></div> <h3>Differences in first-team budgets reflect how teams are built</h3> <p>More than 80 percent of the budget gap between more and less efficient clubs can be explained by how clubs assemble their first teams: clubs that can identify and develop players in-house have less need to upgrade team quality via net transfer investments (Exhibit 4). This need for external quality depends primarily on the ability of clubs to successfully integrate players from the academy, recruit promising young talent at an early stage, and develop players’ potential.</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 4</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/industries/technology%20media%20and%20telecommunications/high%20tech/our%20insights/translating%20budgets%20into%20quality%20european%20footballs%20value%20frontier/svgz_mck_footballfrontier_exs_exh4.svgz?cq=50&cpy=Center"/><img alt="Differences in team composition costs are responsible for most of the efficiency gap between value frontier clubs and lagging clubs." src="/~/media/mckinsey/industries/technology%20media%20and%20telecommunications/high%20tech/our%20insights/translating%20budgets%20into%20quality%20european%20footballs%20value%20frontier/svgz_mck_footballfrontier_exs_exh4.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p>Importantly, the wage difference between players of similar quality is not the primary reason for budget differences between clubs; it’s the consequence of different approaches to team composition. For example, clubs that systematically and successfully integrate young talent from their academies pay lower wages than clubs that rely on experienced players bought in externally.</p> <h2>Getting as many decisions right as possible: A framework for competitive advantage</h2> <p>While luck remains a large factor and operational excellence in day-to-day work is vital, translating budgets into quality teams also depends greatly on about 50 sport management decisions every year. These decisions relate to identifying, developing, signing, retaining, and releasing talent—both players and technical staff. No club gets all 50 decisions right, but efforts to improve the decision-making quality within the sporting department can help clubs make fewer mistakes.</p> <p>There are many ways to improve decision quality across the three team value management areas: development of first-team players, integration of youth players, and player-trading excellence (Exhibit 5). In each of these areas, competitive advantage can originate from positioning, people, processes and tools, or structure.</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 5</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/industries/technology%20media%20and%20telecommunications/high%20tech/our%20insights/translating%20budgets%20into%20quality%20european%20footballs%20value%20frontier/svgz_mck_footballfrontier_exs_exh5.svgz?cq=50&cpy=Center"/><img alt="Football club models have several potential sources of competitive advantage across areas of team value management." src="/~/media/mckinsey/industries/technology%20media%20and%20telecommunications/high%20tech/our%20insights/translating%20budgets%20into%20quality%20european%20footballs%20value%20frontier/svgz_mck_footballfrontier_exs_exh5.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p>For example, better positioning could improve a club’s image, helping attract players. Competitive advantages can also be related to people with specific skills (such as the quality of coaches in the youth academy), established processes and tools (for instance, using a proprietary scouting database), or structural advantages (for example, a multiclub model that benefits from the synergies of multiclub cooperation). Of these, structural advantages make the most consistent impact on differentiating a club from others.</p> <p>Most multiclub models are now moving from a phase of expanding portfolios toward a phase of optimizing clubs within the portfolio. Clearly defining and connecting the sporting models across the portfolio will be critical; in turn, doing so will put additional pressure on single clubs to maintain or strengthen their competitive positioning.</p> <div data-module-category="" class="PullQuote_mck-c-pullquote__DbaQ5 mck-o-lg-center"><blockquote data-component="mdc-c-blockquote" class="PullQuote_mck-c-blockquote__6n21p PullQuote_mck-c-blockquote--hide-quotes__CpGpg mdc-c-blockquote mdc-c-blockquote--is-quotes___TozKo_2734c4f"><p>Structural advantages make the most consistent impact on differentiating a club from others.</p></blockquote></div> <h3>Differentiating competitive advantage: Examples from across Europe</h3> <p>An examination of European football clubs during the 2017–18 to 2020–21 seasons reveals a variety of team composition strategies across the three areas of team value management.</p> <ul> <li><em>Development of first-team players.</em> RB Leipzig’s upgrade into one of the three most competitive Bundesliga clubs has more to do with how the club invests money than with the amount of money it invests. A high percentage of young, world-class talent in RB’s squad indicates that the majority of its first team’s value gains result from player development rather than from net transfer investment. Thereby, being part of a multiclub model also yields structural advantages in profiting from the player development on farm teams, talent pipeline management, and developing technical staff.</li> <li><em>Integration of youth players.</em> Real Sociedad doubled its team value in five years and established itself in LaLiga’s top four. Strategic clarity and operational excellence in developing and integrating local youth players played a significant role in the club’s success; the club strives to source 60 percent of first-team members from the academy.</li> <li><em>Player-trading excellence.</em> S.L. Benfica has remained among Europe’s top three clubs in creating player value, which translates into the largest transfer profits of all clubs over the past decade. This is enabled by a dense, countrywide scouting network; a focus on player development at the core of the club’s identity; and a trader mindset when acting in the transfer market.</li> <li><em>Cross-cutting.</em> Liverpool FC offers an example of a club building a competitive advantage related to processes and tools across all three areas. By building capabilities in evaluating the performance and future potential of current and external players, Liverpool FC has been able to compete with teams with much larger budgets. This strategy is supported by a leading data science department and the development and rigorous use of analytical tools.</li> </ul> <hr/> <p>Regardless of the strategy pursued, generating value through successful team composition requires a planning horizon of at least three years. Patience and continuity—both on and off the pitch—are therefore essential building blocks for increased cost efficiency and business success.</p> <p>As in many business sectors, immense pressure to demonstrate performance in the short term—in the next game or the current season—often leads to decisions that do not take longer-term effects into account. Clubs’ top management teams would be well advised to develop coherent strategies to address the cost–value equation and engage in longer-term planning. Success does not come overnight.</p></div><div class="container-placeholder"></div></div></div><div class="mdc-u-grid mdc-u-grid-gutter-xl"><section role="contentinfo" data-layer-region="article-about-authors" class="mdc-u-grid mdc-u-grid-col-md-12 AboutAuthor_mck-c-about-author__nRJzu"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f mdc-u-align-center"></h5><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-8 mck-u-links-inline mck-u-links-inline--secondary mdc-u-mt-5"><div><p><strong>Sebastian Flegr</strong> is a consultant in McKinsey’s Stuttgart office; <strong><a href="/our-people/jorn-kupper">Jörn Küpper</a></strong> is a senior partner in the Cologne office; and <strong><a href="/our-people/tilman-tacke">Tilman Tacke</a></strong> is a partner in the Madrid office. <strong>Oliver Bierhoff</strong> is a former managing director of the German Football Association and a former professional football player.</p> <p>The authors wish to thank Fred Burdon, Marcelo Leal, Pedro Mendonça, Tiago Palma, Moritz Schmude, Dan Singer, and Ben Vonwiller for their contributions to this article.</p></div></div></div></section><section class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-screen-only"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-5 mdc-u-grid-col-lg-end-9"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f mdc-u-align-center">Explore a career with us</h5><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f mdc-c-link-container--align-center___ar3mu_2734c4f"><a data-component="mdc-c-link" href="/careers/search-jobs" class="mdc-c-button___U4iY2_2734c4f 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Card_hover-effect__RGb9b"><div class="Card_wrapper-image__8b4P6"><a data-component="mdc-c-link" href="/industries/consumer-packaged-goods/our-insights/the-value-pitch-the-importance-of-team-value-management" class="mdc-c-link___lBbY1_2734c4f"><picture data-component="mdc-c-picture" class="Card_wrapper-image__8b4P6"><style>.picture-uniqueKey-thev-0 { aspect-ratio: 16/9 }</style><img alt="The value pitch: The importance of team management" class="picture-uniqueKey-thev-0" src="/~/media/mckinsey/industries/consumer%20packaged%20goods/our%20insights/the%20value%20pitch%20the%20importance%20of%20team%20value%20management/value-pitch-1536x1536.jpg?cq=50&mw=767&car=16:9&cpy=Center" loading="lazy"/></picture></a></div><div class="Card_wrapper-text__U6Y3k"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f Card_content-block__pF6Z1"><span>Article</span><h6 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-6"><a 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src="/~/media/mckinsey/industries/technology%20media%20and%20telecommunications/media%20and%20entertainment/our%20insights/we%20are%20wrong%20about%20millennial%20sports%20fans/we-are-wrong-about-millennial-sports_748346919_1536x1536.jpg?cq=50&mw=767&car=16:9&cpy=Center" loading="lazy"/></picture></a></div><div class="Card_wrapper-text__U6Y3k"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f Card_content-block__pF6Z1"><span>Article</span><h6 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-6"><a data-component="mdc-c-link" href="/industries/technology-media-and-telecommunications/our-insights/we-are-wrong-about-millennial-sports-fans" class="mdc-c-link-heading___Zggl8_2734c4f mdc-c-link___lBbY1_2734c4f"><div>We are wrong about millennial sports fans</div></a></h6></div></div></div></div></div></div></div></main></div><script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"locale":"en","dictionary":{},"sitecoreContext":{"route":{"name":"Translating budgets into quality European footballs value frontier","displayName":"Translating budgets into quality European footballs value frontier","fields":null,"databaseName":"web","deviceId":"fe5d7fdf-89c0-4d99-9aa3-b5fbd009c9f3","itemId":"c17a0875-e7e2-42b1-83dd-6fcf538b3c13","itemLanguage":"en","itemVersion":1,"layoutId":"ae753eb4-a035-40b4-83bf-4b4438df6742","templateId":"683910db-02ba-40ba-92e7-726c880160a9","templateName":"ArticleJSS","placeholders":{"jss-main":[{"uid":"232bb7e9-289f-492d-a916-2b6185e44a84","componentName":"ArticleTemplate","dataSource":"","fields":{"data":{"articleTemplate":{"title":{"jsonValue":{"value":"Translating budgets into quality: European football\u0026rsquo;s value frontier"}},"sEOTitle":{"value":"Peak team management: Competitive advantage in football"},"description":{"jsonValue":{"value":"Longer-term strategies in managing European football clubs\u0026rsquo; first teams can create an annual competitive advantage of between \u0026euro;100 million and \u0026euro;200 million."}},"sEODescription":{"value":"Longer-term strategies in managing European football clubs’ first teams can create an annual competitive advantage of between €100 million and €200 million."},"displayDate":{"jsonValue":{"value":"2024-02-28T00:00:00Z"}},"body":{"value":"[[audio 1]]\n[[DownloadsSidebar]]\n\n\u003cp\u003e\u003cstrong\u003eMost professional European football clubs\u003c/strong\u003e aim for sporting success for two reasons: first, sporting success is what matters to players, fans, and employees; and second, it is the basis of business success.\u003c/p\u003e\n\n\u003cp\u003eA team\u0026rsquo;s quality drives sporting success. A strong predictor of a team\u0026rsquo;s success at the end of the season\u0026mdash;and therefore its quality\u0026mdash;is the market value of the team at the start (Exhibit 1).[[footnote 1]] In the top five European leagues, for example, the club with the highest team value at the start of the season won its league\u0026rsquo;s title in three of four seasons over the past five years.\u003c/p\u003e\n\n[[exhibit 1]]\n\n\u003cp\u003ePrevious research shows that most increases in team value stem not from net investment into new players but from what we call \u0026ldquo;team value management\u0026rdquo; across three areas: development of first-team players, integration of youth players, and player-trading excellence.[[footnote 2]] The research also highlights the key characteristics of clubs that have created capabilities in at least one of the three areas, allowing them to outperform even clubs with higher budgets.\u003c/p\u003e\n\n\u003cp\u003eThese areas of team value management have increased in importance in recent years for two reasons. First, club revenues fell during the pandemic, eroding the overall financial situation of many clubs and limiting the budgets that clubs could allocate to their first teams. Second, additional financial regulations have placed constraints on clubs spending beyond their means. Combined, these two factors have helped boost the competitive advantage of clubs that can turn limited budgets into higher-quality teams versus competitors that are less cost-efficient. This is why clubs with sound sporting models, such as Real Sociedad in Spain and Atalanta BC in Italy, have climbed the ranks despite having lower first-team budgets compared with less successful competitors.[[footnote 3]]\u003c/p\u003e\n\n\u003ch2\u003eThe \u0026lsquo;value frontier\u0026rsquo; benchmark for value-oriented budget allocation\u003c/h2\u003e\n\n[[MostPopularArticles 5]]\n\n\u003cp\u003eThe value frontier defines the highest-quality team that can be run on a fixed budget\u0026mdash;and can help club management and owners understand whether their current budget is put to good use. We analyzed more than 100 professional clubs across Europe.[[footnote 4]] Our work covers four seasons, from the beginning of the 2017\u0026ndash;18 season to the end of the 2020\u0026ndash;21 season. The study seeks to address three questions:\u003c/p\u003e\n\n\u003cul\u003e\n\u003cli\u003eWhat is the budget needed to run first teams efficiently?\u003c/li\u003e\n\u003cli\u003eHow big is the competitive advantage that value-oriented budget management can create?\u003c/li\u003e\n\u003cli\u003eWhy do some budgets translate into highquality teams while others don\u0026rsquo;t?\u003c/li\u003e\n\u003c/ul\u003e\n\n\u003ch3\u003eValue-oriented budget allocation can create an advantage worth \u0026euro;200 million per year\u003c/h3\u003e\n\n\u003cp\u003eTotal first-team budgets are the sum of wages, net transfer investment, agent fees, and the changes in current players\u0026rsquo; market value.[[footnote 5]] How do these budgets relate to the quality of a team as approximated by a team\u0026rsquo;s market value? We looked at the relationship between budget and team value among the top (largest), midsize, and smaller clubs in our sample.[[footnote 6]]\u003c/p\u003e\n\n\u003cp\u003eAs one might expect, clubs with higher first-team budgets have, on average, better first teams; this relationship is demonstrated by the positive correlation we see in Exhibit 2. But comparing team quality and team budgets reveals two additional findings:\u003c/p\u003e\n\n\u003cul\u003e\n\u003cli\u003e\u003cem\u003eThe value frontier helps identify the budgets required to run teams in a value-oriented way.\u003c/em\u003e For example, in the 2020\u0026ndash;21 season, a cost-efficient club could run a team worth \u0026euro;600 million (similar to the market values of clubs such as Borussia Dortmund, Inter Milan, and Tottenham Hotspur) with an annual financial resource need (taking the balance sheet effect into account) of about \u0026euro;100 million.\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eThe analysis enables club leaders to estimate the potential gains of efficient team value management.\u003c/em\u003e The budget gap between first teams of similar quality at highly efficient clubs and at clubs that are lagging behind is huge: budgets differ by up to \u0026euro;200 million at top and midsize clubs and by up to \u0026euro;100 million at smaller clubs.\u003c/li\u003e\n\u003c/ul\u003e\n\n[[exhibit 2]]\n\n\u003cp\u003eAn important takeaway is that value-oriented first-team management allows clubs to systematically outperform rivals with bigger overall budgets. Indeed, in our sample of more than 100 clubs, some of the top 20 operate with lower total first-team budgets than a substantial share of those ranking in the mid-30s.\u003c/p\u003e\n\n\u003cp\u003eA look at the clubs close to the value frontier shows that budget efficiency is not tied to a specific league. The best-performing clubs (in terms of how their budgets translate into team value) compete in all the major leagues as well as in the smaller leagues (Exhibit 3). Budget efficiency is thus highly likely to be related to the quality of decision making within each club.\u003c/p\u003e\n\n[[exhibit 3]]\n\n[[pullquote 1]]\n\n\u003ch3\u003eDifferences in first-team budgets reflect how teams are built\u003c/h3\u003e\n\n\u003cp\u003eMore than 80 percent of the budget gap between more and less efficient clubs can be explained by how clubs assemble their first teams: clubs that can identify and develop players in-house have less need to upgrade team quality via net transfer investments (Exhibit 4). This need for external quality depends primarily on the ability of clubs to successfully integrate players from the academy, recruit promising young talent at an early stage, and develop players\u0026rsquo; potential.\u003c/p\u003e\n\n[[exhibit 4]]\n\n\u003cp\u003eImportantly, the wage difference between players of similar quality is not the primary reason for budget differences between clubs; it\u0026rsquo;s the consequence of different approaches to team composition. For example, clubs that systematically and successfully integrate young talent from their academies pay lower wages than clubs that rely on experienced players bought in externally.\u003c/p\u003e\n\n\u003ch2\u003eGetting as many decisions right as possible: A framework for competitive advantage\u003c/h2\u003e\n\n\u003cp\u003eWhile luck remains a large factor and operational excellence in day-to-day work is vital, translating budgets into quality teams also depends greatly on about 50 sport management decisions every year. These decisions relate to identifying, developing, signing, retaining, and releasing talent\u0026mdash;both players and technical staff. No club gets all 50 decisions right, but efforts to improve the decision-making quality within the sporting department can help clubs make fewer mistakes.\u003c/p\u003e\n\n\u003cp\u003eThere are many ways to improve decision quality across the three team value management areas: development of first-team players, integration of youth players, and player-trading excellence (Exhibit 5). In each of these areas, competitive advantage can originate from positioning, people, processes and tools, or structure.\u003c/p\u003e\n\n[[exhibit 5]]\n\n\u003cp\u003eFor example, better positioning could improve a club\u0026rsquo;s image, helping attract players. Competitive advantages can also be related to people with specific skills (such as the quality of coaches in the youth academy), established processes and tools (for instance, using a proprietary scouting database), or structural advantages (for example, a multiclub model that benefits from the synergies of multiclub cooperation). Of these, structural advantages make the most consistent impact on differentiating a club from others.\u003c/p\u003e\n\n\u003cp\u003eMost multiclub models are now moving from a phase of expanding portfolios toward a phase of optimizing clubs within the portfolio. Clearly defining and connecting the sporting models across the portfolio will be critical; in turn, doing so will put additional pressure on single clubs to maintain or strengthen their competitive positioning.\u003c/p\u003e\n\n[[pullquote 2]]\n\n\u003ch3\u003eDifferentiating competitive advantage: Examples from across Europe\u003c/h3\u003e\n\n\u003cp\u003eAn examination of European football clubs during the 2017\u0026ndash;18 to 2020\u0026ndash;21 seasons reveals a variety of team composition strategies across the three areas of team value management.\u003c/p\u003e\n\n\u003cul\u003e\n\u003cli\u003e\u003cem\u003eDevelopment of first-team players.\u003c/em\u003e RB Leipzig\u0026rsquo;s upgrade into one of the three most competitive Bundesliga clubs has more to do with how the club invests money than with the amount of money it invests. A high percentage of young, world-class talent in RB\u0026rsquo;s squad indicates that the majority of its first team\u0026rsquo;s value gains result from player development rather than from net transfer investment. Thereby, being part of a multiclub model also yields structural advantages in profiting from the player development on farm teams, talent pipeline management, and developing technical staff.\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eIntegration of youth players.\u003c/em\u003e Real Sociedad doubled its team value in five years and established itself in LaLiga\u0026rsquo;s top four. Strategic clarity and operational excellence in developing and integrating local youth players played a significant role in the club\u0026rsquo;s success; the club strives to source 60 percent of first-team members from the academy.\u003c/li\u003e\n\u003cli\u003e\u003cem\u003ePlayer-trading excellence.\u003c/em\u003e S.L. Benfica has remained among Europe\u0026rsquo;s top three clubs in creating player value, which translates into the largest transfer profits of all clubs over the past decade. This is enabled by a dense, countrywide scouting network; a focus on player development at the core of the club\u0026rsquo;s identity; and a trader mindset when acting in the transfer market.\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eCross-cutting.\u003c/em\u003e Liverpool FC offers an example of a club building a competitive advantage related to processes and tools across all three areas. By building capabilities in evaluating the performance and future potential of current and external players, Liverpool FC has been able to compete with teams with much larger budgets. This strategy is supported by a leading data science department and the development and rigorous use of analytical tools.\u003c/li\u003e\n\u003c/ul\u003e\n\n\u003chr /\u003e\n\n\u003cp\u003eRegardless of the strategy pursued, generating value through successful team composition requires a planning horizon of at least three years. Patience and continuity\u0026mdash;both on and off the pitch\u0026mdash;are therefore essential building blocks for increased cost efficiency and business success.\u003c/p\u003e\n\n\u003cp\u003eAs in many business sectors, immense pressure to demonstrate performance in the short term\u0026mdash;in the next game or the current season\u0026mdash;often leads to decisions that do not take longer-term effects into account. Clubs\u0026rsquo; top management teams would be well advised to develop coherent strategies to address the cost\u0026ndash;value equation and engage in longer-term planning. Success does not come overnight.\u003c/p\u003e"},"isFullScreenInteractive":{"boolValue":false},"hideStickySocialShareBar":{"boolValue":false},"desktopID":{"value":""},"mobileID":{"value":""},"desktopURL":{"value":""},"mobileURL":{"value":""},"desktopPaddingPercentage":{"value":""},"mobilePaddingPercentage":{"value":""},"desktopOverrideHeight":{"value":""},"mobileOverrideHeight":{"value":""},"cerosOembedURL":{"value":""},"cerosRenderMode":{"targetItem":null},"cerosBackgroundColor":{"targetItem":null},"hideByLine":{"boolValue":false},"tableOfContentsTitle":{"value":"TABLE OF CONTENTS"},"accessStatus":{"targetItem":{"key":{"value":"RegisteredUsers"},"value":{"value":"Registered Users"}}},"articleType":{"targetItem":{"displayName":"Article"}},"hasSpecialReport":{"boolValue":false},"contentType":{"targetItem":{"displayName":"Article"}},"sourcePublication":{"targetItem":null},"externalPublication":{"value":""},"mobileReady":{"boolValue":true},"forClientsOnly":{"boolValue":false},"excludeFromClientLink":{"boolValue":false},"originalPublishDate":{"jsonValue":{"value":"2024-02-28T00:00:00Z"}},"footnotes":{"value":"\u003col\u003e\n \u003cli\u003eHere, we are referring to the aggregate transfer value of the players in the team. Note that the value of an individual player varies over time according to several factors, such as their performance, age, and injuries.\u003c/li\u003e\n \u003cli\u003e\u0026ldquo;\u003ca href=\"/industries/consumer-packaged-goods/our-insights/the-value-pitch-the-importance-of-team-value-management\"\u003eThe value pitch: The importance of team value management\u003c/a\u003e,\u0026rdquo; McKinsey, September 3, 2020.\u003c/li\u003e\n \u003cli\u003eBased on their relative value increase compared with other teams in the league.\u003c/li\u003e\n \u003cli\u003eClubs that have played for at least three of the past four years in one of the top five leagues as well as clubs from the lower leagues that are frequent participants in UEFA Champions League competitions.\u003c/li\u003e\n \u003cli\u003eBy including the change in the financial value of players, our definition of \u0026ldquo;budget\u0026rdquo; aggregates annual cash flows and evaluation (balance sheet) effects.\u003c/li\u003e\n \u003cli\u003eThe top clubs are the 20 largest clubs by market value (more than \u0026euro;400 million at the end of season 2020\u0026ndash;21) that typically play in UEFA Champions League. Midsize clubs are the next 30 clubs by market value (approximately \u0026euro;200 million to \u0026euro;400 million at the end of season 2020\u0026ndash;21) that typically play in UEFA competitions. The base clubs are the 54 clubs with the lowest market value in our sample (less than \u0026euro;200 million market value at the end of season 2020\u0026ndash;21). These are either clubs from the top five leagues not playing in UEFA competitions or clubs from smaller leagues playing in UEFA competitions.\u003c/li\u003e\n\u003c/ol\u003e"},"contributoryPractice":{"targetItems":[{"displayName":"Technology, Media \u0026 Telecommunications"}]},"aboutTheAuthors":{"value":"\u003cp\u003e\u003cstrong\u003eSebastian Flegr\u003c/strong\u003e is a consultant in McKinsey\u0026rsquo;s Stuttgart office; \u003cstrong\u003e\u003ca href=\"/our-people/jorn-kupper\"\u003eJ\u0026ouml;rn K\u0026uuml;pper\u003c/a\u003e\u003c/strong\u003e is a senior partner in the Cologne office; and \u003cstrong\u003e\u003ca href=\"/our-people/tilman-tacke\"\u003eTilman Tacke\u003c/a\u003e\u003c/strong\u003e is a partner in the Madrid office. \u003cstrong\u003eOliver Bierhoff\u003c/strong\u003e is a former managing director of the German Football Association and a former professional football player.\u003c/p\u003e\n\n\u003cp\u003eThe authors wish to thank Fred Burdon, Marcelo Leal, Pedro Mendon\u0026ccedil;a, Tiago Palma, Moritz Schmude, Dan Singer, and Ben Vonwiller for their contributions to this article.\u003c/p\u003e"},"authors":{"targetItems":[{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"9D53896E49464B4AB568CBB184FF8581","name":"Oliver Bierhoff","authorTitle":{"value":"Oliver Bierhoff"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"B93AB562A13142D29138ABD900BB6B30","name":"Sebastian Flegr","authorTitle":{"value":"Sebastian Flegr"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"1FBD11ED328A4A33AB7CBFA8048E7867","name":"Jorn Kupper","authorTitle":{"value":"Jörn Küpper"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[{"standardImage":{"src":"/~/media/mckinsey/our people/jorn kupper/jorn-kupper_dsc_5632_profile_1536x1152.jpg","alt":"Jorn Kupper"},"emailLinks":{"value":"Jorn_Kupper@mckinsey.com, Elke_Mogler@mckinsey.com, yvonne_fahy@mckinsey.com"},"linkedInUrl":{"value":""},"description":{"value":"Leads our Western European Consumer Packaged Goods and Retail Practices, implementing winning strategies and supporting organizational structures for leading players in consumer industries"},"locations":{"targetItems":[{"name":"Cologne","displayName":"Cologne"}]},"firmTitle":{"value":"Senior Partner"},"thumbnailImage":{"alt":"Jorn Kupper","src":"/~/media/mckinsey/our people/jorn kupper/jorn-kupper_dsc_5632_profile_988x741.jpg"},"url":{"path":"/our-people/jorn-kupper"}}]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"CF5E78756A0A432FA15E3852775A928A","name":"Tilman Tacke","authorTitle":{"value":"Tilman Tacke"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[{"standardImage":{"src":"/~/media/mckinsey/our people/tilman tacke/tilman-tacke_alt_profile_1536x1152.jpg","alt":"Tilman Tacke"},"emailLinks":{"value":"Tilman_Tacke@mckinsey.com"},"linkedInUrl":{"value":""},"description":{"value":"Cares about economic growth that benefits people"},"locations":{"targetItems":[{"name":"Munich","displayName":"Munich"}]},"firmTitle":{"value":"McKinsey Global Institute Partner"},"thumbnailImage":{"alt":"Tilman Tacke","src":"/~/media/mckinsey/our people/tilman tacke/tilman-tacke_alt_profile_1536x1152.jpg"},"url":{"path":"/our-people/tilman-tacke"}}]}}]},"nonPartnerAuthors":{"targetItems":[]},"interactiveToUse":{"targetItem":null},"enableArticleComponents":{"boolValue":false},"relatedArticles":{"targetItems":[{"sourcePublication":{"targetItem":null},"publicationSource":null,"externalPublication":{"value":""},"title":{"value":"The value pitch: The importance of team value management"},"url":{"path":"/industries/consumer-packaged-goods/our-insights/the-value-pitch-the-importance-of-team-value-management"},"eyebrow":{"targetItem":{"name":"Article"}},"articleType":{"targetItem":{"name":"Article"}},"contentType":{"targetItem":{"name":"Article"}},"description":{"value":"Football is a business unlike any other. 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