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Investing Rather Than Cheering: Is Football a Good Investment?

No other sport has the power to stir emotions quite like football.

It is the most popular sport in the world, ignites national passions, and brings people together through a great match.
At the same time, football is a massive business. Over four years (2019–2022), FIFA — the international governing body that organizes and promotes all major tournaments — generated a record total revenue of 6.8 billion Swiss francs (7.568 billion US dollars).
In 2023 alone, revenues reached several hundred million francs (483 million US dollars). While this was significantly less than in 2022, the year of the last World Cup, it still marked an increase compared to other non-World Cup years (see the chart on Statista).

The majority of revenue comes from broadcasting rights.
In addition to FIFA, there are other major earners in the football industry — for example, large clubs like Manchester United, some of which are publicly traded, as well as players, infrastructure providers, media rights holders, and the sports industry as a whole.

Football is the most popular game in the world and reaches a massive audience, with no signs of slowing down. So, does football work as an investment? I was curious about the possibilities, opportunities, and risks. That led me to do some research — here are a few facts and thoughts on the topic.

So kannst du in Fussball investieren

There are various ways to invest in football — from buying shares in publicly traded clubs, to bonds and direct ownership stakes, and even a few structured products.
 

Here are some options for how you could invest:

01

Aktien von börsennotierten Fussballvereinen kaufen

Several clubs are publicly traded, with the most prominent example being Manchester United, which — with a market capitalization of around 2.5 billion Swiss francs — is considered the most valuable football club in the world. Other clubs listed on the stock exchange include Ajax Amsterdam, Juventus Turin, Borussia Dortmund, and Celtic Glasgow, to name just a few.

Looking at the returns of these stocks, the picture is quite mixed.
Some clubs — like Benfica Lisbon (+103.11%) or FC Porto (+77.41%) — would have delivered solid returns over ten years, while others, like Borussia Dortmund (–38.10%), did not. You can find a complete list, including a performance comparison, on MoneyLand.

You buy shares of a publicly listed football club just like any other stock, for example through a broker platform.
For clubs that are not publicly traded, direct ownership is another option — though this is generally only attractive for wealthy private equity investors, unless the club offers fan shares or fan tokens.

Some clubs also issue bonds, which can offer an attractive interest rate but also carry a high risk of default, for example if the club goes bankrupt.

02

ETFs, strukturierte Produkte und Anleihen

There are no ETFs specifically for football clubs anymore; for example, the Stoxx Europe Football Index, which included all publicly traded European clubs, was discontinued in 2020.
You can find football club shares included in broader sports ETFs, which mainly invest in sports equipment manufacturers, sponsors, or gaming and e-sports companies — for example, the VanEck Video Gaming and eSports UCITS ETF (ISIN: IE00BYWQWR46), which, according to justetf.com, has returned about +108.48% over five years (as of July 2025).

There are also newer products in the form of certificates, which focus mainly on infrastructure. One example is the “Football Fever” certificate from Swissquote, which invests in companies that should benefit from the football boom, representing a mix of firms in gastronomy, football clubs, sports companies, and companies with broadcasting rights. Among the largest holdings are companies like Heineken, Borussia Dortmund, Coca-Cola, FedEx, Electronic Arts, and others. Since its launch in 2018, it has returned +45.2%, compared to the MSCI World Index, which gained +76.11% over the same period (source: Swissquote factsheet, period 2018–Dec 2023). Details: ISIN CH0385845695.

 

03

Chancen und Risiken einer Anlage in Fussball

Football is the number one sport, and with growing interest in regions like Asia and the USA, the football fever and its potential don’t seem to be exhausted yet. With an investment, you can participate in this development. However, the investment also carries significant risks:

  • Success is neither predictable nor guaranteed, as many players operate by their own rules and the value depends on sporting events.
  • Shares in clubs, for example, are subject to high volatility.
  • Returns may not materialize as hoped, or can even be negative.
  • Direct ownership in a club lacks diversification.
  • Lack of transparency: the entire industry repeatedly struggles with opacity, scandals, and speculation.
  • Currency risk, especially since no Swiss clubs are currently publicly traded.
  • Liquidity for trading: football stocks are generally less liquid than companies in the entertainment sector, as fans often buy shares to hold them.
  • Structured products allow broader participation, but do they outperform a conventional investment, such as a broadly diversified global index?

Etwas unkonventionellere Ideen, um vom Fussballfieber zu profitieren

To conclude, here are some unconventional ideas for those who might want to speculate:

Next Men's World Cup 2026

Football as a sport is highly unpredictable. Wins, transfers, injuries — everything can affect performance. The biggest hype, and also the largest revenues for FIFA, always happen around major tournaments, especially the World Cup. In 2026, the World Cup will take place in the USA, Canada, and Mexico, where football fever is already slowly spreading. For those looking to speculate, investments with a geographic focus — for example, in infrastructure — could be interesting.

What About Women's Football?

Women’s football is considered the fastest-growing sport of all. This year’s Women’s Euro, held in Switzerland, is expected to break records in ticket sales, TV audiences, and prize money. According to forecasts, the fan base of European women’s football is expected to grow by 2.3 times by 2033. The FIFA Women’s World Cup 2023 saw record attendance, ticket sales, and, according to FIFA, over 2 billion viewers worldwide.

 

Gaming and E-Sports

According to forecasts, the esports market is expected to continue its boom. In 2024, the global esports market revenue is projected to reach 3.8 billion Swiss francs (4 billion euros), with the largest contribution coming from esports betting. By 2028, the market volume is expected to grow to 5.13 billion Swiss francs (5.3 billion euros), representing an annual revenue growth rate of about 7.29% (CAGR 2024–2028). The greatest growth is expected in the USA, but Asia, Germany, and France are also key regions (source: Statista). However, there has been some confusion around football games since the contract between Electronic Arts and FIFA for the football game ended.

My conclusion

As you can see, there are many ways to invest alongside just cheering. However, these investments are very unpredictable and rather speculative. Therefore, you should only invest out of great passion as a fan or with amounts you are prepared to lose. As for me, I’ll remain a casual fan.
 

What about you — do you prefer to cheer along or would you consider investing as well?

 

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