We’ve come to expect it from the likes of Roman Abramovich, the Russian business tycoon and owner of Chelsea soccer club. But few people expect the average cash-strapped European to pour money into a game of soccer to see little or no return on their investment. Besides victory and glory, that is.
Yet a new study by Dutch bank ING shows a third of Europeans would sacrifice money in return for the glory of their team winning the UEFA European Football Championship this summer.
“Thirty-three percent of the 16,000 people aged 18 and above polled by ING would give up 297 euros ($368) on average to see their team win the coveted football trophy," the study said.
ING, which sponsors the Dutch national soccer team, surveyed 1,000 people in each of the 16 qualifying countries.
“Football exposes some fascinating economics lessons. Importantly, football can highlight strengths and weaknesses in the way people make decisions. We can, in turn, apply these to our lives, including the way we save, invest and manage money,” ING senior economist Ian Bright said in the report.
Respondents in peripheral European countries – which have been accused of being profligate spenders – were willing to spend the most in return for a victory.
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