business school cases, news reports, and books about Real Madrid and other relevant teams. The purpose of going beyond what Real Madrid provided was to gain a broader picture and challenge, support, and illuminate my data, analysis, and conclusions.
It is not my intent to glorify or vilify any individual, group, or era, although I suspect parts will be interpreted or used to do so. I’ve tried not to be influenced by nostalgia, and I have tried to recognize that people I interviewed were looking back in hindsight and may have had agendas or other issues, something I tried to overcome by speaking to many different sources and balancing the interview data with other information and analysis. I’ve tried not to be affected by people’s passion for Real Madrid, their own favorite and rival soccer teams, the sport of soccer and sports generally, or recent events having too much weight simply because they are fresher in our minds. I have relied on publicly available data to confirm and disprove various claims and theories advanced by those I interviewed.
My primary reasons for writing this book were intellectual curiosity and academic contribution. Any money that I have received, or will receive, for writing the book from the publisher has been, and will be, donated to charity. I did not receive any compensation whatsoever from Real Madrid. For example, I did not ask for or receive one ticket to a game, nor did I ask for or receive a single player’s photograph or autograph. Before publication, as a matter of professional courtesy, I did show drafts of parts of the book to Real Madrid, as well as a few other teams and leagues mentioned, to see if any material facts were incorrect or misrepresented. However, Real Madrid was not involved in the editorial or analytical process and did not approve or authorize this book. Any mistakes and all of the judgments, conclusions, and analyses are my own.
The book is written in American-sports English primarily to make it easier to understand for most American readers. Therefore, I use American terms, such as soccer for football, team for club (except when referencing Real Madrid, the club, or other teams that are actually member-owned clubs), field for pitch, game for match, locker room for dressing room, jersey for shirt, cleats for boots, uniform for kit, speed for pace, etc. I sincerely apologize in advance if this causes any annoyance or confusion for non-American readers. In addition, I try to convert amounts of money discussed in the book to US dollars using the average exchange rate for the year.
There are sidebars at the end and throughout most of the sections. The sidebars are related topics that don’t fit the narrative on Real Madrid but shed light on the topic discussed in the chapter. Often the sidebars relate to American sports examples or an analysis of data or academic theories in order to illuminate an idea or help readers better understand the discussion.
Writing a book is a lengthy process—as well as is editing it, translating it, designing it, producing it, and marketing it. In order to have the book published in English and Spanish at the same time, which I felt was important, and to come out by a certain date, I had to submit my final draft to the publisher before the conclusion of the 2015–16 Real Madrid season. Therefore, the book does not reflect the entire season, but the data does include that Real Madrid won their eleventh Champions League trophy, La Undécima, in Milan, Italy, on May 28, 2016.
Lastly, I anticipate that I will take criticism from many sides. Many people have very passionate opinions regarding Real Madrid, their own favorite and rival soccer teams, the sport of soccer, and sports generally. The passion is so great that even respected scholars sometimes seem to put aside objective or critical thinking when it comes to the topic. When I interviewed people, I discovered many of their opinions are based on experience or gut feelings or simply what they have read or heard in the media, rather than facts or data. I am not sure they realize it, but some of their opinions have both strong and subtle biases, sympathies, and prejudices, and sometimes motivations. I know I have some, too, but I take the steps of challenging them as best I can, as described in my methodology. I do think approaching this study essentially as an outsider without preconceived history, loyalty, or family ties to an European soccer team, not having really lived in Spain or Europe for a long time (but having spent enough time in Spain and Europe to understand some important nuances), and having limited experience-bias does help produce fresh and original ideas and research.7
La Undécima. A photo of the players and coach lifting the 2016 UEFA Champions League trophy in Milan on June 28, 2016, after defeating Atlético Madrid. It is Real Madrid’s eleventh European Cup. After extra time, the final finished with the score still tied 1-1, and Real Madrid won 5-3 in a penalty shootout. Lucas Vázquez, Marcelo, Bale, and Ramos scored their penalty kicks. Cristiano Ronaldo scored the decisive penalty kick after an Atlético Madrid player missed his. Sergio Ramos, the team’s captain who also scored Real Madrid’s goal, is seen lifting the trophy. The coach, Zinedine Zidane, is dressed in a suit and tie.
As you read the book, keep in mind that I am using my best efforts to draw on my academic training and to shed light on a fascinating topic via a scholarly framework. Readers may agree or disagree or even feel like other aspects should be mentioned or examined further. I genuinely welcome constructive feedback. As an academic and curious person, I am always learning and trying to get to the most reasonable conclusion.
If you have any thoughts or comments about the book, please feel free to email me at my Columbia Business School email: [email protected]. I can’t promise that I will respond to every message, but I can promise you that I will read each one.
1 A.T. Kearney White Paper, The Sports Market.
2 Fabio López, a successful asset manager from Madrid that married a close family friend and then became a close friend himself, had set up the 2014 meeting with Carlos. Fabio knows Carlos because Fabio’s father, Pedro López Jímenez, is on the board of directors of Real Madrid. I am an adjunct professor at Columbia Business School, after having worked in finance for more than twenty years. Fabio and Pedro thought Carlos and I would enjoy speaking together and that Carlos would be a great guest speaker for a popular Columbia University Business School class that I teach in Madrid for one week each January.
3 The Union of European Football Associations (UEFA) is the administrative body for association football (soccer) in Europe and organizes the competition. It is one of six continental confederations of the world soccer’s governing body, Féderation Internationale de Football Association (FIFA).
4 I remember first hearing the word or idea of “galácticos” a few days after my seventh birthday in May 1977 when my soccer-loving father, who had immigrated to the United States from Greece, took my older brother Dean and me to Chicago’s Soldier Field to watch a North American Soccer League game between the Chicago Sting and the New York Cosmos with its star “galácticos” players: Brazilians Pelé, Carlos Alberto, and German Franz Beckenbauer.
5 My family and I had moved from New York to Madrid for approximately six months in 2013 to immerse ourselves in Spanish culture and improve our Spanish. While living in Madrid, we attended one Real Madrid regular season game together. I am a very enthusiastic fan of the city of Madrid, its people, and its culture, but no one would call me a hard-core Real Madrid fan. I don’t own any Real Madrid merchandise. I am equally delighted to see Real Madrid, Atlético Madrid, Getafe, or Rayo Vallecano win because my friends in Madrid typically root for one of the local teams.
6 Billy Beane is an advisor to Dutch professional soccer team AZ Alkmaar. He also is a part owner in MLS’s San Jose Earthquakes but does not advise the team.
7 In a 2014 interview with Sean Ingle of the Guardian, Billy Beane said, “I’ve got brilliant staff . . . One of my right-hand guys . . . has a PhD in behavioral economics from the University of California, Berkeley. He never played much baseball. Isn’t that a disadvantage? It would be hard to imagine many English clubs doing the same . . . but he has no experience-bias when he comes to my office, so he is able to question the obvious . . . A guy like myself, who has been in the game his entire life, may not be able to spot when the emperor