Valuation of professional athletes: theoretical and methodological approaches

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PhD, Associate Professor O.Yu. Kuzmina1
Dr. Sc.Econ., Professor M.E. Konovalova1
Dr. Sc.Econ., Professor L.N. Safiullin2
Postgraduate student B.L. Safiullin3
Postgraduate student M.R.M. Alksso2
1Samara State University of Economics, Samara
2Kazan (Volga Region) Federal University, Kazan
3Center of Advanced Economic Research Academy of Sciences of the Republic of Tatarstan, Kazan

Objective of the study was to assess the epistemological potential of economic concepts in the context of determining the value of a professional athlete, taking into account the current institutional conditions for the development of market relations in sports.
Methods and structure of the study. The scientific work is based on a cumulative approach, which is based on the ideas of logical positivism. A logical analysis of the pricing of professional athletes took place through the methodological prism of various directions of economic thought, taking into account the criterion of compliance of theoretical developments with modern conditions of socio-economic development of the sports sector.
Results and conclusions. The key factors determining the process of commercialization of sports and its intensification over time have been identified. Various variations of the theory of value are considered, and the degree of their application for the analysis of cost relations in the labor market of professional athletes is assessed. The study found that the epistemological potential of cost concepts describing the rent-oriented behavior of market participants most fully reflects the current practice of pricing in professional sports. A professional athlete is viewed as a capital asset, the value of which is directly determined by the investment expectations of employers regarding the future stream of income generated by the athlete, which must be taken into account in the process of effective management of sports activities.

Keywords: professional sports, commercialization of sports, valuation, rent, rent-seeking behavior.

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