How Olympiacos Cultivates Financial Success: A dive into youth programs
Olympiakos is a successful basketball club in Greece with a unique business strategy that prioritizes the development of young talent. The club has a solid youth program that allows them to identify and develop young players who have the potential to become future Olympiacos stars.
Additionally, the development of home-grown talent has allowed the club to develop a loyal fan base. Fans are more likely to identify with the club when they see young local players becoming stars at Olympiacos. This approach helps to create a strong team culture and unique identity for the club, which can translate into financial success.
Overall, Olympiacos' focus on youth development has proven successful, allowing the club to remain competitive in the EuroLeague while also cultivating a strong financial foundation. The club's business strategy enables them to operate with a long-term perspective, prioritizing sustainable financial success and building a loyal fanbase. By continuing to develop young talent, Olympiacos can maintain its competitive edge while remaining financially responsible.
Learn more about the development program here:
https://www.youtube.com/watch?v=M8lY3hlhFEY
https://www.olympiacosbc.gr/en/the-academy-en/academy-news/1575-maybe-you-are-the-next-star-of-the-team.html
I found this topic super interesting, I never would have thought of this strategy. It does make sense though, they won't have to pay as much to outsource their talent because they hope to develop their youth into talented players that will remain loyal to where they started. How long have they been taking this approach?
ReplyDeleteThis is super interesting and such a unique appraoch to talent attraction! Youth talent development is truly the future in so many aspects of life, and it´s awesome to see it be incorporated in not only athletics, but also financially. However, it does make me wonder, does this type of talens attraction ever put the team at a disadvantage in the present?
ReplyDeleteThis topic is really interesting and Fenerbahce actually does something very similar, but they target to lower-income students. I am curious to know if this youth program that Olympiacos does targets to a specific group of people as well?
ReplyDeleteI believe Olympiacos are very smart to focus so heavily on developing young talent. By being focused specifically on young Greek players they can create a sense of pride in both their players and their supporters, this will allow them to draw in Greek sponsorships and a large amount of support from local basketball fans.
ReplyDeleteI feel like this model of investing heavily in development of the youth academy is a great standard for developing a strong fan base in the EuroLeague. In most American sports people love to follow players through their youth all the way to the professional leagues. If Olympiacos continues to do this I believe they will be prepared for long term success in the EuroLeague, have one of the strongest fanbases, some of the best team chemistry, and have some of the most loyal players as well.
ReplyDeletePrecisely. This is a great way to keep fans engaged and loyal to the team.
DeleteI find this system very innovative and smart for a team who's ownership model is non profit. This allows the internal development of players which hopefully will save money in the future! One thing I am curious about is what % of youth players actually find success within the Euro League.
ReplyDeleteIt is hard to provide exact statistics to your question. Although a large number of players are able to find success whether it be with Olympiacos or with another team.
DeleteIt's great to see a basketball club prioritize youth development as part of their business strategy. Olympiacos' focus on developing young talent is a smart approach that not only benefits the team's on-pitch performance but also their financial success. By investing in youth development, the club can maintain a high level of competitiveness while avoiding overspending on high-priced talent. This approach also helps to create a unique identity for the club, which can lead to a loyal fanbase and strong team culture. It's clear that Olympiacos' business strategy has proven successful, and I hope that more basketball clubs follow their lead in prioritizing sustainable financial success and youth development.
ReplyDeleteI have mentioned this in other posts, but the development of young players is crucial to the success for most of these teams. It is the same story for say my favorite baseball team, the Reds, because they can't compete financially with most teams. Of course, when the players you spend time and money on don't pan out, it ruins the entire plan. Thus, it is a risky game kind of like betting on these players to work out.
ReplyDeleteThe primary difference between this model and the MLB is the all in approach due to the lack of a draft. This means that teams are looking out for their roster 5+ years in advance.
DeleteI really like the youth model among European sports clubs. I think that American teams should begin to implement this model because it better caters to young talent and development of that talent.
ReplyDelete(IN RESPONSE TO NUMEROUS COMMENTS) Thank you all for the great questions and comments. Here is a little bit more information for you guys to better understand the teams strategy. Olympiacos has been committed to developing young talent for a long time, but more recently have they gone almost all in. This approach has proven to be successful, allowing the club to remain competitive in the EuroLeague while investing in their future as well as their fanbase. They are able to attract lots of local talent to their team which creates greater fan engagement within the area.
ReplyDelete