The shifting economics of Swedish football
In Swedish football, the traditional lane to financial strength has long run through Europe. As Mjällby edges toward a possible Allsvenskan title, a gathering of clubs clings to one of the two remaining European spots, but the question lingers: is Europe really what they want, and is a top-three finish always the best path to glory?
The scene is less clear-cut than it was a decade ago. Back then, the only dependable route to big money involved a sustained run in European cups or landing a blockbuster sale. Today, the equation has shifted. It is not simply about qualifying for Europe; it is about the cost of that journey and the opportunity cost of chasing it year after year.
Adundant risk or a chance to optimize?
Anders Torstensson, Mjällby’s soon-to-be head coach when we spoke in Sölvesborg, put the issue bluntly: “Overlever man inte några omgångar, it’s effectively a zero-sum game.” In plain terms, clubs risks overextending themselves if their Europa campaign collapses early. The trap is familiar: you build a broader squad for Europe, incur higher costs, and if the journey ends quickly, you are left selling players to balance the books.
Even when a club does reach the group stage—a level that Malmö, Elfsborg, and Djurgården reached in recent seasons—the existential drag on the league campaign can be heavy. Injuries, a stretched squad, and the need to compete on two fronts can derail domestic form, turning a potential windfall into a competition that saps energy and finances.
Mjällby’s counterexample: patient, targeted growth
Mjällby offers a telling counterpoint. The club’s path to a stronger financial footing has not hinged on Europe but on disciplined, patient work and smart asset management. A crucial move was selling two young talents in 2023—Otto and Noah Persson—for substantial sums, a decision framed by the club’s leadership as a turning point. The club reportedly received around 30 million kronor when players moved to Malmö FF and Young Boys, money that underpinned sustainable investments rather than speculative splurges.
Noah Persson’s return to Swedish football with Hammarby next season underscores a broader trend: the value of a robust academy and a careful balance between developing players for the first team and selling them while they retain peak sale value. This model is increasingly seen as a smarter long-term play than chasing paydays in far-flung European campaigns that can disrupt the domestic program.
Hammarby’s “truppvärde” playbook: value before vanity
Hammarby, under a strategy often described as building truppvärde, has pushed this logic to the forefront. The idea is to identify and nurture talent that can be sold at a premium while still delivering results on the pitch. In practical terms, you end up with a squad that is leaner, sharper, and more financially resilient—capable of competing at a high level in Allsvenskan and ready to cash in when a bigger club comes calling.
That approach has helped the club reach a new financial equilibrium, lifting the stakes for every transfer window. However, it also raises questions about the cost of ambition: does a club sacrifice a longer European campaign in pursuit of domestic stability and the ability to reinvest in youth and infrastructure?
The leadership view: a long horizon for 2026
Industry voices inside the Swedish game have argued that 2026 could be a pivotal year for the Allsvenskan. The calendar is about to become more compressed, with a long mid-season break expected for the World Cup year, and the challenge of balancing league play with European ambitions will intensify. A misstep in the Europa chase this autumn could, paradoxically, open up significant Allsvenskan opportunities in 2026 as clubs recalibrate their squads and finances for a tighter schedule.
Jesper Jansson’s current reflections—now at IFK Göteborg after previous stints with Hammarby—echo a broader sentiment: Europe remains valuable, but it should not come at the cost of winning games today. The real prize is sustainable success, and the path to that prize may lie as much in selling talent wisely as in chasing a prestige that could prove costly if misplaced.
Bottom line: a reality check for the chase
In the changing Swedish football landscape, the chase for Europe is not a simple ladder to riches. For some clubs, a strong league finish and a smart player-valuation model may deliver better, longer-lasting rewards than a short European run. And for others—the ones who learn to balance both worlds—the 2026 horizon could deliver a golden harvest, not just in trophies but in the financial health of the club itself.
