This comprehensive new textbook presents the most rigorous, analytical treatment of the theory of professional team sports presently available. In the first part of the book, Stefan Kesenne explores the special characteristics of the industry, analysing the product and player labour market under both the profit- and win-maximisation hypothesis. He then goes on to investigate the impact of different league regulations such as the transfer system, revenue sharing arrangements and salary caps. "The Economic Theory of Professional Team Sports" will undoubtedly become a classic in the field which every student, lecturer and researcher of the economics of sport will want on their shelves.