Game-Changing Research: How One Honors Thesis Illuminated the Value of Women's Soccer

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Benjamin Luckner ‘25 graduated from Commonwealth Honors College, holding a B.S. in Sport Management, and spent much of his academic career learning about corporate finance, quantitative modeling, and market analysis. He also worked with the Amherst Survival Center and GRACE (Giving & Receiving Assistance for our Community's Essentials), which is based in his hometown of Summit, New Jersey.

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Benjamin Luckner '25

During Luckner’s sophomore year, he took Sport Data Analytics with Professor David Tyler, and the two formed a connection that later led to Professor Tyler co-advising Luckner’s thesis project, Land of the Blind: An Analysis of the Investment Landscape for International Women's Professional Soccer. Luckner was also co-advised by Professor Brett Albert of the Isenberg Sport Management department.  

After conversations with both thesis advisors, Luckner felt inspired to research the emergence of women’s sports, specifically the National Women’s Soccer League in the U.S. His work initially began as an exploration of rising team values in women’s soccer, but eventually became an in-depth investigation into the finances of the world’s largest teams.

"The reason that I did the thesis in the first place was because I felt that soccer and sports as a whole are a really interesting space for investment as an emerging market with a huge consumer base. I also figured that not a lot of people really understood the value in sports, or they see it just purely as entertainment, but it is more than that, and I felt that more research needed to be done, especially in the women's space."

Luckner completed his thesis as part of an independent study and found the research to be stimulating. He noted that it gave him the space to grow professionally. He also noted that while initially not accepted into the Honors College after high school, he made the intentional step to apply before his sophomore year. 

"This [the thesis] was part of my plan of what I wanted to get out of my UMass degree. The Honors College was a really intentional step in that, and the thesis was the crux of why I wanted to do it. I think I got exactly what I was looking for."

Publishing the research

Once Luckner had completed his thesis during the spring of his senior year, he worked with the McCormack Department of Sport Management Public Relations team to find outlets that could publish his work. "We shopped around a few outlets, but the Sports Business Journal came to us and was really interested in the research." Luckner shared that he had to condense his 130-page thesis to a 900-word opinion editorial for the publication. He focused on the Chelsea FC Women’s team as he felt it was "one of the most interesting case studies that I’ve seen in sports."

Luckner also spoke of his involvement in the Minuteman International Equity Fund (MIEF), which he founded. He worked closely with Mason LaPlante ‘25 and Timothie Hsiao ‘26, whom he credits with supporting him through his thesis.

"They helped me by looking over my work and poring over financial statements. There were a lot of late nights in Isenberg with them and without their help and the support of everyone else, and the things I learned through MIEF, I don’t think I would have reached such impactful conclusions."

Presenting his work

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Luckner presenting his research at MassURC 2025

Luckner also presented his research at the Massachusetts Undergraduate Research Conference (MassURC). He explained that before the conference, his goal was to explain sports finance in a way that’s digestible to people and wanted to get those in attendance to take an emotional stake in what he had to say. Unsurprisingly, Luckner was successful in his goal. 

"While we're making a data-driven argument, so much of it relies on emotion because that's what sport is, right? It's caring, and it's a really sticky emotional consumer space to be in."

Overall, Luckner expressed that MassURC was a unique way to get a trial run on presenting his research and a way to receive good feedback. Luckner was also able to present his thesis findings in Professor Albert’s sport economics graduate class. 

Where Luckner is post-graduation

After graduating from UMass in May, Luckner began working as a financial analyst for Sports Business Associates. In the years to come, he plans to attend business school to continue his education, but is using this time to study for the Graduate Management Admission Test (GMAT).