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Having possession of the ball can contribute in fatiguing your opponents. The longer you have the ball and play it around the park, the opposition, if trying to gain possession, will slowly but surely take a toll on the opponents.
Another great thing about having good possession numbers and maybe mostly important depending on who's opinion, is how much it can frustrate the opposition. Frustrating your opponents can lead to them making key mistakes through tired thinking. Players may choose to get stuck in attempting to win the ball back but that can leave gaps and space if the tackle is mis-timed. Or an attacking players movement can drag an opponent defender out of position because the defence chose to follow the play rather than stick with his tactical discipline.
And of course, there is more than one type possession tactical style. Some coaches/manager prefer to go for strict possession football rather than taking a more aggressive and direct approach to possession like I have with this tactic. While high possession numbers are important and indicate how well your side could be holding possession, the main purpose has to be to keep the opposing defence on its heels and that requires high concentration from the opponents.
You’ve probably noticed that great possession teams generally great team chemistry. In training, it's key your players are well drilled in training to understand each others movements and your possession strategies. Players know when their teammates are going to make runs, and it also helps to form an understanding when you are out possession trying to win the ball back to be in possession. Therefore, counter-pressing and pressing intensity becomes important. Not that these have to be at extreme levels but the aim is for your team to be on the ball as quick as you can be in order to be in possession. Possession based teams believe the longer you have control of the ball, the harder it becomes for your opponents to score a goal.
This tactic is shaped 4-4-1-1 with two playmakers, the Advanced Playmaker being the more creative one for scoring goals.