What you're suggesting is player management, i.e. manage the life of one chosen player, not managing the destiny of your favourite club. Wouldn't be successful imo as only few people would only want to manage the life of one player.
Manager games work very well on a club level though and while I don't play them anymore today I had a lot of fun with football manager games in the past (Bundesliga Manager, Anstoß, Hattrick, Fußball Manager aka FIFA Manager).
Transfer market, team and player morale system, detailed contract negotiation, improving player skills, press interviews, keep players motivated during a match (halftime speech) as well as between matches, player punishment, individual training and financial micromanagement (how to earn your club more money with yearly sponsor negotiations, adjusting ticket prices for every single match and spend the money on e.g. stadium improvements, national and international scouting, training facilites, medical department) are features that have been included, refined, removed and re-included in football managers over the past 20 years.
Latest example: http://www.youtube.com/watch?v=i2JEdzEbIoE
