The oldest football magazine is....

If we define a Football Magazine (as opposed to a Football Newspaper) as having the following characteristics:

The content is exclusively about football.
It is not a comic aimed at children or teenagers.
It is available to the mass market not a footballing sub group of the game.
It is published periodically (weekly or monthly not daily.)
It is printed on better quality paper than newspaper stock.

Based on these subjective definitions this creates the following judgements:

"Football" which ran from 4 October 1882 till 11 April 1883, ultimately incorporating with "Pastime".

Oldest European Football Newspaper (and still running): La Gazzetta dello Sport in 1896- Italian

Oldest British Magazine for a footballing subgroup: Football Players Magazine-Official Journal of the Association Football Players Union in 1911. (Forerunner of the PFA)

Oldest Worldwide "Glossy " Football Magazine: Charles Buchans Football Monthly in 1951.

Oldest British "Glossy " Football Magazine: Charles Buchans Football Monthly in 1951.

Britains oldest Football Weekly Magazine:Raich Carter's Soccer Star.

Britains oldest "Glossy" Football Weekly Magazine:Jimmy Hill's Football Weekly.

Oldest British Football Magazine still running: World Soccer since 1960.

Oldest European Football Magazine still running: France Football 1946 (started as a newspaper and is now a magazine)

Oldest Worldwide Football Magazine still running: El Grafico in 1919- Argentinian.(started as a newspaper and is now a magazine celebrating it's 90th anniversary)

Oldest British Football comic: The Scorcher in 1970.
Oldest football specific "Boys Paper":The Boys Realm's Football Library" in 1909.
(Before "Comics" there was "Boys Papers" and according to Adam Riches in his excellent book "Football's Comic Book Heroes" the first exclusively football Boys paper was "The Boys Realm's Football Library". )