Coronavirus football transfer market to lose € 10 billion

US, WASHINGTON (ORDO NEWS) — The best European football clubs are going to cut costs amid the coronavirus pandemic. As a result, the market for soccer transfers risks sagging by € 10 billion, the Financial Times estimates. The publication explains that they will save, among other things, on the purchase of new players: in the conditions of the global crisis, they will clearly become cheaper.

Actually, the process has already begun, according to the consulting company KPMG, which analyzed the situation in the clubs of the Old World. At the same time, experts note that the previous few years were marked by a steady increase in price tags. Especially in the English Premier League, the Spanish La Liga and the German Bundesliga. However, football matches around the world are now on hold and it is time to cut back on spending.

“I cannot but note that speculations around the transfers of individual players for hundreds of millions of pounds this summer seem to ignore the realities that the sport faces,” said Manchester United Executive Vice President Ed Woodward, urging partners to “moderate” at a recent meeting expectations.”

KPMG analysis shows that the value of some players regularly mentioned as potential targets for major clubs, such as Jadon Sancho from Borussia Dortmund and Harry Kane from Tottenham Hotspur, fell 16% to EUR 127 million and 112 million pounds respectively.

Most European leagues plan to return to at least some actions in the coming weeks after the relaxation of restrictions: teams are ready to play in empty stadiums so as not to lose beneficial broadcast rights. However, the football authorities of France, the Netherlands and Scotland completely canceled their seasons.

The summer transfer window – a three-month period when teams can attract players – was supposed to open on July 1, but FIFA wants to push the deadline until August, that is, before the end of the domestic seasons. However, analysts are sure that this will do little to help the seriously affected market.

Last summer, the Big Five European league clubs in England, Germany, Spain, Italy and France, according to Deloitte, spent a record € 5.5 billion, which is € 900 million more than in 2018.

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