by Aiden Daries
The global pandemic faced by the world today, poses a serious threat to the football transfer market.
The football world is longing for the beautiful game to return, but with the continuation of lockdowns around the world, this is not going to become a reality just yet. Many fans are, however, eagerly awaiting the opening of the transfer market, but many experts predict the collapse of the market as a result of the pandemic.
Many footballers are taking a pay cut from their wages in order to help their clubs. This is especially beneficial for the lower tier sides who will be in serious economic and financial struggle as a result of the global pandemic.
The pandemic will cause serious problems in finances for many clubs around the world, and the paying of wages and buying of players will be an impediment for the footballing outfits.
The world’s most expensive footballer at the moment is 21 year-old, Kylian Mbappé, who was bought by French outfit, Paris Saint Germain, for around £180 million.
The reality of this amount of money being spent on another player has passed, according to former FC Bayern Munich president, Uli Hoeness, who stated, “You can't dictate it, but transfer fees in excess of £100 million will be a thing of the past for the next few years”.
The gigantic clubs, financially, such as the likes of Paris Saint Germain, Manchester City and Manchester United look to have an ‘advantage’ and are in a strong position when it comes to the transfer market.
[ABOVE: The world’s most expensive player, Kylian Mbappé, being presented after signing for Paris Saint Germain.]
The wealthy owners of these sides will surely be pumping money into their respective clubs and even a mediocre amount of money in today’s market will see them get their man. These clubs will certainly be looking to take advantage of a deflated transfer market.
Certain clubs will have to give in to these super clubs’ demands as they will be desperate for the money as a result of the debt they have accumulated.
Keiran Maguire, football finance author, stated that the transfer window could possibly involve clubs paying instalments rather than money upfront.
Other than transfer fees, many clubs have outstanding finances to pay and the pandemic will seriously hamper their efforts to pay these off. Experts say nearly all Premier League clubs have some sort of figure that they owe.
Many clubs owe money to television stations for broadcasting rights as well. There are many factors that could cause a complete collapse of the transfer market as we know it.
The recent news coming out about the Newcastle United takeover will cause a shock in the football world. The new owners, Saudi Arabia’s Public Investment Fund, is reportedly worth £260 billion and has more than enough finances to not only attract but purchase players during the transfer market.
Experts are going as far as to say that the transfer market will even be suspended until clubs get back on their feet.
One thing we do know however, is that the exorbitant amounts of money being paid for players is in the past. A new normal is about to commence in football; a return to the former days are on the horizon.