Despite the COVID-19 financial crisis, EPL clubs invested £ 1.2B

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COVID-19
Despite the COVID-19 financial crisis, EPL clubs invested £ 1.2B

In spite of the financial crisis triggered by the COVID-19 pandemic, English Premier League clubs spent £1.2B on transfers after the EPL deadline date.

As clubs again splashed out more than £ 1 billion in the transfer window, the empty stands and speculation over potential television and advertising contracts had no impact on changing the Premier League’s arms race.

English top-flight clubs have committed themselves to deals worth £ 1.2 billion ($1.5 billion), the lowest summer transfer window spending since 2015.

However, when it came to player revenue, the effect of the coronavirus pandemic was more apparent as the other major leagues in Europe tightened their belts.

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Outgoings of around £400 million suggest that net investment of £800 million in a single window is the second highest on record.

“The sensible way to look at it was that maybe the transfer market is not going to be as buoyant as in previous years,” John Purcell of Vysyble, a soccer finance expert, as stated by AFP.

“What we’ve ended up with is actually the second-highest net spend total for a summer window ever.

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“When clubs are doing these deals, it tends to be a low down-payment and then the rest of the amount that needs to be paid is back-ended.

“That suggests to us that, firstly, the clubs are thinking this COVID-19 situation is not going to last forever. Secondly, it is forcing the clubs to stack up their risk exposure a little bit further down the track.”

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