Premier League
ENGLISH PREMIER LEAGUE’S TRANSFER MARKET BUBBLE SET TO BURST
The financial squeeze put on English Premier League clubs by the coronavirus crisis could be felt across Europe in the coming months as the well to fund massive transfer fees runs dry.
For each of the past four summers, Premier League clubs have flexed their financial muscle to splurge over £1 billion (S$1.78 billion) on transfers.
That has helped spread the wealth of television contracts worth billions across Europe and crucially down the divisions to cash-strapped clubs in England.
Now, even the world’s richest league is facing economic meltdown.
Premier League matches have been suspended indefinitely with no return expected before mid-June at the earliest.
Broadcasters could be due a rebate worth a reported £762 million if the season is not completed and, even when the games do recommence, they are likely to be behind closed doors, quashing income from gate receipts.
Moreover, a number of major sponsors such as airlines and gambling companies have been just as badly hit by the Covid-19 shutdown, which is expected to lead to a curb on commercial revenue.
Rather than the usual arms race for talent, Premier League clubs are fretting about just meeting their wage bills for the next few months.
“Many clubs could be threatened by insolvency and transfer plans came to a standstill for most clubs because of the many uncertainties,” said Matthias Seidel, founder of Transfermarkt, a website specialising in transfer values.
According to Transfermarkt, €1.8 billion (S$2.78 billion) has already been wiped off the value of Premier League squads.
“There’s no doubt the actual value of players right now has gone down in all squads,” said Brighton owner Tony Bloom. “How much less, I have no idea. It depends on how the next few months play out.”
Such uncertainty has led for calls to do away with transfers entirely to avoid the unseemly sight of clubs, who have asked staff to take pay cuts and in some cases relied on government money, spending money on new players.
“If you’re trying to get 30 per cent pay cuts from existing players, you may have to put a transfer embargo in place,” former Manchester United captain Gary Neville told Sky Sports.
However, embargoes may only accelerate fears that clubs lower down the pyramid will not survive the crisis.
Proceeds from transfer sales are commonly used in the lower leagues to cover running costs and will be needed even more without the regular income of gate receipts to rely on.
“I think there will be significant transfer fee deflation,” football finance expert Kieran Maguire told AFP. “There will be a significant number of clubs that when some form of transfer market returns, they will be close to going out of business and therefore will accept fire-sale prices.
“The vultures and predators will pick off good players for very modest fees.”
The fear for those reliant on transfer fees, though, is that the damage has already been done.
Given the vast sums involved, transfer fees are very commonly paid over the course of a player’s contract.
Based on accounts published to the end of the 2018-19 season, Premier League clubs owed £1.6 billion in outstanding transfer payments, £900 million of which was to foreign clubs.
Maguire warns of the domino effect whereby if one club fails to meet its transfer debt, it could spark a series of defaulted payments on other deals or even worse, force clubs into insolvency.
“The concern is that financial problems in one league could spread throughout the industry, just like the pandemic,” he said.
Bundesliga chief executive Christian Seifert told the New York Times earlier this month that the transfer market will “collapse” and that “some leagues will understand that money is nothing that is coming automatically every month from heaven”. That may have been a slight on the Premier League’s overindulgence on transfer fees.
But as the biggest spender, the economic earthquake felt by English football will ripple across Europe for some time to come.
-AFP
Liverpool beat Crystal Palace 1-0 to remain top of the Premier League as Arsenal and Manchester City came from behind to win on Saturday.
City were 3-2 victors over Fulham to stay one point behind Liverpool, alongside Arsenal who saw off Southampton 3-1.
Arne Slot has now won nine of his first 10 games since succeeding Jurgen Klopp as Liverpool manager, but was frustrated that the visitors invited a late onslaught from the winless Eagles.
Jota prodded the Reds into the lead from Cody Gakpo’s cross on nine minutes.
The Portuguese international was then guilty of missing two big chances to extend Liverpool’s advantage.
Palace failed to make them pay, but victory came at a cost for Slot as goalkeeper Alisson Becker limped off with a hamstring injury.
“If you score the second you break them mentally,” said Slot. “All the fans kept believing in a result because it was only 1-0, even though in my opinion we were the dominant team.”
Fresh from a dominant win over Paris Saint-Germain in the Champions League, Arsenal were expected to sweep aside winless Southampton.
But the Saints shocked the Emirates 10 minutes into the second half when Cameron Archer fired in his first Premier League goal since a summer move from Aston Villa.
The lead only lasted three minutes before Kai Havertz scored for the seventh consecutive home game.
Gabriel Martinelli was introduced after an hour and took just eight minutes to make his mark with a finish on the volley from Bukayo Saka’s cross.
Having set up Arsenal’s first two goals, Saka pounced on a loose ball to score the third himself.
Fulham’s outrageous opener
Rodri’s season-long absence due to a serious knee injury is expected to be a major blow to City’s chances of retaining the title for a fifth consecutive season.
But it was the Spaniard’s deputy Mateo Kovacic who scored twice to turn the game around for the champions at the Etihad.
The visitors had not lost since the opening night of the season at Manchester United and led thanks to Andreas Pereira’s finish from an outrageous backheel assist by Raul Jimenez.
Kovacic’s deflected effort quickly brought City level before a cleaner strike less than two minutes into the second half made it 2-1.
Jeremy Doku then smashed into the top corner from outside the box to give City a two-goal cushion, which they needed.
Rodrigo Muniz gave Fulham hope on 88 minutes, but City held out for a 17th consecutive win against the Cottagers.
West Ham eased the pressure on new boss Julen Lopetegui by ending a run of three home defeats to start the new season.
Michail Antonio, Mohammed Kudus, Jarrod Bowen and Lucas Paqueta struck for the Hammers in a 4-1 win over Ipswich, who are still waiting for their first Premier League win 22 years.
There were six goals before half-time as Brentford beat Wolves 5-3 to leave the visitors still rooted to the foot of the table.
Leicester secured their first league win of the season as Facundo Buonanotte’s strike beat Bournemouth 1-0.
Manchester United manager Erik ten Hag faces a huge match if he is to remain in charge when the Red Devils visit Aston Villa in the pick of Sunday’s action.
-AFP
Premier League
Premier League rejects City request to delay next season’s games after Club World Cup
The Premier League has rejected Manchester City’s request to postpone the first two games of the 2025-26 season to help the players recover after their FIFA Club World Cup campaign in the U.S., the club’s manager Pep Guardiola said on Friday.
City and Chelsea are the two English clubs who have qualified for the expanded month-long Club World Cup set to start on June 15. The Premier League’s season will begin in August.
An increasingly packed soccer calendar has been a concern among a growing number of players and managers. A report by global players’ union FIFPRO said some players get only 12% of the year to rest.
The Premier League did not immediately respond to a request for comment outside regular business hours.
City midfielder Rodri said in September that players could be close to strike action over the time they are required to play. A knee ligament injury has since put him out for the season.
“I don’t know if we will play more games than the treble year (2022-23)… maybe we’ll play less games,” Guardiola told reporters.
“The Premier League has not allowed us to postpone the first two games for our recovery. Thank you so much. They don’t postpone these games so that will be the moment of, oh, what do we have to do?”
He said the Club World Cup will make it even more difficult for clubs to manage player workload.
-Reuters
Manchester United co-owner Jim Ratcliffe said a decision about under-fire manager Erik ten Hag is not his call, and was reticent about whether he still has faith in the team’s boss amid their worst start to the Premier League season since 1986-87.
“I don’t want to answer that question,” Ratcliffe told the BBC. “I like Erik. I think he’s a very good coach but at the end of the day it’s not my call, it’s the management team that’s running Manchester United that have to decide how we best run the team in many different respects.
“That team that’s running Manchester United has only been together since June or July. They weren’t there in January, February, March or April — Omar (Berrada, CEO), (Sporting Director) Dan Ashworth — they only arrived in July.
“They’ve only been there . . . you can count it in weeks almost — they’ve not been there a long time so they need to take stock and make some sensible decisions.”
Ten Hag’s job was the subject of speculation for much of last season en route to the team’s lowest Premier League finish of eighth. After an FA Cup final victory over Manchester City and an end-of-season review, however, Ten Hag signed a new contract to extend his stay at Old Trafford until 2026.
“Our objective is very clear, we want to take Manchester United back to where it should be, and it’s not there yet, obviously, that’s very clear,” Ratcliffe said.
Ten Hag continues to plead for patience from fans with the team languishing 13th in the Premier League table, having lost three of their six opening games. They were headed towards defeat by Porto in the Europa League on Thursday before Harry Maguire scored a last-gasp goal to salvage a 3-3 draw.
-Reuters
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