Football: International transfer spending drops by almost US$1.9B during pandemic

GENEVA: Football clubs spent nearly US$1.9 billion less on international player transfers during the European summer trading window compared to last year, according toDisruption to the football industry from the COVID-19 pandemic extended trading by five weeks into October and also took billions of dollars out of the market from lost revenue in broadcasting deals and tickets sales.FIFA’s transfer monitoring system recorded US$3.

European clubs were overwhelmingly the biggest spenders - paying US$3.78 billion - with English clubs spending the most at US$1.25 billion in the market which closed on Monday .The money circulating showed European clubs also received US$3.5 billion in transfer fees. Spanish clubs took in US$672 million, Italian clubs US$484 million and US$396 million went to England.FIFA’s figures offer only a partial picture as they do not include transfer deals between clubs in the same country.FIFA’s report details South American clubs receiving US$295 million from international transfers and spending only US$25 million.The volume of transfers also trended down from more than 9,000 international deals one year ago to 7,424 in the latest summer window.

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