Harry Maguire's £80 million move to Manchester United was the biggest transfer as Premier League clubs spent £1.4 billion last summer. LONDON: The financial squeeze put on Premier League clubs by the coronavirus crisis could be felt across the continent in the coming months as the well to fund massive transfer fees runs dry.
Rather than the usual arms race for talent, Premier League clubs are fretting about just meeting their wage bills for the next few months. "There's no doubt the actual value of players right now has gone down in all squads," said Brighton owner Tony Bloom.'VULTURES AND PREDATORS' "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.
"I think there will be significant transfer fee deflation," football finance expert Kieran Maguire told AFP. 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.
Source: News Formal (newsformal.com)
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