By David Owen
August 31 – Gross transfer spending by top-flight football clubs across Europe is down sharply from a year ago, as the global economic crisis takes its toll on the finances of the continent’s biggest sport.
Analysis by business advisory firm Deloitte suggests spending is down by 20-40 per cent in all five big West European markets - England, France, Germany, Italy and Spain.
The 22 percent decline in sums committed to by Premier League clubs - from £450 million ($692 million) to around £350 million ($538 million) - was actually comparatively small, as ambitious, well-funded Manchester City proceeded to supplement its squad with the likes of Yaya Touré, Jerome Boateng and Mario Balotelli in pursuit of Champions League football.
Top division clubs in Italy and Spain, Deloitte said, had “reportedly spent around £260 million ($400 million) and £240 million ($369 million) respectively in the summer 2010 transfer window”.
A club-by-club breakdown of English Premier League clubs compiled by Grant Thornton, another business advisory firm, underlined Manchester City’s dominance in the market for players.
Net spending by the nouveau riche club came to a fraction under £110 million ($369 million), compared to less than £10 million ($15 million) by Manchester United, their more illustrious neighbours, and £183 million ($282 million) by all 20 Premier League clubs added together.
Once mighty Liverpool were one of four Premier League clubs to have received more money for players in the summer transfer window than they spent.
Of these, Aston Villa – the Birmingham club that recently parted company with Martin O’Neill, its well-respected manager – had the biggest positive balance at £19 million ($29 million).
Chelsea, the London side probably usurped by Manchester City as the club with the deepest pockets, spent close to £30 million ($77 million) on players such as Liverpool midfielder Yossi Benayoun, recouping just over £12 million ($18 million), for net expenditure of £17.75 million ($27.31 million).
“With the exception of Manchester City, no-one is really spending,” said Grant Thornton’s Geoff Mesher.
“We have seen more high-profile free transfers, for example the moves of Joe Cole [from Chelsea to Liverpool] and William Gallas [Arsenal to Tottenham Hotspur], as we see clubs looking for ways of reducing or restructuring their wage bills.”
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