Premier League's Transfer Market Bubble Set to Burst
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Report highlights growing concern of depression among footballers TUESDAY, APRIL 21, 2020 PAGE 13 Al Sailiya coach Trabelsi Premier League’s transfer takes pay cut, supports market bubble set to burst fight against COVID-19 AFP “The vultures and predators LONDON will pick off good players for very modest fees.” THE financial squeeze put on The fear for those reliant on Premier League clubs by the transfer fees, though, is that the coronavirus crisis could be felt damage has already been done. across the continent in the com- Given the vast sums in- ing months as the well to fund volved, transfer fees are very massive transfer fees runs dry. commonly paid over the course For each of the past four of a player’s contract. summers, Premier League Based on accounts pub- clubs have flexed their financial lished to the end of the 2018/19 muscle to splurge over £1 billion season, Premier League clubs ($1.3 billion) on transfers. owed £1.6 billion in outstand- Al Sailiya coach and former Tunisian player Sam Trabelsi. That has helped spread the ing transfer payments, £900 wealth of television contracts million of which was to foreign TRIBUNE NEWS NETWORK with the coronavirus crisis. worth billions across Europe clubs. Maguire warns of the DOHA Qatar’s national team and crucially down the divi- domino effect whereby if one and Al Sadd captain Hassan sions to cash-strapped clubs in club fails to meet its transfer AL Sailiya coach Sami Tra- al Haydos, 2018 AFC Player England. Now even the world’s debt, it could spark a series of belsi has become the latest of the Year Abdelkarim Has- richest league is facing econom- defaulted payments on other in the list of star Qatar Stars san, and defender Bassem ic meltdown. deals or even worse force clubs League players and managers al Rawi, who plays for Al Premier League matches into insolvency. to take a pay cut and join the Duhail in the Qatar Stars have been suspended indefi- Harry Maguire’s £80 million move to Manchester United was the biggest transfer as Premier League clubs “The concern is that finan- fight against the novel coro- League, and Assem Madibo nitely with no return expected spent £1.4 billion last summer. (AFP) cial problems in one league navirus (COVID-19) in Qatar. and Almoez Ali, are among before mid-June at the earliest. could spread throughout the in- The former Tunisian the star players who have Broadcasters could be due next few months. idea. It depends on how the only accelerate fears that clubs dustry just like the pandemic,” player’s announcement fol- shown the same gesture. a rebate worth a reported £762 “Many clubs could be next few months play out.” lower down the pyramid will he said. lows that of Al Sadd Sports The others following suit million if the season is not threatened by insolvency and not survive the crisis. Bundesliga chief execu- Club’s head coach Xavi Her- include national team and completed and, even when the transfer plans came to a stand- ‘Vultures and predators’ Proceeds from transfer sales tive Christian Seifert told the nandez. Al Sadd goalkeeper Saad al games do recommence, they are still for most clubs because of Such uncertainty has led for are commonly used in the lower New York Times earlier this A few days ago, Qatar’s Sheeb, Al Duhail SC midfielder likely to be behind closed doors, the many uncertainties,” said calls to do away with transfers leagues to cover running costs month that the transfer market football stars stepped forward Assim Madibo and Al Gharafa quashing income from gate re- Matthias Seidel, founder of entirely to avoid the unseemly and will be needed even more will “collapse” and that “some and announced that they defender Almahdi Ali, and Al ceipts. Transfermarkt, a website spe- sight of clubs, who have asked without the regular income of leagues will understand that would be taking pay cuts as a Arabi player Ahmed Fathi be- Moreover, a number of ma- cialising in transfer values. staff to take pay cuts and in gate receipts to rely on. money is nothing that is com- gesture of solidarity in dealing sides many others. jor sponsors such as airlines According to Transfer- some cases relied on govern- “I think there will be sig- ing automatically every month and gambling companies have markt, 1.8 billion euros ($2 ment money, spending money nificant transfer fee deflation,” from heaven.” been just as badly hit by the billion) has already been wiped on new players. football finance expert Kieran That may have been a slight COVID-19 shutdown, which is off the value of Premier League “If you’re trying to get 30 Maguire told AFP. on the Premier League’s overin- expected to lead to a curb on squads. percent pay cuts from existing “There will be a significant dulgence on transfer fees. QCA to organise ‘remote’ commercial revenue. “There’s no doubt the actual players, you may have to put a number of clubs that when But as the biggest spender, Rather than the usual arms value of players right now has transfer embargo in place,” for- some form of transfer market the economic earthquake felt race for talent, Premier League gone down in all squads,” said mer Manchester United captain returns, they will be close to go- by English football will ripple Qatar Champions League clubs are fretting about just Brighton owner Tony Bloom. Gary Neville told Sky Sports. ing out of business and there- across Europe for some time meeting their wage bills for the “How much less, I have no However, embargoes may fore will accept fire sale prices. to come. Lightning Championship QNA points accumulation system, DOHA and the federation has set Quick read the date for the start of the THE Qatar Chess Associa- competitions at 2pm via the Sheffield United Spanish football bodies to cooperate tion has announced that it LIchess application through manager, officials will organise the Qatar smartphones or iPad devices. defer wages to Champions League Chess Tournament Director help cash flow on creating fund, World Cup 2030 bid Lightning Champion- Hussein Aziz said ship from Satur- that the federation LONDON: Sheffield United DPA responsible for sport in will be invited to participate to any joint bid with Portugal for day (April 25). has stressed on manager Chris Wilder and BARCELONA Spain, held a meeting help the most vulnerable ath- the 2030 World Cup final. The It is a series the importance several senior officials will on Saturday with the letes.” Saturday’s meeting was statement concluded: “The of 12 tourna- of holding local defer part of their salary and SPANISH football’s Spanish Football Fed- a symbolic coming together of parties also undertake to work ments held by tournaments bonuses to help with cash two main governing eration (RFEF) and La the federation and the league. together, and in a coordinated the “remote” besides inter- flow during the Covid-19 pan- bodies have endorsed Liga. The two bodies have been at manner abroad, to contribute playing sys- national cham- demic, the Premier League a commitment to the The CSD statement loggerheads throughout the to the reputation of Spain and tem with the pionship dur- club said on Monday. creation of a €10 mil- issued on Monday said: coronavirus crisis. to the strengthening of our im- participation of ing the current Chief executive officer Ste- lion ($10.9 million) “The presidents of La Liga Both sides have now shown age as a country of safe sport. a number of play- period and the phen Bettis and senior coaching fund for struggling ath- and the Federation signed willing to cooperate in an at- “In this context, the Ibe- ers from the Qatari tournament came staff also agreed to the defer- letes, a government state- a commitment to create a tempt to bring football back rian candidacy for the 2030 teams, the champion- is being held to support rals for the next six months. ment said on Monday. contingency fund of 10 mil- as soon as the government’s World Cup finals becomes es- ship will be held every Satur- talent and raise their capa- “I’ve had similar experiences The Spanish Sports lion euros to which other restrictions allow. pecially important, something day and will end on July 25. bilities during the current of cash flow problems at Council (CSD), the entities, such as the CSD also suggested greater to which the government will The tournament will suspension period of tour- other clubs and I’m delighted government agency Footballers Association, collaboration was essential for give its full support.” take place with a 60-minute naments. that my staff have supported me in assisting our club in a small way,” Wilder said in a statement on the club’s website. (DPA) Bundesliga breathes sigh of relief as return to action nears Arsenal manager and DPA mality again for millions of football This concept is the basis for the pos- players to take 12.5 HANOVER fans from May 9, even if with emp- itive and trustworthy assessment of percent pay cut ty stadiums.” Both the Bundesliga the policy.” Borussia Dortmund’s THE Bundesliga breathed a sigh and second division are suspended chief executive Hans-Joachim LONDON: Arsenal said on of relief on Monday as high-level until at least the end of the month Watzke, meanwhile, immediately Monday their first-team politicians indicated they would and could face a frantic race to turned to sporting matters. squad, manager Mikel Arteta not stand in the way of closed door complete the season if allowed to “The championship is not yet and main coaching staff will matches during the coronavirus play again.