Premier League spending not suffocating Europe, insists chief
Premier League chief executive Richard Masters has denied English clubs’ unprecedented spending in the summer transfer window is “suffocating” rival football leagues.
The 20 Premier League clubs spent £3bn over the summer, smashing all records for a transfer window. Their net spend was £1.2bn.
This splurge was led by Liverpool, who spent over £400m, while five other clubs had outgoings of over £200m. The total spent was more than the other major European leagues – in France, Italy, Spain and Germany – combined.
But Masters, speaking at Leaders Week at Allianz Stadium in London, insisted European clubs are benefitting from record transfer fees being paid to them by Premier League teams.
“I wouldn’t say suffocating,” he said. “It is the opposite in fact. At the beginning of every commercial term, when new growth comes in, quite often we see a burst of activity.
“Seven of our clubs were net recipients, with lots of inter-Premier League transfers, but a lot of that money does percolate out to the big European leagues – a substantial proportion of that breathes life into their own transfer markets. I don’t see how it’s suffocated.”
Premier League juxtaposition
There have been concerns over the amount being spent by top flight clubs in England, and those further down the pyramid, with some teams continuing to post losses while spending millions on new talent.
Masters confirmed plans to discuss changes to how profit and loss regulations are calculated, with a vote due on financial rules in the next couple of months.
But he insisted that any changes would still encourage spending by clubs, fearing a slow-down in growth should spending power be stifled.
“I think there’s a clear juxtaposition between the amounts of money being spent in the Premier League in the other leagues,” Masters added. “But I think that’s a good thing [if it is] within the rules.
“It shapes our competition, and it’s an indication our clubs want to aspire and get better, and it’s an indication that our league is going to be very competitive.
“That virtuous circle drives interest and it’s the interest by the audience which drives our media values. And so there is always in the middle of all this careful balance to be struck.”