Premier League (PL) football remains under suspension due to the COVID-19 pandemic, the financial impact caused by the loss of revenue will impact trading during the summer window period.
With no date yet given as to when the lockdown will end in the UK, the financial impact of the COVID-19 pandemic restrictions worsens each and every day for the PL clubs.
Players and top management at many of the Premier League clubs have already decided to either defer or take pay cuts to help ease the financial burdens already being experienced by the clubs.
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With games not being played, revenue for all PL clubs as come to an immediate halt and the situation may be worsened should the season not be completed as clubs would have to refund broadcasting fees that they had received for the remaining unplayed games.
As a result of this, there is expected to be very little action on the transfer market this summer should the COVID-19 suspension be lifted.
Damien Comolli who is the former transfer chief for both Liverpool and Tottenham Hotspurs, weighed in telling Sky Sports:
“We might see swaps, we might see loans and I think we are going to see a massive decrease in transfer fees,”
The former transfer chief also claims to have been tipped by reliable sources that any action in the transfer market will be limited to just three clubs as he told Sky Sports:
“An agent was telling me the other day, that there are actually only three clubs in the Premier League will be able to spend money next summer in the transfer window,”
“I don’t know if this is correct but usually when agents tell you things like this, they usually get intel.”
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“We might see very little transfer activity, we might see swaps, we might see loans and I think we are going to see a massive decrease in transfer fees and transfer activity, at least transfers involving money.”
“The longer this crisis goes on, more clubs are going to be in a financially difficult situation. The first thing that will be impacted will be player remuneration, the second thing will be transfer fees.”
Manchester United, as one of the financial powerhouses of the Premier League will most likely be amongst those three clubs mentioned by Comolli as Ole Gunnar Solskjaer has already confirmed the club’s interest in acquiring Jadon Sancho from Borussia Dortmund