An analysis every single signing made by Premier League clubs since Brexit, using the exact exchange rate of £ to € on the day of the transfer, to reveal Premier League clubs would have only spent £2,166m rather than £2,483m if it weren’t for the worse exchange rate. Brexit has cost the Premier League £317m!
Spurs Manager Pochettino has claimed that his club’s transfer policy was hampered by Brexit because “the cost is 30 per cent more.”
He said: “Building a new training ground, finishing this summer the lodge was a massive investment.”
“Building a stadium that is nearly £1bn. That is true, don’t believe in £400m, that is the truth.
“And then with Brexit it is worse because the cost is 30% more, and then keep the best players. For me [that] is to be brave.”
Though Pochettino claimed that Brexit is upping the cost of players for Premier League clubs by 30%, this isn’t true. However, it is costing the Premier League 15%, according to bwin.
Not only are Premier League clubs paying through the nose, but it’s allowing European clubs to save a fortune. Liverpool sold Coutinho to Barcelona for £111m which cost Barcelona €125m instead of €145m.
The headline stats:
- Brexit has cost Premier League clubs £317m – clubs have spent £2,483m instead of £2,166m!
- Pogba cost Man Utd £9.4m more than had the exchange rate not suffered – he cost £89.8m instead of £80.4m!
- Chelsea spent £10.9m more on Kepa due to Brexit – it would have been £61.2m rather than £72.1m if it weren’t for Brexit!
- Brexit saved Barcelona €20m when they signed Coutinho from Liverpool – the £111m Liverpool received would have been €145m instead of €125m!
- Brexit has cost Manchester City £38.5m despite their constituency voting 60.4% remain – Mendy and Laporte among costly imports!
- Brexit has only cost Tottenham £15.8m despite their constituency voting 75.6% remain!
With the rest of Europe completing their transfer deals in Euros rather than sterling, combined with Brexit torpedoing the value of the pound, Premier League clubs all over the country now pay extortionate fees in comparison to their competition in the Eurozone.
On Spurs lack of singings Pochettino also said: “Of course maybe in the mind of everyone they will say, ‘Oh Tottenham didn’t sign’, but to sign for the sake of signing?
“You need to respect all the opinions but of course we are a club that our decision was not to sign, (even though) it is the fashion to sign or because we are the only club in Europe that has not signed players.
“That maybe looks bad because of the perception and because of the history of football, but that is our decision – to keep the best players and to keep the squad.”
Since you’re here …
More worrying is the staggering decline in independent, investigative journalism. It costs a lot to produce, so many publications facing an uncertain future can no longer afford to fund it.
With nobody to hold the rich and powerful to account, or report on the issues that don't fit with their 'narrative', your help is needed.
You can help support free, independent journalism for as little as 50p. Every penny we collect from donations supports vital investigative and independent journalism.