It should be cowardly teams. In January, the Premier League broke new records for player purchases. This is the number of pounds the major leagues shed on players last month, according to Deloitte. England: 815 million France: 110 million Germany: 60 million Spain: 25 million Italy: 25 million We have got a super league in sheep’s clothing, a division on its own planet. On paper, the Premier League crushes everyone 10–0. Even teams in the bottom half are picking stars from the rest of Europe with bids and wages no one can match. The gap has become so big because the Premier League is so popular. The TV rights are sold for fortunes, and then the crowns go back to the clubs; a money machine that seems unstoppable. What the rivals in Europe have to cross their fingers for now is that the teams stumble on their own. Several of them can quickly do this. Wholesale If all the teams in the Premier League had been fooled, the wealth should have led to dominance in all tournaments. Fortunately, for thrills, England offers a fair share of oddball bargains. Recently, Chelsea have made headlines by increasing their spending to £545m under their new owners, led by American Todd Boehly, who took over the club last year. In January alone, they spent more than the other four major leagues combined. In an age where fans want to see their teams burn for money, such an outlay can be hailed as a victory in itself. But do Chelsea know what they are doing? DRAWN THE CARD: Chelsea’s American owner Todd Boehly has spent huge sums this season. Photo: GLYN KIRK / AFP Chelsea have been able to afford this by distributing the sums beyond the contract periods of the players. If they pay 50 million for a player and give him a five-year contract, the transfer will cost them 10 million per year. This is how Chelsea can follow the financial rules of the Premier League and the European Football Association (UEFA). In fact, Chelsea have taken advantage of the rules by giving players contracts of seven or eight years, which is unusually long. This way they can spend more money now. This has caused UEFA to adjust: From the summer, transfers can be spread over a maximum of five years. Some would say Boehly has been smart here. But the risk is great. How much more will Chelsea be able to spend? They will have to pay off these transfers over a long period of time, which will limit what they can give for other players. If they do not reach the lucrative Champions League, they will get even less. Chelsea are 10 points behind the top four. What if the purchases flop? Then they will sit on fat contracts over many years, which makes the players difficult to sell. Few will take a pay cut. Some may refuse to go. How well made? Chelsea have bought a new squad under a coach (Graham Potter) who has never coached a big club before. On Friday night they played 0-0 at home against Fulham. If all the money is to produce results on the pitch, it will take time at best. Loan flop Chelsea is thus an example of the uncertainty surrounding this spending. England in general have plenty of wasteful teams. On the list of those in Europe who have spent the most money on players this season, according to Transfermarkt, we find these: Chelsea. Manchester United, improving but approaching a decade of failure now. West Ham, who have bought a guy who played regularly in Brazil’s midfield in the World Cup (Lucas Paquetá) and a great scorer from Italy (Gianluca Scamacca). They are one point above relegation. Nottingham Forest, who have brought in 29 players with the aim of retaining their place. Tottenham, who are struggling in the battle for the top four. They recently loaned winger Bryan Gil to Sevilla, 18 months after signing him for £21m – from Sevilla. LOAN: Bryan Gil will spend the rest of the season in Sevilla, eight months after joining Tottenham. Photo: MATTHEW CHILDS / Reuters Perhaps the smartest team in the Premier League, Brighton, has barely lifted a finger in January. In fact, Brighton have made £73m from players this season. They are in a sensational sixth place. High consumption is by no means a guarantee of success. Extra expensive Often the sums are also higher than they should be. When the selling club knows that the English teams are in demand, they push the price up. Moreover, there is no clear connection between major transitions and success. The list of the most expensive players of all time is stuffed with flops: In the top 10 we find Philippe Coutinho to Barcelona, João Félix to Atlético Madrid, Jack Grealish to Manchester City and Eden Hazard to Real Madrid. More often, the sum is rather a sign of a club paying above market value. Now in January, Chelsea paid 106.8 million pounds for the 22-year-old Argentine Enzo Fernández, who supposedly cost Benfica 10 million last summer. RECORD: The transfer of Fernandez is the most expensive transfer to the Premier League ever. Photo: KAI PFAFFENBACH / Reuters Such trends make it more even than the finances would suggest. English teams have had many finalists in the Champions League recently, but have only won it twice in 10 years. In the Europa League, Spanish teams have won six of the last nine titles. In the Conference League last season, there was one English team – Tottenham – and they finished in the group behind Rennes and Vitesse. Still, this is scant consolation for Spain, Germany, Italy and France. Negative spiral Because even if all teams in England were to waste, it affects the rest of the leagues. When teams in England win the bidding rounds, teams in other countries are not allowed to build up as they wish. The Premier League has become a drain on both money and talent. This creates a negative spiral, because other leagues need stars to catch up with England. Italian Serie A in particular is desperate for nicer venues and better marketing to increase the value of its TV rights. But it’s tough to create a good product when the clubs can barely afford coffee in the office. The gap to the Premier League is getting bigger and bigger. It is only a matter of time before European football has to find a solution to recreate a healthier balance of power. Until then, the teams in the rest of the leagues must invest in working harder and smarter. And hope that the kingdoms up there also destroy themselves.
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